Are you downsizing to a smaller home this year? Perhaps your children have flown the nest, or maybe you’re finding it difficult to maintain such a large home — either physically or financially. Whatever the reason, there are a few things you should take into consideration when looking to downsize. Here are a few of our Capital Mortgages top tips for downsizing to a smaller home:
Make an inventory
Taking an inventory of existing items is a good way to see what you have and what you want to keep, discard, sell, or donate. You may find that you have a number of duplicate items: the kitchen is the worst area for this! Do you really need all three pairs of salad tongs?
Sell unwanted items
Selling off your large or unwanted items is a good way to make a little bit of extra money while you downsize. This extra cash could then be used towards new, more appropriate items, for your new space. Online marketplaces are a great place to list your unwanted items. You can also donate certain items, or ask family members if there is anything they would be interested in taking.
Measure, measure, measure!
Take note of the dimensions of your new smaller home as well as your existing furniture. Before you move, you should know which furniture items will easily fit into the new space which will just be too big.
Look for storage solutions
Does your new home have a lot of storage space? If not, look to update the space with innovative storage solutions, such as under-bed storage, hanging racks and built-in shelves.
Pack as you go
Move through your house room by room, assessing items and packing as you go. It helps to start in a room that you don’t use very often, such as the basement or guest room. Once you’ve gone through one room, try and get rid of the items quickly — whether you are packing, donating, or selling them. This stops you from going back and changing your mind. For more tips, read our blog on the best packing tips when moving home!
Ask questions
Some good questions to ask yourself as you pack could include:
- When was the last time I used this item?
- Can I see it fitting into my new life at my new home?
- Does this item have sentimental value that can’t be replaced?
- Could I get by without this item?
Downsizing can seem like a daunting task, but hopefully these tips will make the job seem less overwhelming. For any information you may require regarding a new or existing mortgage, we can help! We work with over 35 lenders to secure the best financing for your needs. Don’t hesitate to contact Capital Mortgages today.