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.
Recently Massachusetts has taken action to protect tenants from hidden fees as well as to clarify how fees are paid to real estate agents assisting both tenants and landlords. Together, these reforms aim to make the rental process more transparent and fair. Local communities are also taking a closer look at how short-term rentals (STRs) work—and don’t—when many are not properly registered.
As housing affordability continues to challenge our local communities, we find it encouraging to see legislative steps that prioritize affordability, flexibility, and access, like Massachusetts’s Affordable Homes Act, signed into law last year by Governor Maura Healey. One of the changes we find most intriguing is the expanded ability to build Accessory Dwelling Units, or ADUs. These are small residential living spaces located on the same lot as another home, either within an existing primary residence, like converting a basement into an apartment, attached to a primary residence as a new construction addition, or completely detached, like a cottage or converted detached garage in a backyard.”
Here at Liz & Ellie Local, we are always looking for ways to make life a little greener. And if you’ve been in the Boston area for any length of time, you’ll know that there are areas where paving your yard was all the rage…and the remnants of that craze are still all over town. But things are changing. In Somerville, in particular, residents are tearing up their pavement in favor of something green.
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.
Let's Connect