
You’ve worked hard and enjoyed your success in a beautiful home. Maybe your children have moved out and are starting their own lives. Maybe you’re closing in on retirement and you’re thinking now may be time for a change, something that fits the next stage of your life.
Right-sizing is a big step, but it doesn’t have to be a difficult one. Here are a few tips if you’re thinking of making the move.
1. Understand What You Want Before You Start Looking
Don’t just think about your home, think about how you’re planning to live. Do you want to travel more? Be able to walk to shops and cafés? Live closer to family? Maybe you’re looking for something lower maintenance, a condo or townhome with some nice community amenities and where things like landscaping and snow removal are taken care of for you.
Downsizing is about aligning your home with the life you want now. It should never feel like a compromise.
2. Consider the Costs, Not Just the Price
A smaller home typically means a lower price tag, and lower associated costs like property taxes, and utilities. But if you’re moving for convenience and community amenities, these do have ongoing costs associated with them like condo fees. Be sure to factor them in when you are comparing properties.
3. Location Matters Now More Than Ever
Right-sizing typically opens up options for location. You’ll want to consider proximity to healthcare, grocery stores, and public transit, which can be huge value additions. If you’re moving out of a long-time family home, make sure the new location offers the lifestyle support you need.
You may also want to look for a sense of community, such as those offered in a boutique condo or townhome development. Close neighbours can support you both socially and practically.
4. Take Inventory
If you envision yourself making the move in the next few years, it’s wise to start taking stock your belongings early (if you plan to stage your current home before you sell it, stagers will usually want you to put away most of your stuff anyway). This process takes time, and it’s best done gradually. You can gift pieces to friends and family, donate furniture to charities, or sell it online.
All this said, in your next home you will want to pay attention to their storage solutions, especially because space will be at a premium. Homes with built-ins, clever closets, or access to extra storage (like lockers or garage space) can make the transition easier.
5. Make Room for What’s Important
This is perhaps the most important one. Right-sizing is above all else making sure you still have the room for the things that matter most to you. That could be a timeless piece of furniture, your prized library, or simply the space where you can entertain your closest family and friends.
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Trinity Point has recently launched Noble Residences, an upscale boutique condo in the heart of Vaughan. Located at Major Mackenzie and Keele in the heart of historic Maple, the new community has been thoughtfully designed with beautiful living spaces, entertaining areas, terraces, as well as shops and services on the ground level.
Register now for all the latest updates on Noble Residences.