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When Is The Right Time To Downsize?

When Is The Right Time To Downsize?
Date Posted: 21/10/2021

MOVING WHEN YOU CAN or WHEN YOU HAVE TO

 

There are 2 ways to do a lot of things.

 

You can cut the grass this afternoon because it’s starting to get a bit shaggy and your schedule looks a little light at the moment. Or you have to cut the grass because you put it off for so long that you’re now going to need a machete to get through the first cut.

The main point and difference being “you can” and “you have to”.

You can go to the dentist for a cleaning and check-up or you have to go to the dentist because you’re now incapable of chewing yoghurt. 

You can get your tires checked because they seem to be getting worn. You have to get them checked because you’re now sliding to a stop!

Can and have to.


HOW DOES THIS APPLY TO YOUR HOME?

 

Over the years, we have seen many instances where people are now moving because they have to. Whether it is mobility, health or finances, delaying that move to the point of ‘have to’ can be a difficult process to see.

And make no mistake, the vast majority of the time, the reason for the delayed decision is completely understandable. It is your home after all. It’s the place where memories were made, and special occasions took place. You don’t just stand up one day and say that’s it, we’re moving! Well, some do but most don’t.

The trick though is to have that conversation and put a plan in place before the wheels start to fall off the real estate bus.

 

If you've said or thought some of these sentences, they are an indication that it is time to start the conversation. 


SOME THINGS TO CONSIDER:

  • I am finding the yard, garden and exterior upkeep to be too much.
  • I am dreading that first snow fall.
  • We have a level or area of our home that we no longer use because of the stairs.
  • Our bedrooms are 3 levels away from our laundry room and getting up and down is more and more difficult.
  • A lot of the larger ticket items (roof, furnace, c/a) are nearing the end of their life expectancy. Meaning, things are about to get expensive.
  • Our support systems (medical, family) are all further and further away.
  • We have our family to our home for a big Christmas dinner every year but it’s starting to not happen as they move away and have other obligations. (note: we often see people keep their homes for something that happens once or twice a year.)
  • Our home is stressing us out and consuming a disproportionate amount of our monthly income.

Here’s where things get challenging. We often see people hold on and hold on in spite of these or other warning signs.

Suddenly the gardens are overgrown, and the exterior paint starts to peel. The winters prove to be more challenging as the snow and ice make you more housebound. The furnace stops working so you are now renting a replacement. Warning: those rental furnace contracts are extortionate, often with a buy-out in the $10-15,000 range per unit!


THE BIG QUESTION TO ASK:

 

Why are we staying here?

 

The core reason is typically derived from fear which is a perfectly natural emotion.

  • Fear of the unknown.
  • What is the first step?
  • Where are we going to go?
  • How are we going to sell this place?
  • It’s too messy…people are going to judge us!
  • I don’t know what it’s worth.
  • Where do we start?
  • I’m not ready.

THE FIRST STEP TO TAKE

We have heard these and many others over the years and they are all understandable feelings and worries. Again, we are humans and our homes matter. They are so much more than the bricks & mortar. The “what do we do” stress is real, and it is important to discuss.

The key is starting the conversation. Maybe you’re not moving tomorrow or next month or this year even. But the process has started, and some kind of plan can begin to take shape.

There are a ton of resources, tips & tricks available for you so if you’d ever like to have a chat, please do not hesitate to contact us.

 

Our pledge to you:  our conversation will be with no obligation or pressure whatsoever.

 

Would you like to discuss further?

 

EMAIL, PHONE OR BOOK A CALL HERE