One of the biggest expenses, and very often the biggest expense, in your life, is your property.
Whether you own or rent, it’s going to cost a large part of your income, and in many cases, we’re living in properties that are just too big for us. This might be because children have grown up and moved out, because we overstretched our budget, or because there was no other choice at the time. However, if you have the option now and you know you can downsize and save a lot of money in the process, it’s time to do it. No one needs a colossal home; something just right is much better, and the smaller your property, the less it will cost to live in it. So if you’re thinking of downsizing, here are some ways to get started.
Assess Your Future Needs
Although no one can see into the future, you can at least have a reasonable idea of what you’re going to need in your downsized life. For example, if you work from home or think you might take this option in the future, you’re going to need an office space within your new home. If you believe you will stay in the next property for the rest of your life, you might want to consider one that will allow for mobility issues that might occur in older age.
You should also think about where you want to live. Right now you might be in a big city somewhere, but would it be better to head out into the country? Or vice versa? What is going to suit you best? Knowing this means you can adjust your requirements accordingly.
Declutter Your Home
The very nature of downsizing means that you are going to move somewhere smaller. That’s how you’re going to save money. This necessarily means that all the ‘stuff’ you have in your current home will not fit in your new property – there literally won’t be room for it. Therefore, you’ll need to determine what you need, what you want to keep if there’s room, and what you can definitely do away with. It’s a hard job but a necessary one, and it’s certainly not something you’ll want to do after you’ve moved as you’ll just be making life harder for yourself.
If you have a lot of items that you no longer want, it’s a good idea to get in touch with estate sale companies to arrange your own estate sale. In this way, you can make some money while removing unwanted and unneeded items from your life.
Don’t Wait
Moving home, especially if you’ve lived somewhere for a long time, perhaps even decades, is always going to be an emotional time, but it’s also a time to be as practical as possible, and your head really must overrule your heart in most cases.
This is why it’s best not to wait. Once you’ve decided that downsizing will be the best option for you, saving you a lot of money and helping you feel more comfortable in your home, then don’t wait; put your property on the market or give notice to your landlord and start the process. The longer you wait, the less likely you will be to do it, and you’ll waste both time and money.
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