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24 | July• 2018

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Expert Downsizing Tips

BY VANESSA MILNE

Moving to a smaller home involves careful planning

PHOTO: GETTY IMAGES

BE REALISTIC ABOUT YOUR
BUDGET“he biggest misperception
is that people equate downsizing
with paying less” says real estate
expert Barb Sukkau adding that a lot
of new townhouses and apartments
are quite pricey. “If you need your
house to provide a nest egg consider
other ways you can make your budget
work such as looking for a home in a
less expensive location.”

BUYAPLACEYOURFUTURE
SELF WILL THANK YOU FOR
Even if you’re purchasing at 60
thinkofwhatyourbodywillbe
able to manage at 80. hat might
meansearchingforaresidencethat
doesn’thavestairsorscopingout
locationsthathavehandyamenities
within walking distance.

DON’T GET CAUGHT
BY UNEXPECTED
COSTSEven if you
make money of the
sale of your home
moving will take a
biteoutofyourproits.
Closing costs – which

includethingssuchasrealestate

agentfeesadvertisingfeesandlegal

costs–rangefrom1.5to5percent

ofthesellingprice.Ifyou’rebuying

an apartment factor in monthly

maintenancefeesandkeepasmall

reserve for unforeseen expenses.

STARTWITHTHEENDINMIND

Sukkau says a surprising number

of people buy a place that its their

furniture rather than the other way

around.“I’llhavecouplessay‘Oh

this bedroom won’t it my king-

sized bedroom suite’” explains

Sukkau.Buytheplacethat’sright

foryourlifestyle–evenifitmeans

sellingyourstuforrentinga

storage locker to house heirlooms.

GET ENTHUSIASTIC ABOUT

WHAT’S AHEADhink

about how your new

house will help you

live the lifestyle

youwant.“Itis

emotional but it’s

alsoexciting.hinkof

itasanewadventure”

says Sukkau.