Many over-45s in Etobicoke and Toronto are looking to save money, cut back on their maintenance, and downsize their home. Withdrawing equity from an existing home, you then earn money that you can reinvest in a new home. A lot of homeowners are taking this approach in their later years.

Whether you’re doing it because living where you are isn’t financially feasible anymore or because you want a different situation for your future, downsizing is a smart move for most.

How to downsize your home effectively, however, involves navigating around potential issues and hazards.

Give Yourself Time To Allocate Your Belongings

As you declutter and decide what to keep or throw away, ensure you provide yourself enough time to allocate your belongings. Be proactive and start downsizing long before you decide where you’re going to move to. Discuss with family or friends if there are specific things you would like to offer them before they’re given elsewhere.

In need of more downsizing advice? Consider these other posts from our blog.

Don’t Rush Your Downsizing Move In Toronto

There is no need to rush a move. Do it when you’re ready. If you can’t find the right home for you today, check back in a month or two. Adrian + Andrea can let you know when a new Etobicoke home for sale becomes available, giving you first look.

Find A Home To Buy In Etobicoke That Suits Your Lifestyle

Think about what you need from your home. The rooms you need. The services you may need, such as comparing the amenities of a condo to what you would receive with detached housing. Envision how you’re going to be living not just presently but years down the road and buy an Etobicoke that suits you.

Wait To Buy New Furniture Until You’ve Moved

As you’re getting rid of stuff to downsize, wait to buy new furniture or belongings until after you’ve moved. This way, you can take proper measurements and consider what is best for your new space as opposed to trying to fit in something that may not feel natural after it’s set in.

Analyze The Costs Of Downsizing

Downsizing, for many, is all about finances but always analyze the costs. Understand what it will cost to sell your home in Etobicoke as well as the costs of buying. Make sure it’s worth it and budget long beforehand so that you’re financially ready to do it when the right home becomes available.

 Searching for the right home for your next chapter? Check out these blogs too!

Take It Slow When Downsizing To A New Neighbourhood

If you’re not from South Etobicoke but are downsizing to a home here – and this applies to any Toronto neighbourhood – take it slow. Moving to another property will be an adjustment, no matter who you are, especially if you’ve spent years living somewhere else. Consider downsizing as like any other major life transition. Take a few weeks or more to get to know your new area, amenities and businesses nearby, the street grid, where the nearest parks are, etc. 

Downsizing your home is quite the undertaking but the rewards are real. A better life. More money in your pocket. Less you have to pay monthly.

Reach out to Adrian + Andrea today to search Etobicoke homes for sale for downsizing. There are dozens of properties available today in Etobicoke perfect for seniors and families looking to downsize, pay less, and live life on their terms. Reach out to us today! Call us at (416) 319-6893 or email info@adrianandrea.com.