Making a Downsizing Plan

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Whether you're retired and looking to move into a smaller house or you're just trying to make a change in your life, downsizing can provide a number of financial and personal benefits. However, it's easy for difficulties to arise if you don't have a proper plan for moving. It's important to understand the common mistakes people make when downsizing so that you can ensure the process goes smoothly and you have a successful outcome.

Having No Plan for Your Move

When moving day arrives, you want to have a concrete plan for a number of different things. Here are some common mistakes people make when downsizing.

Trying to Move Alone

Planning out the logistics of your move includes making sure you have enough hands to help with the process. If you enlist the help of others, it becomes easier to pack away your belongings and load them up on moving day. If you must move alone, start planning months in advance to ensure everything is covered, from packing up to renting a moving truck. Make downsizing easier by having a helping hand during the process.

Not Decluttering Properly

Deciding which items to keep and which to get rid of or donate can be a tough decision, and in many cases, you can end up with too much on your hands. Consider selling items you no longer need in a yard sale and donating what you can't sell so that you don't end up with too many items for your new home.

Failing to Plan for Your Pet

Make sure you don't overlook any pets when planning your move — they may not take the idea of moving as well as you. Some dogs may become nervous at the idea of going outside due to bad weather or limited mobility on moving day, so consider buying a dog litter box to make it easier on your pet. Choose a litter box that's the right size for your pup, and pick one that's easy to clean and within your budget.

To help your furry friend cope with the move, provide them with a well-reviewed dog sofa. You can find vet reviews online that should point you in the direction of the best dog sofa for your pup.

Not Considering Your Financial Situation

There are many financial benefits to downsizing your home, from reduced mortgages to increased cash flow. But consider this aspect of your move carefully, as improper planning can lead to higher expenditures than you had anticipated.

Having No Budget for Your Move

One of the biggest mistakes you can make when downsizing is to fail to make a budget. There are a number of assets and liabilities you must carefully plan for, such as the value and sale price of your old home and the mortgage costs for the new home, as well as lesser costs, such as hiring movers. Use a moving calculator to figure out how much the process is likely to cost so that you don't run into financial difficulties before, during or following the move.

As you’re determining your budget for your new home, be sure to look at current VA home loan rates. These specialized loans for veterans and their families can help you get more from your budget than conventional loans.

Finding Your New Home

To avoid mistakes when downsizing, it's crucial to properly plan the whole moving process, from packing and decluttering to budgeting your finances.

Another part of successfully planning for downsizing includes finding the perfect home. If you're seeking a home in the Dallas area, the Mission to Close Real Estate team can aid you in finding the perfect house for your budget.

by Stephanie Haywood of mylifeboost.com