Downsizing to a Standalone Home

Are you a “glass-half-full” or a “glass-half-empty” person? Half the battle is within your mind. Whether you call the process downsizing or side-sizing or right-sizing does not matter. It’s how you approach it that matters. Think of it this way. Your family had their best years in your current home. The kids grew and enjoyed many happy memories in your home. You made great friends in your neighbourhood. Your children enjoyed the schools and community in the area. By selling your home you are helping a younger family with kids go through a similar cycle.

We know this is not an easy conversation to start. But believe us, it will be one of the most important things you can do for yourself and your adult children.

It’s natural to leave things alone until it’s necessary to deal with them. Many parents don’t see the need to purge often or throughout their lives. Over time “stuff” starts to pile up. The longer you leave it, the harder it gets to make decisions on what has accumulated. What do you keep and what do you scrap?

Then one day something unforeseen happens. All those decisions YOU didn’t make, become a huge burden for the rest of your family and children. Someone has to them make those harder decisions on your behalf. And trust us that is not easy on anyone. Make those decisions along the way. 

Here are some tips on how to best start the process

• Our best advice is to start the discussions early as possible. Do that as a couple if possible.
• Make it a positive experience
• Purge and clear out as often as possible.
• Put pen to paper – Write down what you want.
• Don’t have any predetermined outcomes.
• Most important of all, if you are able to make the decision on your own, don’t get an outside opinion. This is especially true of children and extended family.
• The more opinions you get, the more complicated the process becomes.
• It’s YOUR home – YOUR decision – YOUR choice.

The thing that we find people have the toughest time letting go of are the memories. Over the years, you’ve made a ton of memories – some great and some not so great. Every room in the house brings back those memories as if they were happening now.

Here are our suggestions on how to approach this topic as and when it comes up.

• Today, we’re lucky enough to live in a very digital world. Taking pictures and making movies is a breeze. Make use of this technology to treasure your memories.
• Go through your home room by room. Think of all the good times you’ve had in those rooms. Take as much time as you need.
• Take as many pictures as you want. Put your thoughts and words on camera.
• This will make you feel like you are packing your memories and treasured moments with you.
• The more you do this, the more you’ll realize that these memories are a part of you and not the house.
• You’ll end up detaching the memories from the house.
• It will bring you peace of mind as you relive those moments.
• Best of all you can bring them back as often as you want by reviewing your recordings.
• You’ll soon realize that you don’t have to be in your house to enjoy your memories. The memories are not a part of the house – they are a part of you.

As you discuss your way through the process, keep a positive attitude. It will serve you well in the journey. Here are some ideas you can consider when starting this journey. Always remember it’s Your Home – Your Decision – Your Choice

• Make your wish lists on paper.
• Listen to each other.
• Express your feelings but also give your partner an equal say.
• It’s OK to agree to disagree
• Take timeouts if needed – this may take you weeks or months to get past this stage.
• Above all be ready to compromise.
• Take stock of your situation. Ask yourself questions like.
• Do you want to make selling your home part of the equation?
• Do you want to move to a new area or stay in the same neighbourhood?
• Do you want to buy a similar house?
• Should you buy a smaller house or condo or townhouse?
• Do you want your children or grandchildren to have space for when they visit?
• You might find that you need a larger home. Or you might want to “right-size” to accommodate your needs.
• You may even find that you could consider buying a second home and rent.
• The result of all the above will be the beginning of a plan that you can develop and grow into.

Once you’ve made some initial decisions, you’re ready to take the next steps. Take stock of your current home. Things to ask at this point are

• What do you like about your current home?
• What did you not like about your home?
• What is an absolute MUST HAVE list in the new home?
• What characteristics do you want in your new home?
• Should the new home be an Easy care home?
• Do you need to be near family and friends?
• Do you even want to stay in the same country?
• Are there any specific needs that you have?
• Discuss all your priorities but also be flexible
• Agree and if necessary, compromise on both your wishes
• This time your answers will start to point you towards what type of home you want to be in

The value of your home is going to determine many of your future decisions. This is where you MUST rely on the help of a good Realtor. Realtors are qualified to give you a fair assessment of what your home could sell for in the current market.

Your situation is a little different from the average person looking for a home. You probably need to make some life-changing decisions. Some of these could define what you do for years to come. Look for Accredited Senior Agents who are trained to provide you with advice and services that fit your needs.

Every home is unique and has a value depending on who’s asking. There is a Seller’s price and then there is a Buyer’s price. Somewhere in there is what’s known as the Market Value. Your realtor’s job is to guide you to a realistic value that your house will fetch in the current market. They have the tools and skill set to help you with this phase.