Homeowners make the decision to downsize to smaller homes for many different reasons. Some are retirees who don’t want the hassle of cleaning a big house anymore, while others are doing it to save money on things like the electric bill and property taxes. Regardless of the reason why you might choose to downsize, here are three things to keep in mind when making the transition to a smaller home.
1. Space is of the essence. If you’re like most people, you’ve probably accumulated quite a few possessions that sit around the house taking up space. One thing you need to think about when you are downsizing is that space is going to be hard to come by. For example, you may not be able to fit the same living room furniture in your new living room.
2. Be ready to sacrifice amenities and belongings. You are going to have to make sacrifices when it comes to the items you take with you to your new, smaller home. Maybe you will have to sell or give away a sofa or recliner that used to fit in your old space. You also might not have a spare room to use for an office, so you might have to find a new spot like your bedroom to house your designated work space.
3. Think about giving to charity. Obviously if you’re downsizing you are going to be getting rid of a few things. While it’s not a bad idea to try and sell those items, you might want to also think about giving them away to a charity. It’s not hard to find a local charity (like The Salvation Army) that could really use the donation, and you could also get a tax break from the donation.
At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.
Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: 4 Tips For Buying Your First Foreclosed Property