Tips for home downsizing
DOWNSIZING from a large, freestanding property to a smaller, more manageable unit within a retirement estate can provide several lifestyle benefits for those who are planning to retire.
This is according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who says that aside from the fact that a smaller home will be far easier to maintain, it also provides the owner with far more freedom to be able to lock-up and go any time of the year without worrying about maintenance or the upkeep of the property while they are away.
“While a home with features such as a large garden or swimming pool is ideal for homeowners with growing children, these features cost money and take up a lot of time to maintain.”
Downsizing will give the retiree more time to pursue other interests and will have the added bonus of significantly reducing the monthly costs of rates and taxes, utility bills, insurance and security as well as maintenance and repair costs, says Mr Goslett.
However, downsizing a property for retirement is not simply a matter of selling a large property and buying a smaller one.
“Over the years it is natural to collect things and buy furniture and items that fit a larger home. Reducing the size of a home will also mean reducing the amount of items that can be moved into the smaller space,” says Mr Goslett.
It is important to pare down on possessions where possible. While it may seem like a daunting exercise, any home would need to be decluttered regardless of whether a homeowner is looking to downsize or place their home on the market and move, he says.
According to Mr Goslett, there are a few steps that can help homeowners to downsize efficiently and prepare them for the move:
better to be prepared for this.
According to Mr Goslett, homeowners who have an assortment of valuable items that they would like to sell could consider making use of an auction house. An auction house is the ideal avenue to sell items such as antique furniture and artwork.
An appraiser would come to the home to assess and value the items in the lot before taking the items to auction.
This will provide the owner with an estimate as to how much they can expect on the day of auction.
There are several charitable foundations that do amazing community work, which would benefit from a donation of household items.
“Organisations such as the RE/MAX Foundation can only do the work that they do due to donations made by the public.”
Making a donation is a way to downsize and provide assistance to members of the community who are less fortunate. “Knowing the items are going to people in need will make it far easier to part with them,” says Mr Goslett.
He says that downsizing and decluttering will enable retirees to save on costs and have more time to themselves, meaning they will be able to enjoy retirement to the fullest.