Downsizing Your Lifestyle and Maximizing The Estate Value
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Finding happiness with less clutter is easy if you downsize. Downsizing involves both real property and personal property. With the help of professionals, rightsizing or downsizing your estate can be achieved while still realizing the most value.
Here are a few reasons why we downsize:
- Reaching retirement age and moving to a smaller home
- Children are out of the home and it’s too much upkeep
- A new promotion leads us to move across country into a smaller home
- A divorce requiring the distribution of assets
- Aging parents finding it difficult to function around the abundance of items
- Choosing to enjoy life without the added burden of stuff
Whether is necessary or chosen. Here are some first steps you can take to achieve your goals.
- Decide what’s most important to you or your loved one
- Stop buying unnecessary items to minimize the process
- Take the time to inventory everything you no longer need
- Decide whether you’ll stay in the same home or move to a smaller home with the help of a Realtor.
- Personally outline why this process is important to you and what motivated you to downsize in the first place. This will be a constant reminder and motivator as you move forward.
No one said it will be easy, but relying on estate professionals can ease and help you transition anxiety-free.
Real Property Downsizing
A Realtor can assist you in locating a new home, they will guide you in not only finding a new location, but by also selling the home you live in now. Realtors work closely with other estate industry professionals such as estate sale companies to liquidate personal assets.
They also coordinate the contingencies and entire real estate transaction process so you can continue making your future plans.
Personal Property Downsizing
Throughout our lifetime, we collect an abundance of items, while we view them as collectibles; they generally sit there and collect dust. Unfortunately, those same items that brought us joy become a burden when we decide to move, retire or comfortably maneuver around our home.
Downsizing your lifestyle of clutter is freeing, emotionally and physically. You can enjoy your home without having to maintain the abundance of Items. Move to a new location and begin an exciting new life, or simply travel without worrying about stuff.
The loss of value is one of the biggest reasons consumers avoid downsizing. An item you purchased for a large sum of money is worth a few bucks in a yard sale, “I’d rather keep it” is what most will say.
Downsizing your life doesn’t have to mean losing value if approached correctly:
There are downsizing sale professionals “Estate Sale Companies” that will help you inventory, properly price and bring buyers to purchase your items at the highest value possible. Yes, they do earn their income from selling your items, a big motivator to sell your items at the highest value, the same items that you would never be able to sell for the same value by holding a yard sale or estate sale yourself.
At times, the opposite occurs, what you may consider trash, might be someone else’s treasure. Most liquidators will tell you to never throw anything out before they’ve evaluated it.
You might have purchased an item for $10 in the early 1950’s, you view it as trash, but that same item might be a collectible today and worth 10 times that amount. Hiring an estate sale professional will help you determine the value of each item. They rely on personal property appraisers when it’s deemed necessary, they will advise you on the best liquidation solution for your specific situation and where you can achieve the most value. It’s in their best interest to get you the most value for your items.
- Estate Auctions
- Liquidation where you get a cash value for the entire contents of the home
- Consignment to liquidate items
Having a personal space to enjoy is worth the time and effort, there’s no need to fear loss of value. Empower yourself with information, and industry professionals that can help you achieve your goals when you’ve made the decision to begin downsizing your lifestyle.