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Whether someone is struggling with debt or no longer needs a larger home, knowing how to downsize can be tough. Not knowing what to keep or what to toss can lead to stress and anxiety and result in not doing anything. However, there are ways to make the process just a little easier. Here are some common mistakes to avoid when downsizing a home.

Being Impulsive

The thought of eliminating debt is an exciting one. However, some people get a little too wrapped up in their own excitement and make rash decisions. This can include selling things too early, forgetting things, and accepting the first offer that’s given. When it comes downsizing something as big as a house, it’s essential to plan ahead of time.


Organizing and Packing Everything Alone

One of the least enjoyable tasks that comes with downsizing is packing. Depending on how big the house is, packing can take hours, especially if someone is doing it alone. Unless someone is a minimalist and doesn’t have that many belongings, packing solo is not recommended. When the time comes, be sure to ask a friend, a family member, or even the neighbor next door to help. If all else fails and finances permit, hire a moving company to pack the items.


Taking Oversized Furniture

Another common mistake people make when downsizing their home is taking furniture that is too large. Whether it’s an antique armoire or a lage comfy couch, there’s only so much a person can bring. Downsizing is a fancy way of saying “sacrifice,” and that means parting with cherished pieces of furniture. Unless it’s something that has true sentimental value, consider selling or donating it.


Avoiding Taxes

Just because someone is downsizing their home doesn’t make them exempt from taxes. Unfortunately, some people think that they don’t have to do taxes after downsizing. But, the sad truth of it is that no one is ever free from taxes. For example, if a person is leaving the state after downsizing their home, they need to review its real estate taxes. Taxes vary from area to area, and being informed before leaving is going to help.


Downsizing a home is a big decision, but once it’s made, it’s crucial to be prepared, especially if it’s your first time. Be sure to review this information to make sure the downsize is a success.