As the national real estate market continues to shift in favor of sellers, it's clearly a great time for empty-nesters to consider downsizing. Not only can the sale of a home generate major retirement revenue, but adding an estate sale to the mix can also contribute in a big way.
Oftentimes, I run into seniors or empty nesters who need to downsize but are weary to based on conversations they’ve had with auction or downsizing companies. While they might be led to believe that a household full of useful items wont yield as much profit as valuable antiques, I can assure you that the old adage still rings true; one man’s trash is another man’s treasure.
Here are some downsizing tips for figuring out what to sell and what to keep:
- Consider selling your extra things rather than dumping or donating. It’ll help get rid of unwanted items, and also help line your pockets.
- Don’t keep awkward space consuming items unless you actually need and use them.
- Don’t force adult children to take things they do not actually want and need. Too many families pass down items that the younger generation has no interest in.
- Don’t let strangers into your home. If using Craigslist to sell, find neutral ground. Better yet, use a professional third party to sell extra stuff.
- Don’t keep things for other people, and warn the freeloaders in your life that you’re downsizing. You may have garage now, but probably won't where you’re going, so they should plan accordingly.
- Plan what items to keep based on your move; the new space will help determine what to keep and also help justify getting rid of larger, unused items that have stuck around due to sentimental reasons.
- Think of the future and not of the past. Don’t hang on to things you used to use, rather imagine your new lifestyle and take only the essentials.
The process of downsizing can be lucrative but can also be very long and tedious work for those who try to do it themselves. To avoid hours of heavy lifting, trips to storage facilities, and days of manual labor, consider using a downsizing service like MaxSold. With MaxSold all you have to do is sit back, relax, and let the move mangers take the control of cataloging, photographing and selling your items.
