To downsize can be a big decision. There is a lot to consider, such as cost, future plans, family, etc. We have a few tips to help you make an informed decision.
- Do you have enough equity in your current home to make a good profit? If you have stayed in your home for awhile chances are you have built enough equity to make a down payment on your next home. If you have a significant amount of debt to pay off, you may want to consider waiting before selling your home in order to downsize.
- What will your budget look like? If your retirement is coming soon or you have already retired, you may be on a fixed income. Downsizing may be a good choice, especially if the new home is less expensive to live in and maintain. Consider insurance costs, travel plans, etc. and keep in mind that ideally, less than 30% of your monthly income should go towards housing.
- What lifestyle do you want to live? After you downsize, do you want a very low maintenance home to make room for traveling, etc? Maybe you want a luxurious home that you can entertain family and friends in frequently. Decide how you want to live before taking the plunge and downsizing.
Putting in a plate rack either above or underneath cabinets adds some interest and is a great way to display any pretty and colorful plates.
Installing under-cabinet lighting really highlights the room while being very functional at the same time. Many kitchens do not have enough lighting so utilizing the space underneath the cabinets is perfect for making the kitchen more beautiful and user friendly.
Install a pull-out cabinet shelf:
Make the most of the cabinet storage space you have and put in pull-out cabinet shelves.
Instead of investing in brand new cabinets and spending $5,000 and up, reface existing cabinets for under $1,000 to give them a brand new look.