Terry Paranych Real Estate Group Blog - downsizing

Downsizing Your Home? 8 Reasons to Choose a REALTOR®

While downsizing may be the right choice, it’s not always an easy one. After all, you’ve spent a good many years in your current home, and it can be difficult to leave so many fond memories (and possibly possessions) behind. If that weren’t enough, you must also begin the search for a new home better suited to your lifestyle while attempting to sell your existing property at the same time.

The good news is you don’t have to do it all on your own.

Here are eight reasons to work with a REALTOR® when downsizing your home:

1. They’ll Be Your Rock

A good REALTOR® understands a home is much more than four walls and a roof – and parting ways with something that has played such a significant role in your life to date can be nothing short of…

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Downsizing Your Home: 7 Essential Features You Need

It’s no secret that as we get older, our needs change. The large home you needed in your 30’s and 40’s may no longer suit your current lifestyle. As a result, you may find yourself seeking a property in which its’ size and features will better cater to your needs now and in the future.

If you’ve been thinking of downsizing to a smaller home that will allow you to age comfortably in place, here are a few features to look for:

1. Main Floor Living

Tackling several flights of stairs on the daily may be manageable now, but what about the future? One of the first (and best) perks of downsizing is the opportunity to purchase a property that provides single-level living. Having your kitchen, bedrooms, bathrooms, laundry room, and entertainment space…

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The Benefits of Downsizing to a Smaller Home

When it comes to homeownership, bigger isn’t always better. Especially when you find yourself spending more time physically (and financially) maintaining your home than enjoying it. If you’ve been thinking about downsizing to a smaller home better suited to your needs, here are six benefits to look forward to.

1. Significant Savings 

Larger homes don’t just come with larger mortgage payments. T
hey also cost more to heat, cool and maintain. One of the biggest benefits of making the move to a smaller property is savings as a result reduced of utility bills, property taxes and insurance premiums. In short, you’ll have more to put towards your retirement fund, existing debt and mortgage loan (with the added advantage of becoming mortgage-free…

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9 Tips For Downsizing to a Smaller Home

While downsizing offers countless benefits (the chance to save money and pursue your retirement dreams, for example), making the move to a smaller home can be altogether overwhelming. But it doesn’t have to be! Here are nine helpful tips to make your downsizing process easier:

1. Have a Plan

Reduce downsizing stress by planning ahead. Start by making a list of manageable goals with a commitment to stick to them – even if it’s as simple as tackling one drawer a day, over time, every little bit helps.

2. Start With the Obvious

Begin by clearing out the rooms you won’t have in your new home. Recreation or family rooms, additional bedrooms and bathrooms and home offices are all good places to start.

3. Practice the Rule of Three

…

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Three Must-Have Styles When Downsizing to Your Next Home

In addition to less maintenance, lower utility bills and affordable mortgage payments, those considering downsizing also have a wealth of unique Edmonton home styles to choose from. In this article, we’ll cover the top-recommended property types for downsizers, their benefits and why they might be the right choice for you.

Apartment-Style Condos 

If your retirement dreams include escaping Edmonton’s harsh winters or travelling the world, an apartment-style condo may be the way to go. Ideal for those seeking a “lock it and leave it” lifestyle, this type of home is about as low maintenance as you can get (not to mention, very affordable). But don’t let the word “apartment” fool you, these units come in a variety of sizes and shapes, offering you…

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How Do I Know When It’s Time to Downsize?

While the answer will vary according to your unique situation, there are a few key signs it may be time to downsize. These include: 

• An empty nest – Now that the children have flown the coop, you’re finding yourself with a lot of unused rooms and spaces
• You’re retired (or close to retirement) – You want to boost your retirement fund 
• You’re tired of maintenance – Your current home is becoming a burden in terms of repairs, cleaning and general upkeep 
• You want to age in place – You’re worried your current home may not meet your needs as you grow older  

What Are the Benefits? 

While we understand it’s hard to give up your older family home, downsizing comes with great benefits! Here are just a few of the many perks you can look…

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Four Signs it’s Time to Downsize

Is your current Edmonton home starting to feel like a burden? Do you find yourself wasting a lot of time, money and effort maintaining unused rooms and yard space?  It may be time to consider downsizing. Here are the top 4 signs: 

1. You Have an Empty Nest

We know the decision to give up your family home can be a tough one. However, additional, unused spaces such as bedrooms, secondary living/ family rooms, finished basements etc. aren’t only a pain to clean, they drive up your monthly utility bills and maintenance costs. Keep in mind, the decision to downsize also affords you the opportunity to move closer to loved ones and simplify your life at the same. 

2. You’re Retired (or about to retire)

Downsizing is a great way to pad your…

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