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MOVING TO A SMALLER HOME

Don’t Miss These Helpful Steps
When Downsizing Your Home

Mike Longsdon 


If you’re like many seniors, you may be planning on downsizing your home after retirement. Moving to a smaller home can mean less hassle when it comes to maintenance and costs, but you may need some added measures to take the hassle out of your actual downsizing move. That’s where the helpful tips below can really come in handy as you downsize your home. 


Figure Out Your Financial Plans 


Budget can be a big factor in your decision to downsize, so it only makes sense to spend some time figuring out your budget and finance options. For instance, if you want to buy a new home with more accessibility features, you could use VA loans to reduce any upfront costs. With these loans, eligible veterans can finance their new homes without worrying about making a down payment or purchasing private mortgage insurance. Depending on your downsizing goals, you may be looking for ways to move and retire without paying a mortgage. In fact, paying off a mortgage can be a perk of downsizing to a smaller home or even a different location. So, whether you can afford a housing payment or prefer to pay off your home, be sure to include these financial factors as you calculate your downsizing budget


Know When to List Your Old Home  


You may be feeling this stress about selling your home, especially if you need the cash from your old home to purchase the new one. Taking advantage of VA loans and other special financing options can help you avoid this dilemma, but you should also know how to help your home sell faster. One way to attract more offers and higher bids on your property is to list it on a Wednesday or Thursday. That’s because studies show that homes listed on Wednesday tend to sell for more money, while properties debuted on Thursday tend to get the quickest offers. Why so much emphasis on your home’s debut? Well, the same research also shows that listings get the most attention on their first day online, so timing your listing just right can help you make the most of that attention, and make the most of your property listing. 


Start Your New Home Search Online 


You can start your home search online to get an idea of what properties are available and what current prices look like, but when you’re serious about finding the perfect home for your golden years, working with a realtor is a must. Technically, you could buy your new home without a realtor, but licensed real estate professionals have access to countless property listings that you may not be able to see with your online search. Plus, a realtor can take the guesswork out of finding potential properties that meet your retirement budget, as well as your aging in place needs. Because finding a home with aging in place features, like walk-in showers, already included can be much better for your budget, as well as your quality of life. 


Begin Your Moving Preparations ASAP 


When you’re moving homes after so many years, there’s a lot to take care of before you can truly begin the next chapter of your life. All of those little moving tasks, from packing your belongings to prepping pets, can feel like a lot to manage. A downsizing checklist will help keep your efforts on track and give you a better idea of when you should start more involved processes. For example, decluttering a senior home can take more time and maybe even more emotions, so allow yourself plenty of time to sort through those memories. Also, don’t hesitate to reach out for help from loved ones, friends, or even professional move managers, especially if having that extra help will relieve some of the pressure during the downsizing move. 


Downsizing to a smaller home shouldn’t cause you larger amounts of stress. So, avoid any issues during your downsizing move by adding the steps above to your plan. Then you can find a home that fits your golden years perfectly, to make the most of your retirement.