Downsizing refers to when a buyer purchases a property which is smaller in size or lower in value than their current home.
Reasons to downsize
 | This section needs expansion. You can help by adding to it. (October 2021) |
There are multiple reasons why a buyer may want to downsize, such as having less inhabitants in the home, a higher cost in bills or wanting a change of location.
An analysis of Finnish households found that downsizing was more appealing to lower income, single-person households. Downsizers valued the presence of services that would enable aging in place.
A survey of older Australian families that chose to downsize identified four primary factors contributing to the choice to downsize: a desire for a change in lifestyle, an inability to maintain the home, children moving out of the household, and retirement.
Difficulties with downsizing
| This section needs expansion. You can help by adding to it. (October 2021) |
Many people downsizing from a larger property to a smaller one will find their current possessions, appliances and furnishings will be unable to fit in the new smaller home. Some people will find it especially difficult to accept the need to dispose of possessions, and this will cause some considerable anxiety. Following a disposal methodology can be a useful approach if the task seems impossible: One approach is to determine what furniture, displayed items and commonly used items are suitable for and will fit in the new home: remaining belongings will need to be sorted into what is to be kept and what is to be disposed of.
Disposal strategies
| This section needs expansion. You can help by adding to it. (November 2021) |
After the basic fundamental items that will move to the new home have been determined, there will remain a set whose fate will need to be decided.
See also
References
Footnotes
- becker, joshua (30 July 2010). "12 Reasons Why You'll Be Happier in a Smaller Home". Becoming Minimalist. Retrieved 9 January 2024.
- ^ Gibler, Karen M.; Tyvimaa, Tanja (2 October 2015). "Middle-Aged and Elderly Finnish Households Considering Moving, Their Preferences, and Potential Downsizing Amidst Changing Life Course and Housing Career". Journal of Housing For the Elderly. 29 (4): 373–395. doi:10.1080/02763893.2015.1055029. ISSN 0276-3893.
- Judd, Bruce; Liu, Edgar; Easthope, Hazel; Davy, Laura; Bridge, Catherine (January 2014). Downsizing amongst older Australians (PDF). Australian Housing and Urban Research Institute. ISBN 978-1-922075-42-0. ISSN 1834-7223. Archived from the original (PDF) on 14 June 2023. Retrieved 14 June 2023.
- Ward 2010, pp. xiv–xv.
- Ward 2010, p. xv.
- Jameson 2015, pp. 12–13, 15.
- Jameson 2015, pp. 36–37.
Sources
- Reader's Digest (2021). "10 reasons to downsize your house". Retrieved 25 October 2021.
- Jameson, Marni (2015). Downsizing the Family Home : What to Save, What to Let Go (1 ed.). New York: Sterling. ISBN 9781454916338. OCLC 935530916. OL 27207070M.
- Post Office (2021). "A Guide to Downsizing your property". Retrieved 25 October 2021.
- Ward, Lauri (5 October 2010). Downsizing Your Home with Style : living well in a smaller space. New York: Harper Collins. ISBN 9780061170980. OCLC 191930906. OL 18003551M.
 | This real estate article is a stub. You can help Misplaced Pages by expanding it. |