From A Woman's Perspective: November 23rd, 2024 "What Comes after the Decision to Downsize?"

What Comes after the Decision to Downsize?

Last week we discussed timing the decision to downsize based on your age and stage. We discussed the “Go-go,” and the “Slow-go,” and the “No-go” phases of retirement and the corresponding financial needs that each stage can present.

Today, I’d like to continue the conversation to address what comes after the decision to downsize. Mentally, you have acknowledged that your home doesn’t suit your current or future aging needs. It’s too big, too much work, and has too many stairs. Or maybe your neighbourhood has changed and is too busy and too lonely for you to still feel like it's home. Or maybe your kids are out of town, or out of the province or even out of the country and you’d rather be close to them and the grandchildren, rather than only seeing them every several months.

Whatever your motivation to sell your home, the decision is going to spark a cascade of follow up questions. Creating a plan based on your answers is what SMART Realty Solutions does best for our downsizing clients. Let’s start with the basics:

1. Where will I/we go next?

In our workbook, “Downsizing Done Right,” we lead you through the self-discovery process of identifying the property options that suit the bigger picture of your retirement goals. Are you looking for maximum financial freedom? Then perhaps moving to rental accommodation makes the most sense. Are you wanting the stability of owning your own property in your existing neighbourhood but with less work? Sounds like a condo townhouse might just be the ticket. Want less work and fewer stairs? A condo apartment sounds best. 

Then it’s time to go out and actually look at properties that might suit you. You’ll very soon discover that condo apartments, for example, come in a huge variety of sizes, prices and amenities. By actually seeing new properties you can better picture yourself in them to determine if they fit. You do have options, which is great, and the answer to where to go next is going to involve the process of elimination as well as inclusion. 

2. What’s our ideal timeframe?

You may not know this about me yet, but I have a magic real estate wand that I can just wave and make your ideal time frame come true. What would that look like for you? You’d like this to be the last winter alone in your house? By next spring you want to be free of exterior home maintenance? Or does it depend on your upcoming retirement? Maybe you’re waiting to downsize until your adult child gets a place of their own. (By the way, I can help with that, too.) 

When it comes to realizing your ideal time frame, we have a small army of allied service providers ready to help you get from point A to point B with less work and worry.

3. How should we prepare our home for sale?

If you’ve been listening to me for any time at all you know that the #1 thing you can do to prepare your home for sale is to declutter. Our workbook, “The Decluttering Battle Plan,” will help you overcome the overwhelm with a proven five-step strategy to conquer clutter. It’s absolutely essential to anyone considering downsizing because we know that surplus stuff stops seniors from getting unstuck from homes that no longer suit their lifestyle. 

If you’re wondering what cosmetic changes you might consider making, that’s a question that can be answered with either a consultation or by downloading our workbook called, “Best Renos for ROI.” Everything mentioned today is available at our website, smartrealtysolution.com or by calling me, Sharon, at 416-460-5636.

4. Who do I need to include in the process?

I highly recommend involving the people closest to you, be they family and/or friends. These folk can be an important source of mental and emotional support. It’s great to have a sounding board as you work through your options, especially if you are doing this alone. There’s a Proverb that states, “In a multitude of counselors there is safety.” So ask your friends their opinions, but always keep your decision-making power for yourself. 

There are also practical ways that your sphere can be of assistance. They might have had good experiences with contractors, or know a charity accepting donations.

There’s plenty of physical help needed, too, that they might assist with. Toting boxes and sorting possessions is best done with many hands making light work. 

Finally, don’t forget that choosing the right downsizing Realtor™ can be like hiring all of these people in one. We have the experience, knowhow and connections to get you moved no matter who you do or do not have to help with downsizing. 

So there you have it: the Where, When, How, and Who of downsizing in a snap shot.

For a complete selection of resources for downsizing seniors, visit smartrealtysolution.com. Or call me, at 416-460-5636, and we can set up a no-cost, no-obligation discovery call.  

My name is Sharon Parenteau and these have been your SMART Realty Solutions for today.

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