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The downsizing process can seem intimidating as you prepare to purchase and move into a new home. However, it’s no different than any other time and with the profits from your current home, you could even be able to pay for the property outright and start living a mortgage-free life.
There are a wide variety of different scenarios that could lead to someone downsizing their property. Whether you’re looking to move to an area closer to work or a change to your financial status means you need a cheaper property, being organised and proactive can help make the whole journey much easier.
Find the right property
If you’re considering downsizing your property, then the first thing you need to do is find a suitable house to move to. When choosing a new property, there are a variety of factors you need to consider:
The area – Whether you’re looking to be closer to work or just have a specific area in mind, where you look for a property can have a huge impact in the price.
The size of the property – You want to make sure that the size of the property you’re downsizing to is realistic. If you’re currently living in a 3-bedroom house, then a 1-bedroom home may not be a realistic option.
The price – This is potentially the most important aspect when downsizing. The price of the new property will dictate whether or not you’ll need a new mortgage and if you’ll receive any of the proceeds from the sale of your current home.
De-clutter your possessions
It’s easy to fill the space we have with things we don’t need. However, downsizing your house means you’ll have less space for all the things you’ve accrued over the years. While a lack of space may put some people off the idea of downsizing their houses, it presents the perfect opportunity to remove any clutter from your life.
One of the main reasons people downsize is to free up some cash they have tied up within their house and selling anything that you won’t need in your new house can help add to the extra cash you receive from moving into a smaller property.
Measure your furniture
The furniture you bought over the years was done so with the intention of fitting into your old house. With a new, smaller house on the way, you need to make sure that your furniture will still fit. By pre-emptively measuring your furniture, you can create room plans which will give you an idea of how much space you’ll have when moving in.
Having a floor plan can also help you make tough decisions before you move in. While a bed may have fit perfectly in your current house, it may take up too much room in your new house, meaning you’ll either have to find a new bed or sacrifice something else to ensure there’s enough room for the essentials.
When it comes to the moving day, you’ll hopefully be prepared for a stress-free transition and can easily find new places for all your possessions.
Moving to a new house is never as simple as we want it to be, especially if it’s due to circumstances that see you struggling in your current house. However, by preparing to downsize you can try to streamline the process and have a plan in place, so you know where to start.
At We Buy Any House, we can help you downsize quickly and efficiently. Our service is quick, so you could have the money in your account within 14 working days. We also take care of all the legal work, so you can focus on securing the right property for you.