Are you truly ready to downsize?, by Rose Ogbonna.

Are you truly ready to downsize? Ten questions to ask yourself before downsizing

By Rose Ogbonna

Various reasons lead to downsizings, such as the need to save money, the city’s location, or a house with extra rooms no longer serving its purpose. Before downsizing, one must ask several questions that act as a guide. They include;

1. WHAT IS THE REASON FOR DOWNSIZING, AND WHEN IS THE BEST TIME?

There are many reasons that gear people towards downsizing. Older families move to smaller houses because the house is too big and maintenance is hectic, primarily due to rooms that are not being used. They may also move closer to their families and friends and simultaneously avoid feeling isolated. The reason for downsizing is when people are no longer happy about the current house’s lifestyle or no longer need the place.

2. IS DOWNSIZING FINANCIALLY PRACTICAL?

The question arises mainly when an individual intends to downsize to save some money. When selling a property, some costs are associated, such as n property transfer tax, home warranty, and commission fees which a seller incurs typically. On the other hand, moving to a new home means paying taxes and insurance costs. Some costs are incurred when upgrading the house bought. An individual also checks on the Homeownership association cost in an area one wants to relocate. After carefully analyzing the cost incurred, an individual can make the right choices on whether downsizing is a better option.

3. WHERE WILL I PUT MY BELONGINGS?

At this stage, the house owner must decide what to pick and leave behind. Especially when moving to a smaller area, carrying all things is difficult because one moves from a big house to a more minor one. In most cases, an individual picks out the most valuable items. After selecting the items to carry, one calls movers to transport the goods to the new apartment. A handyman is vital to help with small jobs such as fixing shelves. Materials left are sold out, or a room is rented to store the commodities.

4. AM I ABLE TO KEEP MY PETS IN A DOWNSIZED APARTMENT?

The aspect is essential to people with pets or plans to have one. They ask whether pets are allowed in the estate having a downsized home. Most houses that enable pets to have inclusions such as private gardens, balconies, green spaces, and easy-to-reach parks. Pets are associated with providing companionship, generally making individuals amused, and making pet owners interact in walks and chat about their pets.

5. WHAT TYPE OF HOME DO I WANT TO LIVE IN?

Individuals must know what type of house they want. Necessarily for older people looking for a retirement home, they should look for elegant homes with what they want to be included in the home. For example, individuals find out whether the house has a private garden, vanity mirror, and others and if the property is well designed with well-spaced rooms. Individuals also find out whether the houses are built with quality products. The individuals then proceed to make offers if the place is suitable.

6. WILL I FEEL LONELY?

Moving to a new home, especially for older people, might be challenging in their social life. Friends are made in most cases made in the earlier stages of life, such as in school or working places. However, some people are characterized by social behaviour and make new friends within the first few weeks of moving to a new home. Mostly in gated communities, neighbours interact at least once weekly, especially if there is a clubhouse or play area. Neighbours also chat with each other.

7. HOW DO I MANAGE EMOTIONS?

Sometimes moving can be emotional. One is leaving a house where there were many memories made. However, the issue is solved by making a move faster and focusing on the positive side of moving. It is also painful in cases where the house was a family home. Individuals are advised that after relocation, they have companions to adjust to the new environment quickly.

8. WHERE DO I WANT TO LIVE?

That is one of the most critical questions an individual should ask themselves. One checks whether the location of the downsized house is close to amenities such as schools, if the individual is a family with children attending school or if the home is located near workplaces. Often older couples look for homes closer to their friends and family. Individuals tend to choose houses that are their interest.

9. WHERE WILL I PARK?

Parking is crucial if individuals own a vehicle or two. When buying a downsized house, it is advisable to check whether it has a parking area or a garage. The garage is used not only for cars but also for the extra good that an individual does not require inside the downsized house.

10. DO I SELECT A SMALLER HOUSE OR A CONDO?

The choice of the type of house depends on an individual. Although money matters, a condo is generally cheaper since it requires less maintenance, unlike smaller houses, whether once in a while. However, if an individual loves privacy, then single homes are the best option.

After careful self-evaluation, an individual can make the best decision when downsizing.

Contact Rose Ogbonna at (301) 674-4542 rose.reobroker@gmail.com