Downsizing, One Step at a Time
Written by Wena Roeloffze I Seniors Real Estate Specialist I Realty Club 74 I Brokerage by Coldwell Banker Realty
It may be a general idea that downsizing is only for seniors or elderly people, in need of a long-term care facility or less maintenance to handle. And while that might be the larger percentage, there are many other people in every stage of life that may need or want to downsize for various reasons, like a physical disability or a change of lifestyle.
Whichever the reason, downsizing – even just the thought of it – can be overwhelming, disruptive and very stressful.
Imagine a mom who saved all the drawings of her young kids and has to part with it. It’s not as if she looked at it every day, but it was there and part of her life. Her kids really have no inclination of saving it and mom cannot take it all with her. A small thing, but a huge emotional disruptor. Imagine a person losing their legs in an accident who needs to downsize to a much smaller and practical home. This person has to part with sporting attire and/or equipment. What an immense emotional trauma.
The moving in itself is most probably not the worst. The most stressful part we see people face is the preparation and final decision phase. The packing, sorting and labeling cause many a person to have sleepless nights. Even if the person is actually enthusiastic about the change, the reality of the move and the “letting go” can be traumatic.
Downsizing can however be a positive experience when you plan correctly and have the right people assisting you. And although everyone’s circumstances are unique, there are a few steps that make this process easier on everyone involved.
Step 1. Making the decision to downsize.
Why exactly would it be a good idea to downsize? Making life altering decisions are like writing a business plan or a storyline for a new book. Make a list of the pros and cons for moving or staying and do this with your family. Writing it on paper allows the whole family to be clear on the decision and the action plan to follow through. Visit facilities and take a tour to see which one will be suitable and make sure all requirements are met.
If you are considering to move to a family member’s home, talk to your Realtor about an Accessory Dwelling Unit and how a home can be transformed into a multigenerational home through lender and government programs. If it would be better to age in place, talk to your Realtor about what processes will be involved to have that done.
The reason why you are downsizing will help you through the next steps and phases. This is a good starting point to know your readiness level to move and make a change.
Step 2. Do your research.
While step 1 is all about the emotional and practical reasons for downsizing, step 2 is all about planning and researching. Consider all options by having a specialized Realtor advise on the home’s equity and mortgage payoffs to evaluate the financial impact. Decide on when you would like to move and consider the weather (especially here in Wisconsin). The home you are moving out of must be in good shape to sell for top dollar in any market. There are plenty of options to do repairs and updating without paying any money upfront.
Coldwell Banker’s RealVitalize program is excellent and Realty Club 74 will manage it all on your behalf.
Step 3. Downsize your possessions.
Now that you have outlined where you are going to and what it looks like, step 3 is to make sure your current furniture fits and sorting through your belongings to keep what you need. This is most definitely the hardest part. What to keep, what to donate, what to sell and what to toss.
Each individual takes this step in a different way and there is no right or wrong way. The above mentioned “4 boxes” is what we refer to, to make it like a multiple choice or monkey puzzle for our clients. The way we describe it is much like this: If you have not used this in 6 months it is either to be donated, tossed or sold. If you discovered it while packing, it needs to be tossed. If something holds sentimental value and you cannot decide, put it in a suitcase or somewhere out of sight – if after a while you still think about it, keep it; if not, toss it. This is tough – good luck!
Step 4. Plan your new space.
If your new apartment or living space does not give you a floorplan, ask your Realtor to give you one. Realty Club 74 do a quick floorplan of your existing and new home free of charge. This enables prospective buyers to know more about the home they want to purchase and also gives you the correct measurements to plan your furniture arrangement.
This will help you to plan better for what you need and where everything will be placed. It will also be a great help to movers who will be placing your furniture, boxes and appliances.
Step 5. Make repairs or cosmetic changes.
Step 2 was all about talking and planning around what could give you a better investment return on your home. Now is the time to act on that planning. Sometimes it is better to move out and then have the contractors come in and do what needs to be done, but that will depend on your situation.
Having all furniture and clutter removed, provides a clean canvas for renovating or making the home look clean, freshly painted and updated. Moving out before the home is put up for sale is also a good idea to avoid the buyers and the real estate agents, going through the home.
Step 6. Change of address and utilities.
Make sure to make a list of all the subscriptions, utility bills, medical information, telephone/cable or internet contracts you may have. Regular deliveries, online shopping or mail must be re-directed and changed well in advance. Use a checklist to make sure everything has been updated.
Step 7. Packing and moving.
Be prepared to provide a moving company with a list of your inventory to be moved. Some moving companies provide a senior discount and some specialize in moving the elderly. Make sure to partner up with someone who understands your needs. Do not move items you are planning to sell or donate – it is unnecessary costs or storage issues.
These 7 steps are just an outline as to what you can prepare for as you decide to downsize. There are many more factors and unique circumstances involved, and Realty Club 74 is well equipped to deal with all of them.
Wena (V) is a Seniors Real Estate Specialist (SRES). A designation awarded by the SRES Council, a subsidiary of the National Association of REALTORS (NAR). She can provide you with information, solutions and local providers. Also read the blog on 9 tips to prepare your home for sale.
Here are useful links to follow:
SRES website: https://sres.realtor/
Smart Moves for Seniors in Transition: https://www.smartmovesforseniors.com/
RealVitalize Program: https://realvitalize.com/
Senior Living Options in Wisconsin: https://www.caring.com/senior-living/assisted-living/wisconsin
Contact her today for a meeting or send her a message.