Eight things you should know about downsizing

If you're starting to feel like you've got too much house, you should consider the following downsizing tips. Some people thrive living alone, but many mistakenly think that living independently keeps them thriving, and that just isn’t so, says seniors real estate specialist Shelley Williams. Living in a house can contribute to isolation, feelings of helplessness, and contrary to popular thought, a loss of independence, especially if you need help from neighbours. A one or two bedroom condo not only offers less isolation, it’s a lot less work to maintain. We give you other things to consider when making the decision.


It won’t happen overnight

When making the transition from house to apartment, it is about a two-year process, so think ahead, advises realtor Shelley Williams.

“Unlike most deals, where the realtor finds the buyer a house, negotiates the deal and presents the contract, the process with a senior is much longer and more comprehensive.”

Some people have a house that needs top-to-bottom de-cluttering before they can even think about moving.

“Some of them have 30 years of stuff in the basement,” says Williams.

Then there’s the lengthy process it takes to find a new place, which will need to work with what you need and, in the case of older residents, will need to be senior-friendly.

Consider your needs and resources

How soon would you like to move? How much can you afford to pay for a place? How much space do you need? Would you like a view or pet-friendly building? Are there relatives or friends who can help with de-cluttering and moving?

“Once I find out what makes sense for them, then we start to make arrangements to poke around and look at properties,” says Williams.


Read more: http://money.ca.msn.com/retirement/gallery/eight-things-you-should-know-about-downsizing

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