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A Quick Guide to Helping Your Loved One Downsize

Wednesday March 24, 2021

Downsizing

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Do you have a parent or older loved one who could benefit from downsizing? Perhaps they’re having trouble maintaining their vast square footage, or they could benefit financially from moving to a smaller space. Either way, selling a home that’s full of memories is never easy. Fortunately, approaching the issue in the right way can make it less overwhelming.

Learn some tips for helping your loved one make their move with ease here in our guide to downsizing…

Preparing for the talk

It’s always challenging to delve into the downsizing process, but it can be especially difficult if your loved one is resistant to the idea. When that’s the case, it’s crucial to approach that initial conversation with great care.

Be upfront about your concerns while highlighting the positive aspects of a potential move (like a lower-maintenance lifestyle and the opportunity to put money towards living life to the fullest). You can find more tips for broaching the subject here.

Above all, remember that you’re not meddling. You’re helping someone you care about take a critical next step.

Bringing options to the table

Making a major life change can feel daunting in the beginning. Fortunately, you can make things easier for your loved one by helping them imagine the possibilities that go along with downsizing.

What kind of beautiful smaller living spaces are available? How much money could your family member save for their dream vacation if they weren’t pouring it into their house? Look into the potential savings, along with the costs associated with condos or assisted living residences you think they’ll love—and be ready to discuss.

If and when your relative is ready to sell, a qualified local agent can help them understand how much their living space would likely sell for in the current market.

Start decluttering well in advance

When selling a home—especially one that’s been in the family for years or decades—a very thorough decluttering is crucial. Sorting through memories can take time, so be sure to get started as early as possible.

Here are a few tips for helping your parent, grandparent, or older relative pare down their possessions.

Go room by room

Chances are, there’s going to be a lot of ground to cover. Your best bet is to start early (several months before your loved one will likely move) and begin with the most cluttered room in their home. Beware the trap of simply shifting belongings from one area of a property to another.

Donate, donate, donate

From duplicate appliances to sweaters that haven’t been worn in years, many of the items that should be donated are obvious. Look into local charities that could take them early on. If there’s one that your family member has a connection to, even better!

Honour the memories

If your relative has been in the same house for a long time, they’ve created a lot of memories there. During the decluttering process, take it slow—and be open to talking about the experiences attached to various items.

There are also some great ways to display much-cherished belongings in a new, smaller space. From framing old photographs to purchasing stylish shelves, consider turning decluttering into a fun family project.

Getting a property in show-ready shape is one of the most important steps toward securing a great price. From decluttering to working with professional cleaners, every part of the process counts.

Work with a local expert

You want to work with an agent who has a proven track record of securing successful results. Your loved one’s home is likely their largest investment, so getting the highest possible return (through top-notch staging, polished marketing, and negotiation know-how) is key.

If a home purchase will be part of the downsizing process, it’s best to work with an agent who also knows what to look for in a smaller property in your relative’s price range.

The truth is, your family member should feel free to ask questions when you’re zeroing in on the right agent. That’s what the interview process is all about! Speaking to a professional’s past clients can also help you understand what working with them will really be like.

Thinking about estate planning

Talking about wills can be pretty uncomfortable—which is why many people put it off. Of course, just because your older loved one isn’t bringing it up doesn’t mean it hasn’t been on their mind. Once you start downsizing, it’s the perfect opportunity to start a conversation about their financial wishes, whatever they may be.

Make sure your family member knows that your goal is ensuring their peace of mind. One of the most helpful things you can do may be introducing them to a qualified financial planner with the right expertise.

If someone in your family is ready to downsize, there are steps you can take to reduce the headaches that often come with the process. We’re here to help.

Ready to learn how we can simplify the downsizing process? Get in touch to take advantage of our expertise!

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