New home resolutions and downsizing can go hand-in-hand
Is buying a new home on your list of resolutions? Does “How do I get from Point A to Point B” cross your mind? Would a new home purchase require some downsizing? For some, this is a turning point that brings a full range of emotions. For others, a more practical-less-sentimental approach serves them best. In all cases though, planning is key to making the move as smooth as possible. Keep in mind that there’s countless literature on downsizing and there’s a reward at the end of the journey…a new home that sparkles with your favorite things!
Here’s five points of consideration:
- Set goals and seek resources. Evaluate your needs, desires, and preferred price range and then seek resources to support and/or further define your goals. If you need to sell your current home, consult a real estate professional to analyze how to prepare your home to sell, including staging. He or she can also provide you with an estimate on your Net Proceeds from the sale of your current home. From there, consider meeting with a financial planner or loan officer to determine your homebuying options. We see all sorts of purchases, ranging from reverse mortgages to cash purchases. Find a trusted advisor(s) to help you achieve your personal financial goals as well as purchase a new home.
- Tour homes in areas of interest. Being close to family, friends, wellness activities, and healthcare are all considerations, in addition to shopping proximity. Touring homes of interest, either with your real estate professional or simply on your own by canvassing Open Houses can help you envision your new lifestyle.
- Set realistic timeframes. If downsizing and considerable staging is involved, it’s important to understand that the process may take longer than you expect. Allow yourself enough time to sort at a comfortable pace and ask for help when you need it. It helps to sort by categories:
- Keep your favorite furniture and items including your most treasured pieces
- Give items that you no longer need (or have space for) to friends, family, etc. who would be appreciative, either sentimental or practical
- Donate any unwanted items that still hold value
- Toss any tired or broken items
- Shift your staging perspective. Once you’ve made the decision to move to a new home, it’s easier to go about the staging tasks if you can view your current home through a different lens. Seeing it as a “product” instead of a “home” will help you in minimizing personal family photos and keeping it fresh and tidy. This will ultimately lead to a shorter marketing time and higher sales price.
- Communicate often with your real estate agent and financial person. They are working for you and want you to succeed. Discuss your options for interim housing if needed, or intentions to simply wait to purchase once you’re under contract with your current home. Good communication is key in keeping all scenarios moving forward.
Buying your dream home in 2023 might be easier than you originally thought! We invite you to take a closer look at East Ridge Village by Blackrock Homes. Our homes are well-appointed with beautiful finishes and thoughtful floor plans, all designed for a smaller footprint in a gated community. Will (208.867.1622) or myself (208.250.2774) would be happy to give you a tour of our lovely 55+ neighborhood at your convenience.
Wishing you much success on your goals and endeavors in 2023! Thank you for taking the time to read this post.
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