Once the kids have left home, you might find yourself rattling around in your house and only using a couple of the rooms you have available. A lot of people decide to downsize at this point to free up some capital and to save money on their monthly bills and maintenance costs. It can be an emotional experience to leave the home you have raised your kids in though, as sensible as this option might be for you. Here are some tips for downsizing after the kids have left home.
Decide What You Want in Your New Home
Put together a wish list of what you want in your new home. For example, it may be that you don’t really use the garage, but you can’t live without a large kitchen. Be prepared to compromise and change your wants and needs if you find the perfect house, but make sure you will be happy in your new living quarters.
Work Out Your Finances
You may be downsizing, but you will still need to pay moving costs, estate agents’ fees and solicitors’ fees. Factor this into your decision to move and make sure that your finances will allow for these payments to be met.
One of the top reasons people want to downsize once the kids leave home is to save money on bills. Consider all your bills and use a UK comparison website to see if you could be saving on your home insurance policy. Northern Ireland residents can find home insurance NI here to ensure they’re fully covered, as not all UK providers will include Northern Ireland. You can also use sites like this to compare utility bills and mortgages so you can work out the likely figures for all your new expenses and plan your budget accordingly.
Be Ruthless with Your Belongings
Have a good clear-out before you move and remember that you are downsizing so you will not have as much space in your new home. You may be attached to items you have had for a long time, but if they will serve no purpose in your new surroundings, then get rid of them. Use this opportunity to sell your unwanted items and clear your home out. You will be glad you did when it comes to unpacking in your new space.
Make Your New Home Your Own
Don’t be afraid to put your own stamp on your new home. It may feel strange to be somewhere new, but painting the walls your favourite colour or changing the carpets will make you feel more at home and help you to settle in.
Get to know your neighbours and take advantage of all that your new neighbourhood have to offer. Once you have some friendly faces around you and you know where the best takeaway and corner shop is, you will feel much more at home.
Downsizing after the kids have left home may feel like a big step, and an emotional one at that. Follow these simple tips to make the most of your decision to move and you will be very glad you did.
