How To DOWNSIZE Your House
How To DOWNSIZE Your House
Today I’m talking about How To DOWNSIZE Your House… Part 1… In which I talk about Downsizing Pros and Cons Is Bigger Better?
Let’s say you have a big house or a big piece of property… or both… and you’re looking at the future and thinking that MAYBE it’s time to downsize a little or maybe a lot…
Now what???
I know… you’re saying: “can we talk about something else please?”
How do you go from BIG to Not so Big?
What do you do with all your STUFF?
Where the heck do you even start???
Let’s say you have one or more of these:
Big House
Big Yard
Pool
All that means you have a lot of Upkeep, more Maintenance, More Utilities, More Property Taxes.
What if you have…
STAIRS…
Let’s say you’re in your 50’s or 60’s or more… and you’re doing fine on the stairs… fast forward 10-20 years from now… do you think you’ll love going up and down them all day every day?
How ARE your knees anyways?
Mine are just fine…. after that surgery…
If you’ve owned a house for a while, you probably have equity. Equity that you can tap into by selling your big house and scaling down and pocketing your equity.
Ok… let’s get more cozy… what are you going to do with all your STUFF? If you’re scaling down… you’ll need scale down your stuff as well.
Let’s get even more uncomfortable…
Let’s talk about your dining room. How often do you use it? Once a year? 2… maybe 3 times?
I know that table you got from your grandmother & seats 12 has been around a while… and the 2 sets of china & crystal. I get it…
If you have a dining room that’s 15′ x 15′ and your average $ per square foot is $1,000… for rounding purposes… that dining room is worth $225,000.
If you use it say… 20 hours total a year… That’s $11,250 per HOUR to use it.
I’m no mathematician … but that sounds ridiculous!
I know it’s ridiculous math… but I’m using it to make a point…we’re talking about scaling down… you’re going to have to get rid of a lot of your STUFF.
You’ll have to make decisions about every piece of furniture and all your cat creamer collections, your high school yearbooks, your huge library and your CD and 8 track collections…
A lot of people just say : “It’s OK… We’ll just put it in storage”
Yes.. that’s a possibility. Let’s do more math!
But I love ridiculous math!
Stay tuned for the 2nd part of this series… Storage and Scale Down
Cheers!
Virtually Yours…
Daryl Palmer Real Real Estatetist
Re/Max Estate Properties RE# 1986622
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