Five Ways To Prep For Downsizing

The current real estate boom is motivating enough for many older homeowners to start thinking about putting the family house on the market. While landing a good price for a sale is a great reason, so too is finding a place that’s smaller, simpler, and easier to maintain. That being said, the tough and tedious process of sorting through belongings, selling furniture, and parting with sentimental items is a lot to bear. Here are a few tips to help get the process started. 

Start Now

Even if you’re not yet ready to downsize, it’s a good idea to begin organizing yourself early. Seasonal changes are a fantastic time to start getting rid of clothing and equipment that never make it out of the closet. Pretty soon it will be spring, so take stock of what you didn’t use in the winter. Facebook Marketplace is a great way to make a few extra dollars on gently used goods or consider your local shelter or Salvation Army for donations. 

Take Photos

Leaving a house can be difficult, especially if it’s one that you’ve raised your family in. Be sure to take photos and videos of the various places where memories were made and invite family and friends over for intimate gatherings. After the house is gone, you’ll appreciate reminiscing and remembering the good times through pictures. A video diary is a fun thing to share with the kids and grandkids too. 

Choose Your Favorites

Collections are always very hard to part with so pick a few favorites and let the rest go. Some collections, such as shot glasses, have plenty of sentimentalities but not much monetary value. Other collections can be worth a pretty penny once you’re ready to move them on. Either way, downsizing into a smaller space is the perfect time to get rid of some of the things you’ve been holding onto for a long time. 

Paperwork Purge

This is one of the worst tasks but it’s a must for many downsizers. So many of us hold onto paperwork for too long, only to get completely overwhelmed and bogged down with it years later. Things that might seem worth keeping such as tax returns only need to be filed for seven years, if that. Most of our accounts and records are kept online anyway, so there is really little need to have hard copies of anything. Invest in a good shredder and start pushing that paper.

Get Help

Downsizing is tough to do alone, so enlist your children to help with the sorting and organizing. If you’re the sentimental type, it’s also a good opportunity to pass treasures onto family members. Kids and grandkids will enjoy having special momentos that mean something to both you and them and it will feel wonderful passing on those treasures. While it can all seem overwhelming at first, the process will actually become freeing as you move into a new phase of your life.

Bob O’Donnell is the owner of O’Donnell Bros. Inc., a Bristol-based home improvement company established in 1975. Email your questions to info@odonnellbros.com with the subject line “Ask the Pro.” All questions may be considered for publication. To contact Bob for your remodeling needs, call O’Donnell Bros. Inc. at (860) 589-5155 or visit http://www.odonnellbros.com. Advice is for guidance only.

Downsizing During a Record-Breaking Real Estate Market

I read an article last week that said the local real estate market is riding a 15-year high as urbanites look to flee the city and work-from-home folks need more space. 

Selling the family home for a smaller house or apartment is a popular consideration as we age. As much pleasure as a larger property can offer, it’s also a lot to clean and maintain on a regular basis. Many baby boomers agree. According to a survey by real estate company Zillow, almost 50 percent of boomers who sold homes were in the process of downsizing. So how should you tackle the tough and tedious process of deciding what stays and what will go? Here are a few tips to take into consideration.

Start Now

Even if you’re not yet ready to downsize, it’s a good idea to begin organizing yourself early. Seasonal changes are a fantastic time to start getting rid of clothing and equipment that never make it out of the closet. Pretty soon it will be spring, so take stock of what you didn’t use in the winter. Facebook Marketplace is a great way to make a few extra dollars on gently used goods or consider your local shelter or Salvation Army for donations. 

Take Photos

Leaving a house can be difficult, especially if it’s one that you’ve raised your family in. Be sure to take photos and videos of the various places where memories were made. After the house is gone, you’ll appreciate reminiscing and remembering the good times through pictures. A video diary is a fun thing to share with the kids too. 

Choose Your Favorites

Collections are always very hard to part with. My best tip is to pick a few favorites and let the rest go. Some collections have plenty of sentimentalities but not much monetary value. Other collections can be worth a pretty penny once you’re ready to part with it. Either way, downsizing into a smaller space is the perfect time to get rid of some of the things you’ve been holding onto for a long time. 

