fbpx

The Decision to Downsize

March 12, 2022

When it comes to downsizing a home, we often think of empty-nesters or retirees. But there are a other reasons to downsize at different stages of life and in various circumstances. It could be a move to save money–whether by necessity or choice. Many are attracted to the idea of downsizing just to simplify their life–reduced time and concern with maintenance, fewer material needs, etc. Or there are the typical life changes that bring about downsizing — children moving out, moving closer to children, practical needs for a one-level or low-maintenance home.

Let’s explore some advantages and disadvantages to downsizing, as well as additional considerations, what kind of home to look for, and how to get started.

Potential Advantages to Downsizing Your Home

  • simplify your life and decrease stress
  • free up time spent on maintenance
  • many smaller homes are in walkable areas and close to many amenities, like shopping and restaurants.
  • Finanacial benefits: Pay down debt, boost retirement fund, pay off mortgage, lower utility bills, accumulate fewer belongings

Potential Disadvantages of Downsizing a Home

  • less room for guests
  • fewer room for belongings
  • some people struggle with a sense of loss of prestige or status
  • lifestyle changes and adjustments
  • unexpected increased expenses – higher cost of living in chosen area, new furnishings needed for smaller-scale home and rooms
  • closer living quarters might mean less “alone space”

Considerations

Is the size of your home important to you? Has it contributed to a sense of status, or accomplishment as you have a acquired more and more over the years. You may struggle with letting go of that, OR you may find it freeing (or a bit of both). What might you miss? Houseguests, entertaining? Room to spread out for various activities–you may find that there is now only one room that has to accomodate what you used to do in separate areas–crafts, quiet time, tv-viewing, etc.

Will the financial benefits outweigh some of the new costs–furniture replacement, HOA fees, property taxes, etc. Will you be able to find the kind of home you want in the area where you want to live? Will you have regrets after downsizing?

Buying/Selling/Type of House

Are you just looking for a smaller house, or do you need one with increased accommodations for mobility or other needs? Do you want an outdoor area that is shared/maintenance-free? Should you buy your new home or sell your existing home first? You’ll want to speak with a financial adviser about these particular questions.

Contact us for more information about downsizing or to start the process

How to start preparing?

It’s never too early to thinking about prepping your home for sale. Even if you don’t sell, it’s a great feeling to declutter and spruce things up a bit.

Tips for getting your home ready

Tips for downsizing your belongings/decluttering:
https://www.rocketmortgage.com/learn/how-to-downsize-your-home
https://www.mymove.com/moving/guides/senior-guide-downsizing/

Recent Instagram Posts

Have you visited Lark Cafe? It`s the most adorable neighborhood cafรฉ nestled in Historic Willamette.
They are open daily from 7am-3pm and serve
coffee, pastries, breakfast, and lunch! ๐Ÿฅ— ๐Ÿฅ˜

Check them out on Instagram @larkcafeoregon

Have you been? What should I try the next time I go? ๐Ÿ˜‹
...

12 2

Itโ€™s been a while since we did a #storytimewithheather. I see a lot of crazy things in real estate being in peoples homes. This one is an interesting one! ๐Ÿซฃ๐Ÿ˜ตโ€๐Ÿ’ซ ...

38 12

๐Ÿ“FOR SALE in West Linn, OR!

โœจ NEW LISTING โœจ by RRG agent @rockin_realestate_or!

$515,000

2 bedrooms | 2 bathrooms | 1,348 square feet

-Spacious layout, accessible design
-Pet-friendly
-Convenient location

Want to see more pictures and the floor plan? Check out the link in my bio or in stories!
Follow me @robbinsrealtygroup for the latest listings and real estate tips.
DM if you have any questions. ๐Ÿ’š
...

16 0

Is it a struggle to find the right home while staying within a budget? I have some thoughts:

First, let go of the idea that the perfect home exists. Instead, focus on finding a home that ticks most of your boxes and has the potential to grow with you in the coming years.

Second: Prioritize your must-haves and make a list. This way, you can focus on whatโ€™s important and avoid getting sidetracked by non-essentials.

Must-haves might include things like:

ยทย ย ย ย ย ย  A sufficient number of bedrooms and bathrooms

ยทย ย ย ย ย ย  Adequate square footage

ยทย ย ย ย ย ย  Safe neighborhood

ยทย ย ย ย ย ย  Good school district

ยทย ย ย ย ย ย  Reasonable commute to work or school

ยทย ย ย ย ย ย  Access to public transportation

ยทย ย ย ย ย ย  Outdoor space, such as a yard or balcony

ยทย ย ย ย ย ย  Parking availability

ยทย ย ย ย ย ย  Move-in ready condition

Wants are features like:

ยทย ย ย ย ย ย  Updated kitchen and bathrooms

ยทย ย ย ย ย ย  Open floor plan

ยทย ย ย ย ย ย  Additional living spaces, such as a den or bonus room

ยทย ย ย ย ย ย  Walk-in closets

ยทย ย ย ย ย ย  Energy-efficient appliances or features

ยทย ย ย ย ย ย  Smart home technology

ยทย ย ย ย ย ย  Pool or other recreational amenities

ยทย ย ย ย ย ย  Home office space

ยทย ย ย ย ย ย  Architectural features, such as vaulted ceilings or bay windows

The biggest takeaway? Donโ€™t be afraid to think outside the box.ย Itโ€™s okay to look at homes that require some work to hit your list of must-haves. With a little creativity, you may just be able to transform it into your dream home over time.

I have a lot of experience going through the process of determining needs vs. wants. I can help you make that list and then make it a reality.

Follow: @robbinsrealtygroup for more real estate tips, latest listings, and more. ๐Ÿ’š
...

13 1

What is rightsizing?

Itโ€™s the right sized home for you, right now. Thereโ€™s times you might need a bigger home in one season of your life but in a different season you have different needs. Are you in need of a RIGHTSIZING change in your current season of life? Send me a message. Iโ€™d love to chat with you about your real estate goals. ๐Ÿ“ฒ

Follow: @robbinsrealtygroup for more real estate tips, latest listings, and more. ๐Ÿ’š
...

17 2

Have you been to Ranee`s on Main in Oregon city? Itโ€™s delicious any time of the day AND they serve their delicious breakfast dishes all day long. ๐Ÿฅš ๐Ÿฅ“

This time I got the butternut squash and turkey sandwich, both were a home run. ๐Ÿ‘๐Ÿป

Check Ranee`s out: 1003 Main St. in Oregon City. You won`t regret it!

What should I try the next time I`m there? ๐Ÿ‘ฉ๐Ÿปโ€๐Ÿณ
...

27 4

At Robbins Realty Group, St. Patrick`s Day is our favorite holiday, for obvious reasons! ๐Ÿ˜‰ ๐Ÿ’š

Happy St. Patrick`s Day! May the luck of Irish be with you! ๐Ÿ€ ๐ŸŒˆ
...

10 2

FOLLOW US

Stay up to date on news and listings that are coming soon!