“Rightsizing” buyers (formerly called 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 underestimate how long the process is to truly rightsize effectively! Your new space should include just the rooms you will need to use… 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
A good Realtor 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 can be accomplished effectively if you stay on task.
Step 3: Consult some trusted lenders
They 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 afterward easing your stress load. Who are they? See step 2!
Step 4: Make your plan
Based on the above information you have learned, make a plan 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, you will need to prepare you home to make it attractive to buyers.
Purging is an important part of the process. The goal is to mentally bring only the things you will need to your new place and then physically make it happen. Do you really you’re your grandmother’s silver service? Do you have three others as well? Then, there is all that stuff in the basement, garage and attic, too. When was the last time the Buick came in from out of the elements?
If you don’t use it, sell it, toss it, give it away to charity 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 rightsize means to simplify in every sense of the word. Perhaps buying a smaller dining table more in scale when you get to your new place would be a great idea and giving your kids the idea that it is time they cook the Thanksgiving dinner. You have taken that off your to do list along with the huge dining room table which now looks great in their house!
Gone is the excess that has been weighing you down for (in some cases) many years.
Consult your trusted agent again on what updates you need to make to maximize your proceeds. Popular updates are carpets, appliances, countertops, and removing wall paper and painting with fresh popular colors. Again…consult your trusted agent… we know what sells!
Do not underestimate the value of a squeaky clean house – perhaps bringing in professionals for this is the answer – and clean things you always forget to clean – light bulbs and fixtures, ceiling fans, window treatments and windows and everything else!
Call me! I can help you START now….you’ll be all set to MOVE in early spring!
Realtor, ABR, SRES
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