Zack Childress-Downsizing a Home – Part 2

By Zack Childress | Real Estate

Dec 14

zack-childress-downsizing-a-home

Introduction

Zack childress, a real estate mentor and author, gives more tips on downsizing a home. people must read part 1 before they read this.

Analyze the real estate market:

Before the seller sells his home, he must analyze the market and understand what he can make out of the sale. He must hire a seasoned real estate agent and also discuss with family and friends who have similar experiences. Reviewing market trends are important. This way he can plan the budget for his new home. He can analyze whether moving out is beneficial to him.

Downsizing a home-Yearly taxes and insurance:

A person must keep room for yearly taxes and property insurance payments while he plans the budget for his new home.These can form a big lump of his modest financial estimate. Can he cut down on those expenses in case he choose a different neighborhood, a smaller home or a smaller plot?

Assess the storage space:

Before moving out, a person must assess the storage space in his new home. These are some of the things to be budget.

  • How many closets are there in the rooms?
  • How many kitchen cabinets are there?
  • How many shelves are there in the cupboards and cabinets?
  • Are the shelves wide enough to accommodate things which are big breadth wise and long enough to hold tall things? For example to hold a tall glass jar, you might probably need a wide shelf (not advisable to keep it lying down).

By assessing this, he can prioritize the things that he wants to take with him.

Make a wish list:

It’s not possible to take everything when a person moves out. So to feel less emotionally upset about the things that he is leaving, he should make a list of the most loved things.

Discard broken and unwanted items quickly:

A seller must do this fast. So here are some of the ways in which it can be done

  • He must completely clean up cabinet and ransack the hidden areas in these
  • He must empty out the storage areas like the basement and attic completely and remove unwanted furniture, boxes, broken things, paper tumblers and so on.
  • If he lives in an apartment, he should put up the list of things he wants to sell on the pin board
  • He can take the help of the real estate agent or put up ads in the local newspaper to sell
  • He can call up friends and relatives to give them the in the good condition yet unwanted things

Organize:

packing must be well planned. A seller must pack in such a way as to make sure that the things belonging to one room are seen conspicuously. For example if he writes K over a box, then the things in that box must belong to the kitchen. Similarly numerical and color codes can also be used for efficient movement into a new home.

Conclusion

These are some of the tips given by Zack Childress to downsizing a home. Prospective downsizers should read this and they will surely benefit.

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About the Author

Zack Childress is a 10 year real estate investing veteran. He invests in 7 different markets simultaneously and doesn’t need to travel all the time to these 7 markets because he invests virtually. He’s coined a system where he doesn’t put any cash or credit down for his deals and he can buy and sell the property in just 7 days. You can get more details about this no money down strategy here. http://www.co-wholesaling.com

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