The Quick, Down-To-Earth, Snappy Guide To Each.
Upsizing/Downsizing/Rightsizing
Real estate already has a plethora of terms associated with the industry so let’s clear the air on a few.
Upsizing refers to moving into a larger home. Why would you do it? Well first and foremost you need the space. Your old home has just gotten too cramped for you (or your family) and it’s time to find a place to house it (literally). Maybe you now have kids or one is on the way (in which case congratulations!). It could also be a good idea if you need specific elements of a home for events or hosting (i.e. a bigger kitchen or entertainment room). Be cautious though and understanding of your own needs as to whether this is the right move since this is the most expensive option.
The opposite of upsizing, downsizing is when you move from a larger space to a smaller one. The main reason for this could be because financially it’s too expensive now to live in the space you’re currently at. Maybe the heating costs or electrical bills are too high each month and you need to cut costs. Another reason could be that you don’t need/aren’t using all the space in your home and really only need a smaller home. Downsizing could also mean moving in with someone else and reducing the amount of things you own.
In any case it’s likely that you’ll be getting rid of some of the things you currently own to be able to fit everything into the new space you’ll be calling home. Struggling what to get rid of? Make a list of “must keeps”, items you can replace, and “can live withouts.” This way you can find out what you actually need for your new home.
Downsizing can be challenging to go from so much to “less” but your bank account will thank you for it in the long term.
However, what if you don’t know what transition is the best for you? That’s where “rightsizing” comes into play. SW Properties will help you find the best home (at the right size) for your needs. Be it, big, small, or somewhere in between, we can make sure the size you choose to go with is one that fits.
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