Are you truly ready to downsize? Ten questions to ask yourself before downsizing By Rose Ogbonna
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arious reasons lead to downsizings, such as the need to save money, the city’s location, or a house with extra rooms no longer serving its purpose. Before downsizing, one must ask several questions that act as a guide. They include; 1. WHAT IS THE REASON FOR DOWNSIZING, AND WHEN IS THE BEST TIME? There are many reasons that gear people towards downsizing. Older families move to smaller houses because the house is too big and maintenance is hectic, primarily due to rooms that are not being used. They may also move closer to their families and friends and simultaneously avoid feeling isolated. The reason for downsizing is when people are no longer happy about the current house’s lifestyle or no longer need the place.
3. WHERE WILL I PUT MY BELONGINGS? At this stage, the house owner must decide what to pick and leave behind. Especially when moving to a smaller area, carrying all things is difficult because one moves from a big house to a more minor one. In most cases, an individual picks out the most valuable items. After selecting the items to carry, one calls movers to transport the goods to the new apartment. A handyman is vital to help with small jobs such as fixing shelves. Materials left are sold out, or a room is rented to store the commodities. PHOTOS FROM 123RF
2. IS DOWNSIZING FINANCIALLY PRACTICAL? The question arises mainly when an individual
intends to downsize to save some money. When selling a property, some costs are associated, such as n property transfer tax, home warranty, and commission fees which a seller incurs typically. On the other hand, moving to a new home means paying taxes and insurance costs. Some costs are incurred when upgrading the house bought. An individual also checks on the Homeownership association cost in an area one wants to relocate. After carefully analyzing the cost incurred, an individual can make the right choices on whether downsizing is a better option.
114 | JULY 2022
