Raising children is difficult, ask any parent. Raising children while tending to an oversized, financially draining house is downright exhausting. If the extra square footage of your home is nothing more than a hassle and the massive mortgage payment is weighing you down, it may be time to downsize your home.
Why is Now a Good Time to Downsize with Kids?
Every homeowner’s situation is different. From the size of your family to the status of your finances, only you know when the time is right to downsize.
A few reasons you might consider downsizing are: if your mortgage is a serious financial burden, you are spending too much time at work to afford your home, you have unused room you can not afford to furnish, and/or your yard is too big or requires too much maintenance. One of these would be enough of a reason to consider downsizing.
In addition, if you are considering downsizing from your current home, determine if selling is a profitable decision based upon the length left in your mortgage and the amount of equity in your home.
Prepare to Downsize
If you have considered your financial options and downsizing is the best option, you will need to prepare yourself, your children, and your home. In general, moving is a big life change.
A new home, the work of selling and buying, and the process of settling into a new area can be very taxing on not just adults but also children. The moving process will be even more disruptive if your new home is smaller and some familiar items will not come along.
Before you list your home to sell, prepare your children for changes. Make your children part of the downsizing process so that they feel included and part of the moving decision. You can turn downsizing into a game by making lists of and selling toys online. Allow your kids to put the money made toward a better toy.
Once you have decluttered and found a home for the items you will not be taking with you, it’s time to begin the process of listing your home. This should begin with expert guidance from a top real estate agent who can walk you through the process of staging and marketing your home.
Choose Your Next Home
Where you are moving will largely dictate the home that you downsize into. Regardless of the area where you relocate, you should speak with a local real estate agent to help you begin the process of finding the right home for you and your family.
When you begin your search, prioritize the school district, the neighborhood, the neighbors, and the overall crime statistics of the area. When you have found the right location you can begin a home search within that area. Find a home that fits your financial needs as well as your family’s needs.
Remember, you are searching for a small home so stay away from oversized properties that come with extra expenses and a high price tag. Just as you involved your children in the downsizing process, you can also involve them in the purchasing process. Allow them to view the homes you are considering buying, show them the surrounding area, and find activities that they will be interested in around the area where you will be moving.
Downsizing may seem scary and difficult especially when children are involved. However, removing extra clutter and unnecessary square footage from your life can free you up to be more present in your children’s lives.
With clear communication, a bit of preparation, and help from a trusted top real estate agent, you can find a downsized home that may be smaller in size but will have larger positive impacts on you and your children.
