5 Reasons Downsizing is Easier Than You Think

02/09/23

Downsizing is a big decision, especially if you’re moving on from a home you’ve spent many years in. Like any home sale, it’s an often emotional process, but that doesn’t mean it doesn’t also have a ton of advantages.

If you’re thinking about downsizing your home but feel nervous or hesitant about the process, you’re not alone. As long-serving real estate agents, we’ve worked with our fair share of clients who aren’t sure where to start with downsizing. Thankfully, we have the experience, know-how, and resources, to make the process fun and straightforward.

Here are five reasons why downsizing in West Toronto is easier than you think.

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Table of Contents

1. You Can Work With a Full-Service Agent
2. There Are Countless Options For Your Next Home
3. Decluttering is Already Part of The Process
4. You’ll Have Greater Buying Power
5. You Save Time (and Money) Long-Term

1. You Can Work With a Full-Service Agent

Downsizing is a big life change with a lot of moving parts. However, you don’t need to go at it alone. Like any real estate goal, the best place to start is with an experienced agent. Even better, look for an agent who specializes in supporting downsizers and can provide a full-service, end-to-end experience.

At Smith Proulx, we’ve got downsizing down to a science. We believe in providing compassionate, full-service support from beginning to end. Whether you are looking to begin your downsizing journey today or are thinking about the future, our team can help you achieve a smooth process with great results.

2. There Are Countless Options For Your Next Home

One of the best parts of downsizing in West Toronto is the wide range of options you will have for your next home. In addition to the area’s amazing neighbourhoods, great walkability, and strong transit access, there is also an abundance of housing options for buyers seeking a small yet comfortable living space.

You’ll find everything from sophisticated townhomes to existing condo buildings with generously-sized units and modern, amenity-rich pre-construction developments. Or, if you’re thinking about renting in the next chapter of your life, many historic homes in West Toronto have been converted to two and three-unit apartments.

Looking for helpful resources that may support your downsize? Check out these blog posts.

3. Decluttering is Already Part of The Process

One factor of downsizing that homeowners can feel nervous about is decluttering. At a glance, the process of sorting through belongings and deciding what to keep, what to donate, sell or throw away, and what to move into storage can seem overwhelming. However, it’s typically an easier process than most people realize – and it can also feel cathartic!

One of the nice parts of decluttering is that you can start as early as you like, even before you’ve listed your home. Each month, take some time to go through your home and make note of items that you know won’t be coming with you to your next one. As you begin the process of reducing your belongings, you’re actually making your move easier as you’ll have less to bring with you on moving day.

4. You’ll Have Greater Buying Power

Downsizing is typically a two-step process. First, selling your existing home, then finding and buying your next space. One of the unique advantages that downsizers have during the buying process is greater buying power.

In most cases, your existing home will carry a higher market value than your next home simply because it’s larger. This price gap provides you with a stronger buying budget after you sell. As a result, you’ll have more flexibility in buying a smaller space than you would if you bought a home with similar square footage to yours. This can make the process of finding the perfect space for your next chapter much easier.

Successfully selling your home is the foundation for a favourable downsizing process. For more insights about optimizing the sale of your home, explore these blog posts.

5. You Save Time (and Money) Long-Term

Nine times out of ten, strategically downsizing your home is about improving your lifestyle. With less space to maintain and clean, downsizing allows you to free up more time in your schedule for the things that you enjoy. Additionally, smaller homes typically have less carrying costs. Whether it’s home insurance, repairs, upgrades, utilities or other home expenses, downsizing can help you cut down on costs organically.

Looking for a seamless downsizing process that can help you enter the next chapter of your life with ease? We’re here to help. Send us an email or call 416-769-6050 to get started.