Last month REIWA looked at the pros and cons of downsizing. This month REIWA gives readers a list of questions to ask yourself when it comes to downsizing.
Question number one is how much space do you really need?
Will you need an extra bedroom for family or friends to stay? Will you be working from home, do you need space to pursue a hobby?
There are many options when it comes to downsizing, such as an apartment, a lifestyle village or just a smaller house.
Some empty nesters face an unexpected twist if an adult child wants to move back home due to a relationship breakdown, financial distress or job change.
Some retirement villages have age restrictions on who can stay in the home, so make sure you look into this if you plan to have grandchildren sleep over.
Storage space is also important to consider. Do you need plenty of room for books, ornaments or other treasured belongings?? Many apartment buildings provide residents with a store room, while a retirement village or small house may have a garage where you can store extra items.
The adage of location, location, location is relevant to downsizers.
REIWA president Suzanne Brown says location is a very personal choice.
“Do you want a property that is close to family or friends, public transport, cafés or medical facilities? Do you want to remain in the area you know and love?? Are you looking for a sea-change or wanting to escape the city altogether?” Ms Brown asks.
REIWA has interactive maps on its website providing a range of information about an area, from planned changes to roads, proximity to community amenities, and bushfire or flood zoning. It also provides the journey time to frequently visited places.
REIWA’s suburb profiles on the site also enable suburbs comparisons to see data on property types, demographics, median sale and rental prices, distance from the city and more.
Ms Brown said if downsizers don’t know an area well it could be worth renting before buying so you feel confident in your choice.
“Apart from location, is there anything specific you’re looking for in a residence” she said.
“Many new apartment buildings feature swimming pools, gymnasiums or even cinemas. You will pay strata fees for these facilities, so be sure you will use them.
“Some lifestyle and retirement villages may have restrictions on items you can bring in or have limited facilities, while others may include a range of in-house services such as hairdressers, coffee shops, libraries and games rooms.”
Ms Brown said when it came to thinking about the future, it is worth considering mobility and health.
“Would a single-storey home suit you best so that you don’t need to navigate stairs? If you’re looking at townhouses or multi-level homes, do they have a lift or the provision to add one later?
“Features like wide hallways and doorframes, and hob-less showers are important for wheelchair access.”
Having made the decision to downsize Ms Brown said the next task was the even bigger job of packing.
REIWA provided these tips to make moving as stress-free as possible.
Give yourself plenty of time.
“You have a lifetime of memories to go through, and you don’t want to rush things. Give yourself ample time to go through your belongings and decide what you will be taking with you, what you will donate and what you will throw away.
“When purging, sorting and packing, break things down by going room to room. It can make the process more manageable. Just leave out the items you will need between now and the move.
“Making gradual progress and having a few items left at the end is always better than having to rush around packing up the entire contents of your house.”
REIWA says creating a system at the start of your move can save a lot of time and stress further down the line.
“A common system involves placing your belongings into one of four boxes, which streamlines the decision process, helping you efficiently decide what to keep and what to part ways with.
“The boxes can be labelled:
Recycle or dispose: These are the things that cannot be used or passed on to family, such as expired pantry items or disfigured and half-missing items.
Sell or donate: This is for those items that could be given a second chance through garage sales or online marketplaces. This box would include unused clothing or clothing in good condition, old bedding, appliances, furniture, electronics and home décor.
Pass it down: For belongings that have sentimental value consider passing them down the family tree for future generations. This can include family heirlooms, jewellery, old photos and kitchenware.
Keep it: This can actually be the hardest box to (not) fill. It’s tempting to think you will need everything but only keep the items you will use – and have space for – in your new home. You may need to revisit this box a couple of times and reallocate things to one of the other boxes.”
Digitising paperwork, old bills, receipts and user manuals sitting in a filing cabinet will not only help the environment but will also save space in your new home.
“Most companies now offer electronic billing and will allow you to go back and see past bills in one convenient portal. Many user manuals can be found online and you can scan or take photos of your receipts.
“Keeping your bills, photos and any other important documents saved on your computer will ensure you have them when you need them and save you space in your new home. Make sure you have them saved in a back-up location, whether it’s a hard-drive, USB or the Cloud on the off chance something happens to your computer and you lose access. Having a tech savvy family member or friend set this up for you will save you time and hassle.”
REIWA suggests changing purchasing habits which can also lead to less clutter in a new home.
“There’s two parts to this tip,” says REIWA.
“Purging and sorting in preparation for downsizing is pointless if you’re simply replacing old items with new ones. Wait until you move into your new home and see what you truly need before making any purchases.
“When you do buy new things, consider choosing smaller, more compact appliances and electronics, or products that can multitask. This will not only save you space, but time and money too. For example, a combination pressure/slow cooker can do all the tasks two appliances can do, but will also save you cupboard space and cooking time.
“Once you’ve moved in, take a good look at what you’ve brought with you. If you haven’t used it in some time – 12 months is a good guide – get rid of it.
“Downsizing is your opportunity to redefine what you need (and truly want) and get rid of those things you don’t. It might be the juicer you said you’d use but never have, or the pasta machine that you had to have after doing a cooking class.
“Naturally, sentimental items are worth keeping. Make sure they’re safely stored.
“While it can be a daunting and emotional task, downsizing is less about throwing everything away and more about keeping the things that are of actual value to you. Using these tips can help streamline the process and ease the stress that is often associated with it.”
