One of the greatest perks when downsizing is the opportunity to live minimally with items you treasure, to declutter and simplify or upgrade your lifestyle with stylish interiors and other choices that make your home worth more to you than its asset value.
READ: Essential budgeting tips for homeowners and the benefits of downsizing
Why do people downsize? It’s a question that is constantly being driven by market conditions and economies, and no longer is it just the purview of those now in or approaching retirement or empty nesters. “It is also a lifestyle choice,” says Kim Woods, franchisee of Tyson Properties’ Morningside Durban office. “Many people are choosing smaller dwellings over larger properties, intentionally deciding to sacrifice living space for a more affordable or improved lifestyle that allows them to devote more time and money to things they love.”
Downsizing is not always about moving to a smaller house, it can also mean repurposing an existing property to cater for multi-family or multigenerational living, where a large home is divided into separate living quarters. “This means elderly parents or children can share costs and maintenance burdens, freeing up valuable financial and time-saving resources that can be directed to a better quality of life,” says Woods.
Upgrade lifestyle
Downsizing is a trend that has innumerable benefits beyond financial. Owner of Eyezwe Interiors, interior designer Cynthia Mabela, highlights that downsizing can translate into ‘upgrading’ to a more sophisticated lifestyle to realise the benefit of a happier way of living. “A better term for downsizing is ‘rightsizing’ which is more about finding a home that suits your needs and lifestyle for a better quality of life.”
Both Mabela and Woods believe that the trick to finding the right smaller property or designing one on an existing property requires making smart choices. “How you want to live plays a big role in your decision-making,” says Mabela. “Form and function in the design of your home are key. There is no point in having a big kitchen if you do not regularly entertain a large number of guests.”
READ: Downsizing deliberation: Tips for retirees and empty nesters
Relationship with space
“How spaces function is important, be it the layout or how you design and place furniture in the space. You need to ensure that the home flows with ease and has a good mix of practical and aesthetic value.”
Mabela says that thought should also be directed at how many rooms are going to be used regularly, and prioritising needs and wants.
Preparing to downsize
Whether you are moving to a smaller property or repurposing an existing one, crucial decisions need to be made about how the space will be used. Mabela advises that you should visualise how you will use each space to suit your needs. “For example, will your current furniture work in each room? What do you need to achieve a spacious yet comfortable home? This will help you decide what existing furniture you can use and where it will be placed.”
Planning will really make this task easier. Mabela suggests sketching out the layout of the new space and marking where you will position existing furniture. “Take note of the walls to determine where you can place artwork and mirrors. Choose multifunctional furniture that can also provide storage solutions. You may not even need to buy new pieces if you can reupholster and resize furniture pieces to give a sense of newness in your space,” she suggests.
READ: Moving? 3 ways to keep costs low
Storage solutions
There are many key ways of fitting into a smaller space, especially if you have many items that aren’t used frequently but are still important to keep for whatever reason. “Maximise vertical storage solutions such as shelves and tall cabinets, and use beautiful boxes and baskets to give you an easy-styled yet functional look. Consider investing in under-bed storage and ottomans for extra out-of-sight storage and, if you are still completely overwhelmed, invest in hiring a professional to help guide you on designing your new space,” says Mabela.
Cutting the clutter
There is no guarantee that all your existing possessions can move with you. Realise that you may have to invest in smaller furniture and part with items you are emotionally attached to that will not fit the new environment. This can be a healthy exercise, allowing you to let go of what is familiar in exchange for an improved quality of life.
“Change is stressful for most people so be prepared. Give yourself enough time to decide what to keep, donate, sell, or throw away,” says Mabela.
Creating a brighter future
"Downsizing or rightsizing can often be a blessing in disguise,” concludes Woods. “It can be a positive step for your and your family’s future. See it as an opportunity to start afresh, create new memories and tame the clutter.”
READ: Local property market ups and downs and tips for buying a home
On May 25, 2022, an insightful article was published, offering valuable information, featuring Ana Roberts of Just Property Upper Highway, and Graham Ross of Just Property Blouberg, says that another great benefit of downscaling is that small spaces require less furniture - a few great statement pieces allow for simple, minimalist décor and a beautiful, welcoming home at a fraction of the cost of furnishing a big house. And the cleaning is a breeze!
Less clutter equals less stress, and isn’t that what we are all looking for now?
Tips for cosy-home hunting:
Location, location, location - You want to remain close to your family and friends, and have ease of access to stores and other amenities such as doctors, hospitals etc. Narrow your search to areas that tick these boxes.
What are your deal breakers? Does the home offer the main assets that are important to you, for example, a good kitchen, nice family space, shower etc?
Current wants vs future needs - If you are downsizing because the children have moved out and you are getting older, consider a single story with the ease of access rather than a property with stairs that may cause a problem later.
Growing pains - Will you be able to handle the upkeep of a big garden, or is it time for something smaller that is more manageable? Will your pets cope with a smaller space; is there somewhere nearby where you could walk them?
Fit for purpose - Will your favourite furniture fit in the new space? Make a list of every piece with which you can’t part. Take measurements. Then take a tape measure with you when you start narrowing down your list of potential new homes.
Storage war - Is there enough cupboard space in the bedrooms and the kitchen? Do you need outside storage too?
Paper trails - Remember to ask for compliance certificates, even those that aren't required in your province (for example, gas installations and solar geysers should come with a compliance certificate - if something goes wrong and you don't have one, your insurers may refuse to replace the geyser, or cover damage caused by a gas issue).
Complex questions - If you are moving into a complex or an apartment, be aware that there may be the added expense of levies, clubhouse fees and/or security. Ask about historical escalation rates and request a copy of the body corporate rules (if applicable.)
Ask your neighbours if there are any noise issues, does sound travel through the walls and ceiling? How old is the plumbing, the lifts etc - upgrading such items is very expensive and you’ll have to contribute. What parking is available for guests?
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