The economy has been sluggish for several years, another recession is looming and consumer confidence is still low. In these tough times, people are learning to do more with less. This is apparent in the trend towards smaller homes, apartments, and condos. While downsizing sounds easy, there are certain things one should consider.
Where will you be downsizing to? Are you staying in the same area or moving out of state? When moving out of state you have to consider the costs, job market and schools for your kids. Are you going to purchase a home or rent? Is it better to rent a house, apartment or condo with your lifestyle?
If you plan to purchase a home, renting an apartment might be a good start. Renting first will give you a familiarity with the neighborhoods, schools, commute, shopping and safety issues before finding a more permanent place. Talk to co-workers and locals to learn more about the area and by the time you are ready to purchase a home, you’ll know exactly where you want to go.
You also have to consider what to dispose of and what to keep. Just because you are downsizing, it doesn’t mean you have to get rid of everything as some of your possessions will have meaning and value to you. Other items can be sold, donated or thrown out. Some of your larger items may not fit in an apartment but will be needed once you purchase a home. A storage unit can be a good resource in these instances. Storage units are great during the relocation process, can be found easily and are usually relatively cheap.
Downsizing is a big change and it may take some time to adjust to your smaller living space. Be sure to no clutter your new space and your adjustment will go smoother and be less stressful.
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