When Should I Downsize My Home and Why?
Like any other project, when it comes to your home, the choice of downsizing is dependent on your current situation. It may be retirement, divorce, children leaving home or even a loss of income. Downsizing makes sense for a variety of people, especially after the financial impact the pandemic has had on many households. In some cases, less is more. It is easier to maintain and saves you extra money. Before you start, you need to understand that downsizing is a lot of work. You need to decide which of your possessions to keep or give away in an attempt to maintain a clutter-free lifestyle.
- Take photos before you downsize
It can be fun to keep photos of your old home if you choose to move. Looking back at the memories you created in the space can bring closure you didn’t know you needed. Photographs can also be a way to identify things you want to keep that are of sentimental value to you and your family.
- The sooner the better
Start the process before you make the move. Pace yourself when selecting essential items for your new living space because doing it in a short time frame opens you to stress and emotion. Create a system where you can pack away needs over time and leave out the things you know won’t be missed.
- Save, save, save
Put a pause on spending. Set up a budget for the downsizing timeline. If you buy more things that will clutter up your home, what is the overall point of decluttering? Instead, make money by selling things you no longer need. Hold a garage sale for things that can be of value to someone else ie. Furniture, toys, books, clothes, cutlery etc.
- Adjust to your new lifestyle
You will be spending less on home maintenance, utility and other expenses. The smaller the space, the less you need to take out of your pocket to preserve it. Understanding the reasoning behind downsizing will help you maintain the smaller budget you are adjusting to.
- Organize paperwork and keep digital records
We’re living in modern times where everything is digital. Bank records, title deeds, personal documents and work files. It is easier and more accessible to have organized copies on your pc or cloud. Digitizing photographs and artwork can also help create space.
Even if you are not moving anytime soon, it really helps to declutter your home on a regular basis. That way you prevent a mass pile-up from happening or becoming what might be a hoarder. Create rules for purchasing. For example, some people live by the rule that if they buy something new, something needs to be traded out. Your bank account will benefit from the changes of downsizing in the long run.