Nothing lasts forever -- including a home where you raised a family or lived most of your working life. And it's a fact of life that suddenly, a place that was perfect for you a decade or two ago might start to feel cavernous and empty (or just contain more square footage than you really want to clean regularly). If you're starting to dream about trading in your rambling old house for a smaller cottage or new condo, then it's probably time to seriously consider downsizing from your current home. Before you start shopping and put your home on the market, though, there are a few things you need to think about and discuss with any family members who'll be making the journey with you. ### Consider your finances It's tempting to look up your home on a website like Zillow or Redfin and revel in how much money it's worth today. So finances might not be top-of-mind when you're thinking about downsizing -- you may believe that you're guaranteed to save money, but that's not always the case. ### Think about space A lot of people really love the idea of living in a tiny home, but in practice, it's not always as fun as it sounds. You might be well aware that the amount of house you have is in excess of what you really need, but if you don't think hard about the right amount of space for you at this time in your life, then wherever you land might also be too big ... or too small, on the other end of the spectrum. ### Ask yourself: Can you change enough to stay? Another option to consider while you're examining your finances is the opposite of downsizing: remodeling and staying put. It's an increasingly popular solution to the too-much-house problem, and it's possible that it could be right for you. ### Decide where to go If you're bent on moving out of your current place, then the obvious next question that everyone is going to ask -- from your relatives to your real estate agent -- is "where are you going?" ### Factor in cost-of-living changes While you're thinking about your finances, it's a good idea to also consider whether you'll be accruing any additional cost-of-living changes. This is best done after you know where you'll be moving -- cost of living might not fluctuate all that much within a city or a county, but if you're moving to a different state, or from the suburbs to the city or the city to the suburbs, then there might be some additional costs that you're not used to and therefore aren't considering. ### Find a place to land Now that you've got an idea of where you're going and how much it will cost, it's a good idea to start looking more specifically at your housing options. ### Replacing and shedding furniture You probably already know that you're going to be getting rid of some furniture -- they don't call it "downsizing" because you're adding new items. But knowing exactly what to bring and what to purge can be difficult, especially if you love a particular item of furniture but can't see its future in your new home. ### Getting rid of excess baggage Apart from furniture, you'll need to think about all your stuff, the books and decorations and clothes and kitchenware and appliances. ### Understand your storage options Some condos have a storage closet where you can stash overflow, and if you're moving into a new house, there might even be a garage, basement, or attic where your boxes can lurk. ### Organize, organize, organize Chaos is part of any move, and downsizing can be especially fraught because there are more moving parts to the process. The more organized you can be at every level, the better this move will go. ### Make the move When it's finally time to execute, it's very common for downsizers to be seized with second thoughts. Will you like your new home as much as your old one? Will you miss your things too much to fathom? What if you're making a huge mistake? What if you change your mind?
