4 MIN READAre you thinking of downsizing your home? Here are 5 things you should know!

As we grow older, certain lifestyles become part of the past – including downsizing your home. 

Downsizing to a smaller home is often associated with a smaller space and fewer belongings. Not an ideal choice for everyone, the “less is more” philosophy can mean an improved home life for many.

In fact, downsizing can be an opportunity to secure key upgrades and benefits in a brand-new home and community.

The Department of Statistics Malaysia has stated the percentage of population aged 65 years and over increased from 6.7% to 7.0% in 2020 – the spaces they occupy trend smaller in the years following retirement.

While they are 5 times more likely to sell their home and rent a smaller space, don’t see it as cutting down on square footage and fewer belongings – view it as ready to usher in new beginnings.


1. Find a home that checks all your boxes

When you have decided to downsize your home,  you might get stumped on the question on “Where shall I go?”

Start by looking for a place with a reasonable cost of living, lots of recreational activities, community engagement, and access to healthcare as part of your next move.

By downsizing to a smaller space, you have less to worry financially and open up your location opportunities – have you always dreamed of living in the heart of KL, near the oceans of Terengganu or a more suburban area like Shah Alam?

Luckily, you have more realistic options when you are the owner of a smaller home.

 

2. Design your home for different stages of life

Once you have found the perfect home, it will require various maintenance jobs as time goes by – but picking a low maintenance home also involves making sure the home is fit for your needs at different life stages.

You don’t want to move into a new place only to find out shortly after it will no longer be suitable.

Look for designs that generally have bigger bathrooms, wider hallways, fewer or no steps and are generally more liveable and spacious.


Read more;

SoHo, SoFo, and SoVo: What are the differences between these 3 properties?

Leasehold VS Freehold | Which is the better offer of a lifetime?


3. Do not waste any space – be creative!

“When you’re making an independent film, and you don’t have time and money – makeup with creativity and diligence.”

While this quote from the actor who voices Scooby-Doo may apply to those in the film industry, it does not mean we cannot benefit from the context.

Without sacrificing space and hiring a good interior designer, your new home can feel spacious, homely and liveable. Utilize each area to where everything is connected to avoid clutter and a new backdrop for Instagram! 

 

4. Throw away all unnecessary stuff

There is no need for possession through downsizing as the whole purpose is to have a low maintenance lifestyle. Thus less stuff equals less stress. 

Start by separating items into three categories – throw, donate to charity, or give family and friends away. If you feel sentimental,  separate the items that you cherish and feel strongly about from those you don’t really need.

It’s an opportunity to clear everything and save yourself money.

Sames goes with clothing — a manageable and satisfying task. Lastly, room by room by flagging the things you don’t like, don’t want or have never liked. 

Remind yourself that your goal is not to get rid of everything you hold dear but simplify your life. If you can’t decide on an item, remember that it can go into storage until you’re ready.

 

5. Get rid of old paperwork

We always keep our paperwork for financial purposes such as taxes but did you notice old bank statements and warranties for appliances from 10 years ago? 

You’ll need to purge all that paperwork when you downsize, and you might want to get started now. Don’t keep bank statements when you can access online.

Be ruthlessly selective about which papers you keep.

 

Celebrate this new chapter in life

Remember, moving isn’t easy; it presents a significant change that’s both exhausting physically and emotionally. You are leaving a family home to enjoy a low maintenance lifestyle – that’s even a bigger change that touches an even deeper emotional trigger. Once you’ve managed to follow these steps, celebrate this new stage in your life. 


Are you seeking professional help in ensuring you find the perfect home to start a new lifestyle? Through IQI’s esteemed team, they will be able to help you with any matters related to property.

Leave your details below, and they will contact you soon.

Related posts

Juwai IQI Newsletter – October 2021 – Chinese Version

Aliaa

CIMB to provide property financing to Juwai IQI customers in Malaysia

Hafiz Zainuddin

JUWAI IQI LAUNCHES IQI GREECE — The Real Estate Group Now in 21 Countries

Hafiz Zainuddin