Are you ready to downsize your living space, but are overwhelmed by the magnitude of this undertaking? You are not alone. This has been the year for many people to simplify their lives—and this trend is not limited to the elderly.
Our recent recession seems to have reset the priorities of many homeowners. People are working hard to peel off the excess square footage in their homes that is not being utilized and thereby eliminate the costs associated with that square footage. In fact, I prefer the term “rightsizing,” which recognizes that this shift is not about deprivation. Rightsizing is a trend offering ease of lifestyle as well as scaling the cost of the house to the comfort of its occupants. Rightsizing your home is about a re-configuring of space around lifestyles. These lifestyles require less formal living and entertainment areas, fewer bedrooms and lower maintenance.
How to Rightsize Your Home
As a residential broker, I have seen people who have rightsized out of urgent necessity (often tied to finance or health reasons), as well as those who do not have to make a change today but prefer to make the shift now anticipating future financial or health challenges. Having the wisdom and foresight to execute on the shift while financial and physical wherewithal is intact makes all the difference.
For seniors, the biggest challenge seems to be what to do with all of their possessions. Too often, widows and widowers are left with the immense task of unbundling many years of accumulation in their home. The range and volume of possessions is daunting, from boxes of family photos to the third set of china received upon the death of a great aunt. I encourage seniors to take ownership and control of rightsizing during their good health.
For the younger rightsizer, the motivation is different and therefore so is the decision-making process. The younger set is often two-income families, not interested in spending their precious free time on home and yard maintenance. On top of this, technology has downsized the typical American household. For example, less on-site space is needed now that family photos can use virtual storage.
Ask Your Realtor Where to Start
I encourage my clients to begin with the end game in mind. Nothing is more motivating than a clear vision of your next home. I have helped many clients navigate the transition of rightsizing their homes. My efforts are focused on maximizing the sale of the current home, while minimizing the cost and liabilities on the next purchase, and nesting my client and their family in a home that fits just right. Let me help you successfully rightsize your home today.