Five Downsizing Tips for Luxury Buyers

Today’s buyers ready to downsize from the family mansion to a more manageable property don’t comprise their standards. Smaller luxury homes and condos contain the same high quality materials and generous living areas as larger homes. 

However, downsizing buyers need to take a hard look at their estate, as it can be a monumental task to depart with years of material accumulation. When making the move into a smaller space, these tips can help you pare down your belongings.

Decide what you can’t live without. Identify the pieces that truly matter to you to make your next property a home. That may make sacrificing an antique furniture set less upsetting knowing other pieces have more personal value.
Compare the size of your new space to your old space. Your new master bedroom may be the same size as your guest suite. The sitting area furniture would be snug against the bed. Perhaps that furniture could be used in another area of the new home, but it might be an item to downsize or pass on to your children.

Cash in on investment pieces. Now could be the right time to send the art collection or antique furniture you purchased years ago as an investment to auction. If not appropriate for auction, you can still make a return by selling your high-end furniture and decor to consignment dealers.

Start downsizing early. The larger the home, the more time you will need to plan what makes the transition and what needs to find a new home. Setting time each day for thinning closets, emptying filing cabinets, and sorting libraries will make downsizing easier.

Purge what you don’t need. Moving from a two-acre estate to a low maintenance condo?  Chances are you will no longer need gardening equipment or extensive outdoor furniture. The same is true from your kitchen: edit down the number of appliances and utensils you truly need. Keep the most important pieces of china and remove the rest.
Downsizing from a larger home to a smaller space can be a freeing experience. With less maintenance hassle, more time and energy is opened to truly enjoy life. Ask Barry Cohen Group to help you find the right space for your next luxury home in Toronto.