How to Downsize Your Home When Buying a Smaller Home

Downsizing and purchasing a smaller home can help save you money in the long run. Some people downsize because the kids have all moved out and they no longer need a huge home. Other people are relocating for a new job into a bigger city, and housing prices force them into a smaller house.
No matter your reasons for needing to downsize, here are some tips from our mortgage company to make the transition easier:

  1. Get rid of anything you have not used in the past year or two. If things have been sitting and collecting dust, they are just taking up space.
  2. Go through everything as you prepare for your move. If you have boxes that are packed in closets you haven’t opened in years, you probably can live without these things.
  3. Get rid of anything you are hanging on to for goals you will never meet—for instance, the weight bench and weights you bought to get six-pack abs, but which now sit buried under piles of clothes.
  4. Sell anything you don’t want. Convert your unwanted items into cash with a garage/yard sale and donate anything that is left over.
  5. Verify that what you want to keep will fit into the smaller home. Measure your furniture and other items and compare these to the dimensions of the new home.

For assistance in finding the best home financing loans to buy your smaller home, please feel free to contact Elite Financial at (800) 908-LEND or (805) 494-9930 today!