Are You Downsizing? – Here Are Four Tips - Frederick Real Estate Online (2024)

Are You Downsizing? – Here Are Four Tips - Frederick Real Estate Online (1)

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Four Tips to Downsizing For Frederick Sellers
Downsizing Tips to Help You Through Your Next Move
Estate Sales
Keep Your Stuff
Downsizing Resources in Frederick Maryland:

Four Tips to Downsizing For Frederick Sellers

With the economic changes, and with the aging of the Baby Boomer demographic, many are choosing to downsize their living situation.For the past several years,downsizingfrom large, high mortgage homes, to smaller more affordable homes has become an increasingly popular trend. Not only is the obvious savings associated with mortgage or rent a benefit of downsizing, but most will also see a savings in utility costs, such as heating oil. Lifestyle downsizing is a trend that will most likely continue as smaller but smarter homes are in demand.

Years of accumulated belongings that fill every nook and cranny of a 4 bedroom house with an attic and basem*nt are never going to fit into a home with less square footage. The grandfather clock passed down for generations, the Thanksgiving dining table with seating for 12, the upright piano your youngest child begged for but quit after just two months of lessons; these are all mementos with personal value and memories that can never be replaced. The reality is, they also simply won’t fit. So, what do you do with all your stuff? Here are four tips for downsizing.

Downsizing Tips to Help You Through Your Next Move

1) Sell it. If you can bear to part with the attic full of childhood memories, clothes that no longer fit (and let’s face it, probably won’t fit again), the treadmill that hasn’t been touched in years or the shelves of unread books, list the items on auction or classified sites. The money you earn can be put towards moving costs or storage solutions for a smaller house.

If you have time, but you don’t have a lot of large or valuable items, yard sales, Craigslist, and eBay are great to sell your stuff. You will need to start several months in advance of your move to make sure you have time for the sales process.

If you choose to have a yard sale or garage sale, be sure to add your sale to Yardsales.net, an online listing site. And don’t forget a classified add in the Frederick News Post, which will also be online, where many savvy shoppers will find it.

Consignment shops are also a great alternative to sell your unwanted items.

Curiosity Consignments, 9870 Main St. Damascus, 20872, 240-207-3783
Thrift Angel, 919 N. East St. Unit E, Frederick, 21701, 240-629-2171
Revival Consignment Exchange, 21 S. Carroll St, Frederick, 301-662-8899
Select Seconds Hospital Thrift Shop, 8 E. Patrick St. Frederick, 301-662-8280
Heritage Interiors, LLC, 39 E. Patrick St, Frederick, 301-668-0299
Venus on the Half Shell, 101 E. Patrick St, Frederick, 301-662-6213

Estate Sales

You can hire professional companies that make it their business to help people get rid of their stuff. Estate sales are ideal if you have valuable items because these companies have the marketing know-how to get the word out and can get more buyers than the average homeowner ever could. (I have some resources in Frederick at the bottom of this article:)

2) Donate it. What you may no longer need, it’s almost guaranteed that someone else does. Plus, the donations can be used as a tax write off. There are several non-profits that will come and pick up your items. Several local charities specialize in supporting the needy locally, whether it entails selling the donations and using the funds, or getting the items directly to the people in need. (See the list at the bottom of the article for ideas)

Freecycle is an online membership site where you cangive away your stuff and get free stuff. There are over 23,000 members of the Frederick Freecycle group. (I’m a member, and I’ve given away lots of stuff…I LOVE Freecycle.)

Keep Your Stuff

3) Store it. For some, it’s just not going to happen. The idea of letting go of everything is just too much to bear. Some might want to store items for posterity. Your kids might not want it now, but someday they might.

Downsizing Resources in Frederick Maryland:

Estate Sales and Auctions:

Other People’s Stuff with Estate Maxis an Estate Planning, Personal Coaching, Auction House and all around thorough resource for downsizing.Maximized Returns, Minimized Stress. Owners Laurie Zook and Steve Berryman, 844-371-6291. We have recommended OPF to clients and they have been happy with their service. Find OPSon Facebook.
Trout Auctioneers, 9801 Hansonville Road, Frederick, 301-898-9899
Check out Angie’s List for Auction Services with ratings.
Downsizing four tips: Professional Organizers

Donations:

The Frederick Rescue Mission – 419 West South Street, Frederick, MD, 301-695-6633
Goodwill Industries – 5831 Buckeystown Pike
Salvation Army Thrift Store, 902 N. East Street, Frederick.
Purple Heart – pickup: 888-944-3767
Habitat for Humanity Restore – 917 N. East Street, Frederick, 301-662-2988
Donation Town is a donation pickup scheduling site for several charities, including AMVETS, Vietnam Veterans, Humane Society, and Arc, among others.
Seton Center Thrift Shop – 301-447-6102, ext. 3, call for hours.

