Selling
02/13/23 | Liz Lyster
Most people think of real estate as an investment; after all, homes are one of the few assets that appreciate over time. And unlike fine art or wine, you can actually live in the thing while it increases in value. Try that with a Picasso and you’ll be sorely disappointed (and very cramped). And because you think of your home as an investment—and because changing circumstances often warrant more space—it is common to “trade up” over time. But what about when your circumstances dictate that you need less space? Scroll down to learn more.
When is smaller better?
Simply put, smaller is better when you have space you don’t use. Perhaps your children have grown and moved away. Maybe you don’t want to clean so many bathrooms. Many people look to downsize after a spouse has died, and the home you shared with a loved one no longer brings you the same kind of joy. Moving into a smaller home also frees up that rambling single-family for a new set of inhabitants who may be at the beginning of their journey.
But all those rooms are filled with stuff!
Everyone knows that if there’s an empty space, most people will fill it. Is your guest bedroom crammed with books from college? Is your dining room home to four separate sets of dishes? Are your basement, attic, and garage replete with boxes? Consider decluttering and divesting yourself of belongings you no longer need. This can be a huge undertaking with a lot of emotions tied into it, but it is entirely possible to do. We’ve worked with plenty of clients over the years who have decided to declutter as a first step, and the benefits are tremendous:
What steps do people take to downsize?
First of all, deciding to downsize is a big step; sometimes people put off this decision until they are disabled or when money has gotten tight, and we understand that this is normal. However, moving before you are forced to so gives you more agency and lowers stress for you and family members. Think: move when you want to, not when you have to. The general steps needed to downsize are:
If you’re not ready to move to a smaller home, we still suggest decluttering your existing home. You’ll be living in a whole new environment! In addition, if you decide to downsize at a later date, you have already completed one of the toughest steps.
What tips and tricks are there for decluttering?
What are the advantages of downsizing?
There are plenty of reasons to move into a smaller home, including financial, physical health, quality of life, and mental health:
Are you ready to think about decluttering your home? Are you thinking about downsizing in the near future? Contact us. We’re here to help.
With April 15 fast approaching, taxpayers are gathering receipts and official forms and filling out tax returns (or else there’s some serious procrastination going on). We want to remind homeowners that a myriad of tax breaks exist if you own a home–so don’t forget to take your rightful deductions!
How much could you save in property taxes with the residential exemption?
Happy International Women’s Day! Today, we celebrate the contributions of women all over the world. But because we’re Liz & Ellie Local, we are highlighting the incredible life of Cambridge’s first Black school principal, Maria Baldwin. Our very own Liz Lyster sits on the Cambridge Historical Commission, and she shared with us that Maria Baldwin’s home on 194-196 Prospect Street was approved as Cambridge’s 43rd designated landmark during their recent meeting. This means that the publicly-visible exterior of the home is protected from alterations, and the home will be preserved as an important part of Cambridge’s history. It also means that people need to know what Maria Baldwin accomplished that drove this landmark designation. Her story does not disappoint.
With their complementary communication styles, responsiveness, competence, and ability to truly listen, Ellie and Liz enable their clients to feel at ease throughout any real estate transaction. They would welcome the opportunity to be your next real estate advisors.
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