Downsizing the family home to fit a changing lifestyle may feel like a big step, but it can be incredibly rewarding. A smaller home means lower costs, less maintenance, and a chance to create a more flexible lifestyle. It’s also a great way to release equity in your existing home for investment purposes or to finance other ventures. Whether you’re downsizing to move into a smaller home or simply clearing out the clutter for a simpler lifestyle, here are three tips to help you along the way and to make the process a little easier.

Start with a plan

Having a clear plan will help guide your decisions and make the downsizing process less overwhelming. Think about how you’ll spend time in your new home:

• Will you be entertaining friends and family regularly? Keep a few extra dining chairs or special dinnerware but let go of any large or rarely used items.
• Do you plan to work from home or indulge in a creative hobby? Keep essential items like a small desk or craft supplies but let go of bulky office furniture or equipment you don’t use regularly.
• Will be you growing a smaller garden or just some pots and planters? Keep only the basic gardening tools but get rid of anything that might not fit in a smaller space.
• Do you plan to travel more or be away from home regularly? Minimal furniture and décor might suit your lifestyle best, so keep only the essentials and pieces you truly love.

Sort and declutter room by room

Decluttering one room at a time helps make the downsizing process more manageable and is a great way to get a clearer sense of what you realistically have space for in your new home.

• Start with the areas that don’t get much use on a daily basis – like storage cupboards, spare rooms or the garage. Tackling these spaces first helps build momentum and keeps you motivated.
• Decide what to keep, donate or discard as you go. Sorting items into these groups before you start packing helps streamline the process and ensures you stay organised.
• Use a “one in, one out” approach. For every item you keep, decide on something similar you can let go of.
• Visualise your new home and try to picture where your things will fit to help you decide what to keep and what to let go of.
• Save sentimental items for last as these are usually the hardest to sort through so will probably take a bit longer. 

Focus on the “why”

Keep coming back to “why” you’re downsizing and the benefits you stand to gain, to help you stay motivated even when you’re feeling overwhelmed. People downsize for many reasons, including:

• Reduced costs: A smaller home usually means lower mortgage repayments, utility bills and maintenance costs, leaving you with more money for other things.
• Calm and peaceful space: Reducing how many things you own to create a more peaceful and calming living space can help relieve stress.
• More flexibility: With less house to clean and maintain, you’ll have more time for hobbies, travelling or simply relaxing.
• Changing needs: Downsizing can be a natural next step when children move out or a way to find a home that suits your changing mobility needs.
• Environmental impact: A smaller living space reduces your environmental footprint and contributes to a more sustainable lifestyle.

The next step

If you’re preparing to embark on the next chapter in your home ownership journey, whether that’s with a smaller home to better fit your needs, or a larger home to accommodate a growing family, work with a Mortgage Express adviser and get personalised mortgage advice tailored to your unique situation.

At Mortgage Express, our mortgage advisers are experienced at helping homeowners make informed decisions about their finances, assisting with refinancing or refixing home loans, and guidance around releasing equity or consolidating debt. Contact us today to connect with an adviser near you.