Has the thought that your house is too big started to occur to you? At first, there may be a sense of having too much to do and not enough time to do it. Whether it’s lawn care or cleaning the house from top to bottom, the list can feel never-ending.
Plus, you’d prefer to spend more of your spare time enjoying your hobbies and activities. The thought of freedom from the stress of homeownership has many people thinking about downsizing, even at much younger ages than ever. Is the time right for you, and how do you get started on this adventure? In this post, we’ll provide you with a complete checklist from A to Z.
The Decision: The First Step
Very few people make a snap decision to downsize and then move forward without second-guessing themselves. The process usually looks more like this:
- At night, you feel tired after a long day. The last thing you want to think about is organizing your belongings or making those minor repairs you’ve been putting off so long. As you fall asleep, you may think to yourself, “This is it; I’m selling the house.”
- When you wake up the next morning, you feel more energized. You think maybe you should stay in your home a little longer.
- However, by lunchtime, the thought of living a carefree life with less home maintenance to worry about starts to sound good again.
Bouncing from one thought to another like this can be a sign that you are nearly ready to downsize. Even if you decide not to act right this instant, you can still plan for one year, two years, or even three years down the road.
Want to know more about planning your successful transition? The posts below are a great place to start:
- Finding Peace and Quality of Life: Toronto’s West End Top Assisted Living and Retirement Homes
- 9 Questions to Ask Yourself Before Downsizing
- Is it Better to Downsize Before Retirement?
Leave Yourself Some Breathing Room
The nice thing about planning ahead is that you have lots of time to get organized and work out any flaws in your plan. If something goes off kilter or you decide you’re not ready after all, no harm, no foul.
Contrast that with leaving everything to the last minute. Now, you must sell your home quickly and have very little time to weigh your next options. When rushed, you may end up in a less-than-desirable situation, which could mean another move within a short time.
What does the planning stage look like? It begins by listing out the steps that will lead to a successful downsizing experience.
- Contact a real estate agent well in advance so you have the advantage of expert advice from the beginning.
- Decide whether to sell your home or keep it in the family.
- Think about where you want to go next. Will you stay in Toronto or move to one of the smaller towns nearby?
- Would it be better to buy a home after yours sells, or should you choose to rent instead?
- What type of home do you want to live in next? A condo may be traditional, but your options are almost endless. That said, when you see how bright, beautiful, and spacious many Toronto condos are, you may decide this is the perfect choice.
- Should you jetset to a tropical paradise for ten months out of every year, only returning for the summer time?
Decluttering Made Simple
What will you do with all of your belongings when you move to your new home? No matter how often or meticulously you clean, the number of items you no longer need or use can pile up. Before moving, you’ll want to go through it all and carefully decide what you really want to keep. Decluttering your home can be challenging because of the memories involved. This is one more advantage of starting the process early.
You can sort your items into boxes labelled “keep,” “donate,” or “discard.” When you have lots of time, you can create another box called “maybe.” Now the process is simple; just put anything you’re not 100% sure about into that fourth box. If months pass and you haven’t even felt the need to peek inside, you can be reasonably sure you will never miss those items.
If decluttering is something you are still struggling with, professional cleaning companies can step in. Perhaps your real estate agent can make a recommendation.
Planning Your Next Steps
The real estate market can seem complex and overwhelming, especially if you haven’t bought or sold a home in some time. You may have endless questions racing through your mind. Should you sell now or wait? Should you buy first or wait until your transaction closes?
The specific answers will change depending on the current market. However, there is one simple guideline that can remove most of the stress and worry about what might happen next.
As much as possible, always buy and sell in the same market.
- If housing prices are down, you may sell for less, but you will also buy for less.
- It can seem intimidating to search for a house when prices are high. However, remember that your own home has also risen in value, giving you more purchasing power than you may realize.
The West End has so much to offer retirees and empty nesters! Below is just a taste of what you have to look forward to:
- Best Toronto Neighbourhoods for Active Retirees
- Explore the Best of Toronto’s West End This Spring and Summer
- Top Hiking Trails In The West End
Shifting Your Mindset
At some point during your downsizing process, it is completely normal to feel sad or nostalgic about leaving your memories behind. Telling you to focus on the positive is easier said than done. However, there are a few ways that can help you view downsizing as an experience to look forward to.
A great way to start is to imagine what your dream life would look like. Picture this: You’re living in a place you love, surrounded by people who care about you. And you have more free time now that you don’t have a massive property to take care of.
List out the features you want to see in your new home, such as quartz countertops or laundry on the main level. That’s not to say that you refuse to consider a home that doesn’t have everything on your wish list. However, you at least have a starting point.
Envisioning your ideal life after downsizing helps to transform this experience into something you look forward to. It’s easy to keep moving towards your next step when you’re motivated by the final outcome.
Are you looking for more guidance when downsizing in the West End? We are happy to help you find the perfect solution in today’s market. Reach out today to info@sidorovainwood.com or call 416-769-3437 with any questions.
