Downsizing to the lifestyle, and home, you want today - Mainstreet Blog

Downsizing to the lifestyle, and home, you want today - Mainstreet Blog

Tricia Bouterse | Financial Advisor | Sarnia

Most homeowners come to a point in their life when they may want to downsize their home maybe because of their stage of life or becoming empty-nesters, wanting to retire in a new place, wanting less up-keep and space to maintain, wanting more financial freedom, and more.

It’s often a long and stressful process to prepare to downsize as you aren’t just downsizing your home, but all the items in it so they’ll fit in a smaller space. It might leave you wondering “how did we accumulate this much stuff in the first place?” Don’t fear, there is a light at the end of the tunnel and Mainstreet is here to help make your downsizing experience a positive one.

Create the life you want

The first step we recommend is stopping before your start. Stop, close your eyes, and imagine where you want to go in life and what your priorities are. Do you want more leisure time? Do you want to travel across the country in an RV? Do you want to spend time in your yard and tend to gardens or maybe some animals? Are you ready to make a subtle or drastic change? Take control of your downsizing journey and decide how you want your life to become. It is much easier to move from vision to reality when you know what you want to do and what will make you happy in your next chapter.

Let time be on your side

Be sure to give yourself enough time to plan and execute your downsizing project. This is not a weekend project. Taking time will alleviate stress and empower you in your choices.

As you start to simplify your life, pay attention to what you use on a regular basis and what you don’t. Do you really need to keep that mixer you never use? Are you going to use that treadmill for something other than hanging laundry? If you put items to the front of the closet or cupboards as you use them, the items you don’t use will fall to the back and be easier to identify when you downsize.

Also consider only keeping items that bring you joy. Make it a goal that in your new space you will have less, and what you do have will serve a necessary function (like a fridge to keep your food cold, or a washing machine to clean your clothes) and the rest, whether it is furniture, clothes, or accessories, will be items that spark joy and happiness for you and your family.

Plan your space. Will everything fit in your new home?

Plan out what you will need and if it will fit. If it doesn’t, there are lots of options such as: donating, selling or leaving items as an early legacy gift to your family and friends (bonus–you can enjoy watching them appreciate it!).

Whatever your reason for downsizing and your lifestyle change, have patience and persistence and you will create the new life you want. You are not alone, we are here to help you with your next chapter with financial tools, advice and guidance. Book a meeting with an experienced Mainstreet Financial Advisor today.

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