Downscaling 101
Category Property news
There comes a time in our lives where we no longer need nor desire the large family home., however, making the decision to sell a home that hold so many memories, can be difficult. Mike Greeff, CEO of Greeff Christie's International Real Estate cautions that although downscaling might represent the ''closing of a life chapter'', it is important that you do not delay ''out of sentiment'' as this might not be beneficial to you in the long run.
There are important factors that you should consider when making the decision to downscale. Downscaling is done best when current and future needs around finance and lifestyle are considered and planned for.
One of the most important steps when downscaling, is ensuring that you are mentally and emotionally prepared to downscale. Some homeowners become so used to living in a large home, that scaling down can be a challenge. If you are accustomed to your space, you need to take extra time to come accept that you will no longer have that. You should also come to terms with the fact that you might have to divest furniture and other items that simply cannot be accommodated in your new home and this too, takes some time.
Greeff suggests staying focused on the many benefits there are that comes with ''lightening the burden'' of a larger home. Focus on the convenience of a more modern and efficient lock-up-and-go that is easy to maintain and doesn't require too much from you as its owner. Yes, you are possibly going to have to get rid of your furniture but see it as an opportunity to refurbish your new home with furniture that is fresh, appropriate for your new space and that suits your current and future needs perfectly.
Location is also very important when considering downscaling. If you are downscaling because the kids have left the nest, then you may want to consider moving into an area that is within close proximity to your kids/grandkids so you are still able to spend quality time with them on a regular basis. On the other hand, if your kids have moved to another city or even country, you may need to consider a home which still has space for them when they come home to visit. Again, Greeff suggests that you take the necessary time to weigh up all the options, so you make an informed decision.
If you are needing to downscale for financial reasons, it would be wise to consider the costs that go into buying and selling. You will need to look at transfer costs as well as moving costs that could amount to a hefty sum.
Essentially, downscaling is a change in mindset. You have to let go of what was and focus on what is and what will be. Having this forward-thinking mindset is what will effectively help you with the sentimental issues you may have around leaving your family home. Once you downscale, you are most likely going to feel liberated and you will quickly acclimatise to the new way of living.
Remember, memories go with you and no matter the space you're in, whether it be big or small, those memories will always remain with you.
Author: Greeff