Paperwork Purge

This is one of the worst tasks but it’s a must for many downsizers. So many of us hold onto paperwork for too long, only to get completely overwhelmed and bogged down with it years later. Things that might seem worth keeping such as tax returns only need to be filed for seven years if that. Most of our accounts and records are kept online anyway, so there is really little need to have hard copies of anything. Invest in a good shredder and start pushing that paper.

Get Help

Downsizing is tough to do alone, so enlist your children to help with the sorting and organizing. If you’re the sentimental type, it’s also a good opportunity to pass treasures onto family members. I also advise having someone close by if you’re tackling the more difficult parts of the home such as attics and storage spaces as they can be quite warm, stuffy, and harder to navigate. Don’t take on any of these projects if you’re home alone. 

Bob O’Donnell is the owner of O’Donnell Bros. Inc., a Bristol-based home improvement company established in 1975. Email your questions to info@odonnellbros.com with the subject line “Ask the Pro.” All questions may be considered for publication. To contact Bob for your remodeling needs, call O’Donnell Bros. Inc. at (860) 589-5155 or visit http://www.odonnellbros.com. Advice is for guidance only.

Thinking of Building a Tiny House? Here’s What You Need To Know

Tiny houses have exploded in recent years with more and more people ditching expensive mortgages and time-consuming maintenance in favor of downsized dwellings.  In addition to being cost-effective, tiny house living has a lot of interesting perks that make it a fun option for home ownership on a budget. Interested in learning more? Here are a few things you need to know before taking the plunge.

Let’s start with some stats. A tiny house is usually between 100 and 400 square feet, which will be a huge adjustment considering that the average American house size is 2,500 square feet. To put the size of a tiny house into perspective, you could fit 144 of them inside a football field. That’s a lot of houses in a little space!

If you think tiny homes are for millennials, you’re in the dark. In fact, two out of five tiny house owners are over 50 years old, making them a smart choice for both the young and adventurous and people looking to downsize and have less to worry about in retirement.

The average tiny house on wheels costs about $50,000 to build, while a house on a foundation can cost upwards of $110,000 or more depending on the bells and whistles. From an investment perspective, realtor.com reports that homes less than 500 square feet are appreciating twice as fast as the overall market (19% vs. 9%).

Speaking of money, it seems tiny house owners are more financially comfortable too.  It is reported that 89% of tiny home dwellers have less credit card debt than the average American and 60% of have no credit card debt at all. Tiny house owners have are even reported to have 55% more savings in the bank than the average homeowner.

So where do you start? Interestingly enough, an Austin, Texas-based construction company called Icon just unveiled the first-ever 3-D printed home in the U.S.. The 350-square foot home took just 48 hours to print and cost about $10,000 to create, though the company estimates that it will be printing 600 to 800 square foot houses for around $4,000 and will begin taking orders nationally in 2020.

If this new technology is a bit too hot off the presses for you, there are tons of more traditional options to consider, many of which use traditional building methods and materials on a smaller scale. Locally, Craft and Sprout is a Greenwich, Connecticut-based tiny house company with 20 years of experience in custom building. B&B Tiny Homes in North Adams, Massachusetts is another local builder that specializes in traditional and modern tiny homes with a truckload of customization options. Finally, I’d suggest taking a look at Wind River Tiny Homes for beautiful, unique designs. They are a bit further afield in Chattanooga, Tennesee, but their craftsmanship is hard to beat.

Have you thought about tiny home living? Do you have a local builder that you recommend? I’d love to hear from you, send me a message on Facebook at facebook.com/odonnellbros.

Bob O'Donnell is the owner of O'Donnell Bros, Inc., a Bristol-based home improvement company established in 1975. Email your questions for Bob to info@odonnellbros.com with the subject line “Ask the Pro”. All questions may be considered for publication. To contact Bob for your remodeling needs, call O'Donnell Bros, Inc. at (860) 589-5155 or visit www.odonnellbros.com. Advice is for guidance only.