What You Should Know Before Downsizing

Have you have been wondering recently if your home is a bit too big for your current family arrangements – perhaps your children have flown the nest or the garden work is proving a bit too cumbersome lately? There are good chances downsizing might be for you.

Clyde Property can give expert advice on what factors toconsider, and they've found that downsizing at the right moment can be a chance to fit your home around a new lifestyle and turn out to be quite a joyous and exciting occasion. Of course you are attached to the memories and the family home for many years – moving home is never an easy affair, but the many benefits of moving into a new space fit for a new lifestyle might balance out the loss.

Here are some of the things to consider before deciding downsizing is for you.

Will Downsizing Mean Lower Running Costs?

Downsizing might be a way to free up your finances and lower the running and maintenance costs of owning a larger home. If your home is in need of some repair, it might be a good time to ask yourself if you should further invest in modernising and improving, or moving into a smaller home. This might free some equity, allow you to lower maintenance cost as well as free some of your time.

Will Downsizing Allow You to Choose Where You Live?

When your lifestyle changes and you start considering downsizing, it is a good moment to evaluate where you would like to spend your time. Will it be closer to family, or somewhere completely new where sunny weather is guaranteed? Would you like to spend life making new friends and exploring new places or are you perfectly happy with where you are? Everyone os unique, just consider your options carefully before making a decision.

What Will You Miss?

Of course all the loving work you have put in your home, all the memories built over the years will be missed if you decide to move. But will an easy to maintain, smaller living space free your time for something else – like a new hobby, or more time to spend with your family? Downsizing might come with a real sense of freedom, giving you time and financial freedom to travel perhaps.

Have You Considered the Cost of Moving?

There are costs to consider when moving house, so make sure you have a calculation of moving costs, costs of buying and selling property, and perhaps the cost of new furniture to fit in the new space.

Take your time and make sure you filter through your belongings, all the mementos and family heirlooms, as this is not a time to rush, but enjoy and celebrate the transition to a new, exciting phase in your life. Contracting storage space for some of your belongings might be worth looking into, so make sure you take that potential cost into account as well.

New or old build?

A new build might sound attractive for the guarantee and the energy efficiency it offers, but there are other factors to consider. Just make sure you take into account what is most important for you and your future years.

If you are considering downsizing, why not speak to Clyde Propery's helpful, local staff about your options before making a decision? You can find full contact details for their Perth office on our directory> 

For a peek at what's on the market with Clyde at the moment, have a good nosey at our Small City Property section here>