Are you considering downsizing from your Nanaimo home into a condo? Perhaps you’d like to free up some of the equity in your home to invest with or do a little travelling. Downsizing is a great option, but not for everyone.

So, what is downsizing? Simply put, downsizing is selling your larger house and buying a smaller one like a condo. Learn more about the processes and steps when you decide to downsize.

1.Take a detailed inventory of what you own.

Having a detailed inventory can be very useful when moving. This list gives you an estimation of the costs for moving and still serves as a packing list. The inventory helps to identify what is necessary and what is no longer needed, including the condition and value of each item.

2.Measure twice, move once.

Knowing your new house's precise dimensions and floor plan will help you decide what makes sense to move with and what doesn't. Record the exact measurements of the new space and measure your furniture and any bulky item.
That way, you'll be able to exclude items that won't fit.

3.Consider the new lifestyle.

You've been used to living in your own house and taking care of your backyard. Now you're moving to a condo that hires gardeners to care of the outside space. With this in mind you likely won’t have any use for your gardening tools and other outdoor supplies.

4.Weigh the costs.

When downsizing, you can consider the condition and quality of the items you have. Worn-out sofas, for instance, are an excellent example of items to sell or donate. It may be more expensive to move with your bulky items than replace them.
Selling other items or donating will leave you with plenty of room for the items you wish to take with you.

5.Get Organized

Declutter your house if you haven't done so. You will need to plan what you will do with the items you've decided to leave behind. Mark those items headed for the following categories:

•Recycle bin.
Some items must go to the bin, such as old toiletries and broken appliances. Any item that isn't fit for donation is destined for the dumpster.

•Sale.
Furniture, appliances, and any item in good condition but no longer required can earn you some extra cash by selling them.

•Donate
Donate other items to a nonprofit or give them away to family or friends. Some nonprofits can pass by your house to pick up furniture in good condition.

6.Pack

Items you'll be moving with should be packed with care (as some might be fragile) and labelled clearly. You can add a specific box number where you packed each item on the inventory list.

7.Start Early

Start selling the furniture and other items as early as two to three months before the moving date, as this process can take longer than expected. You have likely taken years to acquire all your possessions. So, it can take a couple of months to sort everything.

The bottom-line

Downsizing may be an excellent choice if house ownership is overburdening you with yard work, cleaning, and upkeep. When it comes to exterior home upkeep, condo strata associations are often responsible for mowing the grass, removing snow, and doing necessary repairs.

While downsizing is a great option, do consider all the costs that come with moving out. If you decide to move to a condo, consider a building that has the amenities you want (for instance: pool, gym etc.), so if you pay for strata fees, at least you'll be paying for amenities that interest you.