Tips for home down­siz­ing

Lesotho Times - - Property -

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.

— Prop­erty24

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