Looking to Downsize?

By Phillip Elmowy

Are you looking to downsize from your family home as the kids leave the nest? As a young family with children, looking around for real estate means taking into account a variety of different factors like planning ahead for bedroom amounts, school zoning, public transport, local parks etc. But once all the youngsters have left home, the house which seemed to be constantly full, alive and thumping can all of a sudden seem just a little too big for only you and your spouse.

The idea of downsizing to a smaller, more comfortable home could be something to consider in order to avoid paying for a larger house which may seem slightly empty these days. Leaving all that space may seem like you’re giving up a lot, but it soon becomes evident that the space is unnecessary and possibly hard to up keep.

Finding a smaller house or apartment has a number of benefits.  If you’re keen to stay in your current area, close to familiar places and family friends, looking around your current area would be the first step to take.

Downsizing your home often means selling or giving away excess furniture which won’t be able to fit in your new residence. If your children have homes and a need for furniture, why not donate it to them? This way, beloved family heirlooms can at least remain in the family. Alternatively, if you’re not ready to pass them along quite yet, storage facilities can house all your treasured family possessions which can’t come to your new home.

If you’re looking to downsize into a luxury apartment complex somewhere with a swimming pool or elevators to make life easier heading into your Golden Years, be prepared to pay a little extra for the cost of the unit. These extra costs are known as strata fees and go towards the general maintenance of the complex like the lobby and swimming pool and/or gym.

If you are considering downsizing or have any questions, feel free to speak with one of our agents and they will be happy to help and answer any questions you may have.

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