3 Mistakes to Avoid When Downsizing Homes

There are many reasons to downsize a home.  Regardless of whether you’ve just retired, moved to a new place, or your children have recently gone off to college, downsizing homes is a fantastic way to save money, live simpler, and spend less time on everyday household chores and responsibilities.

As goes with all home sales, downsizing homes can be difficult if you don’t approach it correctly. To make the process of downsizing homes easier and more streamlined, avoid these three common mistakes:

1. Choosing a location on impulse

If downsizing homes involves moving, be sure to pick your new location carefully. While it’s easy to get excited about the prospect of living in a new place, it pays to move slowly and ensure that the city or town you choose has all of the features and amenities you’ll want in the long-term.

2. Storing too much

Downsizing homes often means downsizing belongings, as well. Avoid giving into the temptation to store all of your extra items.

Instead, hold a garage sale or donate old clothing, furniture, unused household items, and toys to charity. Your move will be simpler, and your new home will be less cluttered.

3. Over-committing financially

While many people think that a smaller home means lower bills, this isn’t always the case. For a downsized home to slash your utilities and upkeep costs, you need to be intentional about the process.

With this in mind, sit down and pencil out your monthly bills before you choose to purchase.

If you can, consider paying cash for your new, smaller home with the proceeds from your larger home. If you have money left over, you can put it in savings or use it to pay down debt. This approach ensures your downsized lifestyle will afford you more financial freedom rather than less.

Downsizing Homes? Enjoy a Streamlined Process

Downsizing homes can be a fantastic way to simplify your life, but you need to be careful to avoid common pitfalls. Things like taking too many old belongings to a smaller home, failing to budget correctly, and choosing the wrong location can all make downsizing homes a headache.

Luckily, these mistakes are easy to avoid.

By being intentional about the process of downsizing homes and avoiding common pitfalls, you’ll be able to get your move underway and enjoy your simpler, cheaper, and more streamlined life in no time!