Sizing Up Downsizing

Downsizing has been a hot topic these days, especially when the market was on fire last year. While it’s a typical step at some point in a homeowner’s life many people ask how will they know they’re ready. Here are 5 strong indicators:

• You’re ready to relinquish the turkey or in other words you’re mentally ready to downsize. From giving up the extra space that facilitates larger social events such as Thanksgiving to leaving the pattern of life you’ve established in that home and neighbourhood you’re ready for the lifestyle changes – and opportunities – that come with downsizing.
• Your space requirements have changed significantly enough to warrant making a move. You’re looking for a space that is a true size reduction vs. a home that’s only a little smaller than what you have now.
• The math makes sense. You know how much equity you want to take out of your home and doing so leaves you with enough to purchase or rent the type of home you want.
• It’s the right time for your family to downsize. From kids to dogs you’re not creating hardships for loved ones – or if you are you have a plan to offset their discomfort.
• You’ve spoken to the experts in your life to get their support and guidance. From financial advisors to real estate agents your team of specialists can help you to plan for and manage life transitions to optimize the opportunity and experience.

Like any transition, even in ideal circumstances, it doesn’t come without its stresses or discomforts but when the timing is right re-sizing your home opens the door to an exciting new chapter.