Downsizing to your Dream Home– What you Need to Know

Real estate: A row of new townhomes with bright red fall trees

Are you thinking of downsizing?  With all the new condos for sale in Richmond, there may not be a better time to trade in your home and enjoy all the perks of condo living.  Many of the new developments offer a wide range of amenities all with an accent and décor for modern living.

Downsizing makes sense in so many ways.  As a realtor and an expert in the Richmond condo market, I would like to offer you these important tips as you make the move from a stand-alone home to your dream condo.

Plan Ahead

Before making the final decision to downsize, make sure you have thoroughly done your homework and have a realistic plan in place.  That plan includes the following:

  • Know the neighbourhood – make sure that you have visited and spent some time in the area that you are going to be moving. Ensure that the things that are important to you (shopping, parks, and public transit) are in or near the neighbourhood that you will be moving.
  • Think about what you will bring with you – downsizing means that you will be moving to less square footage, therefore, you will have to part with certain items. Make sure you have thought about what you will be taking with you and what you will be leaving behind.
  • Talk to your family – consider your family part of the downsizing process. Talk it over with children and make sure that it is something that everyone wants.

Remember:

Downsizing is a huge transition, so make sure to do as much planning as you can to help reduce the stress and anxiety that may arise as you get closer to moving day.

Internal Storage

Storage is an integral part of downsizing.  There are numerous, creative ways to organize and store your belongings, such as closet organizers, drawers or spaces under your bed, bookshelves and many more.  Most apartment sized furniture now has built in storage as well.  Remember to get imaginative and utilize all your condo’s potential.

Even with the most creative storage, you may need to look at renting a storage container.  This is especially true if you are not ready to part with your piano or dining room table.  There are many options for storage throughout Richmond, so call around and see what option is right for you.

Finances

One of the biggest reasons that people are downsizing to condos today is to set themselves up for retirement.  Downsizing will not only set you up to be mortgage free, but it may also finance your travels for the next 5-10 years.

The real estate market has never been hotter. Downsizing can be a wise, financial decision as it will save you money on upkeep, property tax and energy.

If you feel that downsizing is right for you, I would love to show you some of the new, exciting condos that are on the Richmond real estate market today.  Feel free to give me a call today, so that we can get started.  I look forward to working with you.

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