Rightsize in the right way

By Rich Harvey, CEO, propertybuyer.com.au

For many owners of Australian property, rightsizing means moving into a smaller home. Not only can this create a more comfortable home environment, it can be a big boost to bank accounts.

However, as anyone who's ever moved knows all too well, switching houses can be a headache and a half. Fortunately, when it comes to rightsizing into a smaller space, there are simple strategies you can use to streamline the process and save your sanity.

In fact, two are simply questions you need to answer.

What really matters?

Plenty of people are pack rats in this day and age. From bronzed baby shoes to outdated paperwork, chances are your current property has its fair share of unnecessary items.

Rightsizing is all about having a home that suits your needs, and that doesn't mean bringing along every last product or keepsake you've accrued.

Trash or treasure, it pays to do a thorough clean of your home to decide what will make the trek with you to your new property and what will stay behind.

Hold a garage sale, make some donations to a local charity - whatever you do, remember that rightsizing your life goes beyond the square footage of your home, it also involves what goes inside it.

What would you replace?

It can be difficult picking and choosing what goes into your new home. From furniture to full-length mirrors, it's easier to build an attachment to inanimate objects than many people think

One easy way to decide what stays and what goes is to imagine your house has burned down or been flooded. Essentially, you'll want to ask yourself what you would actually take the time to replace if your possessions were ruined.

Would you really go out of your way to purchase the twin version of that couch, or would you perhaps opt for a new, smaller version?

Eventually you'll find yourself with a list: What you can't live without and what you won't mind losing. If your buyers agent is finding you a smaller property, think long and hard before you put something in the first category.