Downsizing effectively means making a plan
By Vicki Aubry, Realtor, ABR, SRES, Prudential Prime Properties
Downsizing buyers invariably go through an exercise whereby they visualize themselves in this new lifestyle yet envision bringing all their worldly possessions to this new lifestyle location.
They consistently verbalize how small townhomes look to them but they are picturing all their current belongings and furniture crammed into a smaller space. They also underestimate how long the process is to truly downsize effectively. It is time to make a plan.
Step 1: Get the lay of the land
Start by attending all sorts of Open Houses to get an idea of what your money will buy you and what options are available.
Step 2: Retain a knowledgeable Realtor who can project the value of your home.
It may take quite a few months for you to understand how all of this would work and mesh together – yes, it seems like a daunting task, but broken up into smaller steps it can be accomplished effectively if you stay on task.
Step 3: Consult some trusted lenders that can give you financial options that might ease the burden of your move. Did you know that you can’t get a home equity loan if your home is on the market? Chances are you have some good equity that you could tap to perhaps purchase and then sell, easing your stress load. Who are they? (See step 2!)
Step 4: Make your plan based on the above information with your trusted agent at the helm to guide you.
Step 5: Prepare your home for sale if you must sell before you can buy.
Do you really need grandmother’s silver service? Do you have three others as well?
Then, there is all that stuff in the basement…oh, in the garage, too. When was the last time the Buick came in from out of the elements? Oh, no, you’ve got an attic, too? Clean it out now…it’s not the place to be in when its August!
If you don’t use it – sell it, toss it, give it away to charity (and get a tax write-off) or give it to someone you know – just DON’T move it!
Next – furniture! Do you really need a dining room table that seats 12? To downsize means to simplify in every sense of the word! Perhaps buying a smaller dining room table that is more in scale when you get to your new place would be a great idea.
Gone is the excess that has been weighing you down for (in some cases) many years!
Prepping: Consult your trusted agent again on what updates you need to make to bring maximum proceeds from your home to your next one. Popular updates are carpets, appliances, counter tops, and of course removing wallpaper and painting with fresh, popular colors.
Cleaning: Do not underestimate the value of a squeaky clean house – perhaps bringing in professionals for this is the answer. Clean things you always forget such as light bulbs and fixtures, ceiling fans, window treatments and windows and everything else!
Call me – I can help you START now and you will be all set to MOVE next spring.
An independently owned and operated broker member of BRER Affiliates Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation of Prudential.
Equal Housing Opportunity.
Short URL: http://www.communityadvocate.com/?p=51633