- Get down to basics. Take inventory of everything in your home and pare it down to only the items you truly need. Once you do, you’ll have a better idea of how much space your next home should have. Donate or sell everything you won’t take with you. If you think that option is practically impossible, store those items in a self-storage unit (check out here for more information). You can store them for however long you want and take them back only when you need them.
- Do some long-term planning. If you have adult children or out-of-town relatives who visit frequently, you may not want to give up having a guest room. If you dream of starting your own business someday, make sure your next home has space for an office or workshop that can fit in all your office monster furniture (or another similar office furniture company).
- Think about the cost of moving. Even if you’ll slash your mortgage payments, moving into a smaller home still might cost you money. Think about whether or not your existing home needs work before you can sell it, whether your smaller home might come with HOA fees or higher property taxes, and if you’ll need to buy a lot of furniture.
How to Get Started
If you believe the time is right and downsizing makes sense for you and your family, here are some steps to simplify the process:
- Get everyone on the same page. If you share your home with anyone else, make sure they understand the goals and practicalities of downsizing. A little conversation can prevent a lot of fights later.
- Make everything multipurpose. The best way to prevent clutter is to ensure every space and item in your home can serve more than one purpose. Buy furniture with added storage space or use a fold-away desk to turn your living room into a home office.
- Talk to a professional. Realtors can help you make the most informed decision when it comes to finding the smaller house of your dreams. They also can make it easier to know you’re getting the most value out of your existing home when you put it on the market.
Downsizing 101 from Pivotal Home Solutions