What is Rightsizing and How to Do It
Rightsizing is the idea of considering how you live in your home, how you utilize your space and declutter. Usually, this leads to moving to a new place that is smaller than your current one, where you can fully use the space you have.
Downsizing vs. Rightsizing
You’ve probably heard of downsizing, which is essentially just moving into a smaller home. Downsizing usually comes about after a change of circumstances in life, like your children moving off to college or just the general desire for a smaller space as you age.
Rightsizing differs from downsizing as it is the concept of reevaluating your life and what your current needs are in a home and your space. Instead of specifically getting rid of things or moving to a smaller home, rightsizing is finding that sweet spot. It may mean you need less space, or you just need to reorganize and make better use of your current space.
Either way, it’s a nice concept to utilize, whether you are part of a growing family or now live on your own.
When To Consider Rightsizing
Studies show the average size of an American house is getting smaller. People aren’t waiting to reevaluate their home’s size and use until they are empty-nesters, but rather revisiting throughout each stage of life.
Here are a few questions you should ask yourself before taking the next step into rightsizing your space:
- Is my family going to grow?
- Are my kids going off to college soon or moving away from home?
- Do I have empty or unused rooms?
- Am I making the best use of my current space?
After reflecting on these questions, you may have a better idea of what you and your family need.
Benefits of Rightsizing
Clean out your space and your mind
Many times when people are looking for their first home, they come across one with lots of space that they just can’t say no to. We all have ideas of how we will fill the space, which room will be the craft room, or where to put the home gym.
Over time you may find you never got around to making those changes, and now you have rooms that are just sitting empty or are filled with junk and clutter. These rooms can cause stress or anxiety any time you walk by, and over time this can negatively impact your overall health and wellbeing.
Be realistic with what you need and what you don’t. There’s no need to spend more money just to fill the empty space, and there’s no need to keep clutter around either. Instead, reflect on what you do need.
Decide if you need to do a good cleanout or downsize to a smaller and more manageable home. In the end, you will feel better about your space and the overall purpose of it, therefore leading to a happier and more positive outlook in your day to day life.
Build your wealth
Additionally, rightsizing can help save you money both in the immediate future and down the line. If you decide you can’t make your current space work and want to move, you will most likely make money off the sale of your home and can save it since a smaller home usually means a smaller price point.
Not to mention, the mortgage will most likely be lower in a house with less square footage. If you’re not sure if this is true for you, research how much your home is worth compared to others in your area. You may realize you can make some real money off the sale, and that might be encouragement enough to put it on the market now and get your rightsizing plan underway.
How To Get Started
If you think rightsizing is best for you, the first step is to talk to those you live with. Speak to your family and decide together if this will be beneficial to all of you. Although you may like the idea, others in your home may not be ready to move on or to move to a smaller space.
It’s important to create a positive experience, and if everyone isn’t on board, it probably isn’t the right time. If everyone does agree, it’s time to get things rolling.
As mentioned before, get started by putting your house on the market, and finding a new one to call home. In addition to all the traditional things to consider when looking at a home, make sure you take all of the previously mentioned rightsizing concepts into consideration, too.
Look for a purpose and benefit in each room you see. Remember, you are trying to make a very intentional and purposeful purchase, rather than finding something that looks nice but is overflowing with excess space.
Once you have found the perfect home, go through your things to decide what should come with you and what you can donate or sell. If you’re not fully ready to commit to getting rid of some of your belongings, find a storage unit to keep them in for a couple of months.
Once you are in the new home, give yourself some time to see if you miss those things, or if you didn’t even notice they were gone. This is an excellent way to see what you actually need, rather than just what you want, or “someday” may need again. It will help you start off with a clean slate, with less clutter and a renewed mindset.
No matter what stage of life you are in, it will always be helpful to take time to consider if your current space fits your current lifestyle. Whenever you are feeling overwhelmed by a cluttered room, or notice you have more empty space than you once did, consider beginning the rightsizing process.