Are you thinking about selling your home in Central Maryland? Or just curious about your home’s value?

Find out what your home is worth.

Chris & Karen Highland
eXp Realty Broker – 888-860-7369, ext. 113
email us:
Text Us: 301-401-5119

FAQs

What age is best to downsize? ›

The responses find people believe 66 is the ideal age to downsize as they reassess their lives and plan for retirement. If you're planning to sell your home and purchase a smaller property in the future, there are positive reasons to do so, including these three.

What to do first when downsizing? ›

The process often starts by decluttering your home and figuring out what belongings fill the space you have. In some cases, your current home may be downsized simply by clearing the items that you no longer use or need. The ultimate goal of downsizing is typically to get used to living with less square footage.

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Is downsizing home worth it? ›

There's no question that downsizing can have many financial advantages. A smaller house can mean less upkeep, lower monthly expenses—and maybe even potential cash from a sale. But before making a decision, it's important to assess how taxes could play a part.

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How to decide what to keep when downsizing? ›

Sort Through Items Room-by-Room and Minimize Duplicates

You should keep items that are useful in your daily life. Once you've filled your “Keep” box in each room, you can pack it up and label it to make moving and unpacking easier. Get rid of items that you no longer have a use for.

What is the 25 rule for housing? ›

Lenders usually require the PITI (principle, interest, taxes, and insurance), or your housing expenses, to be less than or equal to 25% to 28% of monthly gross income. Lenders call this the “front-end” ratio.

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Do most seniors downsize? ›

Not all retirees move into a smaller home. A survey by Age Wave and Merrill Lynch found that about one-third of retirees opted to “upsize” to a larger home. But a smaller house or condo typically requires less maintenance and may be more accessible than a two-story suburban house.

Why is it so hard to downsize? ›

Downsizing and moving is often accompanied by the anxiety of the unknown. Anxiety when downsizing often comes from the prospect of discarding possessions and deciding which possessions to take with you. When you've spent a great deal of time in one home, a lot of stuff accumulates.

Read On ›

Is there a downside to downsizing? ›

CON: You'll have less storage space.

If you downsize from a 3,000-square-foot home, for example, to a 1,500-square-foot one, you need to reduce furniture and other possessions to account for the loss of nearly half your space.

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What are the disadvantages of downsizing? ›

Disadvantages to downsizing

Downsizing will mean you have less room for belongings and you may feel like you're tripping over people's toes. You can comprise when downsizing, and choose a home with less bedrooms and a smaller kitchen, but with bigger social areas such as the living room and dining room.

How can I downsize my home fast? ›

A simple idea for downsizing your home is to eliminate duplicate items. Get rid of excess dishes, wall art, baskets and bins, and other unnecessary multiples to focus on the items that you really need. Because you'll have less space, choose your favorites and donate, sell, or trash the rest.

How to get rid of stuff when moving? ›

If you have some things to get rid of that are still in good shape, consider selling them to make back some of the money you'll be spending on your move. Try hosting a garage sale or listing the items online through ecommerce shops like Craigslist, eBay, Offer Up, Facebook Marketplace or Poshmark.

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What percentage of seniors downsize? ›

Some are still downsizing

While almost half of retirees surveyed in the Merrill Lynch report were staying put or upsizing (49%), the other half did make the move to a smaller place (51%). Those who downsized cited “freedom from the financial and maintenance burdens of a larger home” as the top reasons to move.

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What age should you be moved out? ›

Many people say the best age to move out is 25 or 26 since you have stable employment and are ready for the responsible, but don't let those numbers throw you. Many people move out at age as young as 18, whether they are entering the workforce early or living closer to college.

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What age should you move on your own? ›

While there are a lot of factors involved, the average age when people move out of their parent's home is somewhere between 24 and 27.

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Is it better to downsize in retirement? ›

You could save money. Even if you've paid off your mortgage, you're likely still paying for home costs like insurance, maintenance expenses and property taxes. You could save a substantial amount by moving into a smaller home, whether that's a house, condo or apartment.

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Are You Downsizing? – Here Are Four Tips - Frederick Real Estate Online (2024)

Downsizing Tips to Help You Through Your Next Move

Estate Sales

Keep Your Stuff

Downsizing Resources in Frederick Maryland:

Related

FAQs

What age is best to downsize? ›

How can I downsize my home fast? ›