Small Space: Creating Value

In the past having a small property was a detriment to your real estate investment. Now, with the move towards simplifying, downsizing, retiring and vacationing, small properties can have a definate advantage. An experience designer can help you make the most of your real estate investment.

Here are some things to consider that will create value to a small property.

Location:

• A room with a view is a positive feature for a small property. An expansive view can make a small space feel larger. A designer will accentuate the view making it the focal point of the space.
• Cultural rich city. Being in close proximity to dining, arts and entertainment gives a small space a definate advantage. A designer will help you diffuse city noise.
• Nature: Being able to escape into nature via long walks through the park, lounging at the beach or fishing at the lake, being close to nature is prime real estate. A designer has tricks to bringing the outside -in.

Storage and Style:

• Purchasing or updating a small property with built-ins and storage options as well as providing multi-purpose rooms is a resale perk. A designer can custom design built-in storage and closet systems for the property. Buyers can definately see the value of a small home with built-ins and lots of storage.
• Paint. It's true, a fresh coat of paint goes a long way - nuetral is better as people want to visualize their own style in the space. One of my secrets is to paint the cieling the same color as the walls creating a seamless space.
• Product. Having the latests upgrades is important. Counters should be at 36" high. Tile should be updated or glazed. Fixtures, including plumbing and lighting should be updated. Cabinets and built-in's should appear rich and expensive. An interior designer can create concept and cohesion in a space.

Amenities:

• Purchasing in a development or community that is rich in amenities will definately pay off. Pools, hot tubs, exercise facilities, walking and bicycle paths, and covered parking are benefits with advantage. Your realtor can guide you through the process of finding the perfect community.

Retirement Perks: Downsizing

By looking at downsizing as a perk of retirement rather than a necessity, you will have a much better frame of mind going forward.

Converting from a large home to a smaller home - or, no home at all in the case of travellers, takes a lot of thought, effort and dedication. Let's face it if you are not dedicated to your new mantra of "less is more" you will soon acquire new "stuff".

The New Home:

Location! Location! Location! Evaluate how you want to live and this will help you decide where you want to live.

For example, if you dont want to cook anymore, living in an area with a wide range of restaurant choices would be a essential factor in determining where you want to live. Also, you would no longer need a large kitchen. However, if you dream of living out in the country with no neighbors and a long trek into town you would need lots of pantry storage and a working kitchen. Both options can save you money in different ways.

When downsizing to your new home every room should have purpose, be utilized daily and be multi-purpose if possible. No more unused "formal" spaces. A great room provides, seating, viewing and dining all in one space. You can sit in your living space, watch television and have a table and chairs for dining all in one area. An extra bedroom should be multi-purpose. You can use if for tv and office, or guest room and office, or even guest room, office and tv/reading. Built-in storage and shelving, as well as a murphy bed or sleeper-sofa will be great investments.

Converting a closet to a computer credenza makes good sense and is much more useful. Creating and making the most of built-in storage and shelving systems will utilize volume of space from floor to ceiling. Creating storage is a vital component of downsizing as well as employing the volume of the space.

If you decide that you will travel during the first part of your retirement years you may decide that puting everything in a climate-controlled storage facility makes more sense and saves money. So what do you put in storage? Only the basics, items you will need/want when you are ready to move into a home again. Basic furniture items, kitchen items and mementos you cant part with, bed and bath items. You may find that many of the items you couldn't bare to part with in the beginning don't hold the same importance to you after you've been travelling and living without them for so long.

Perks of Downsizing: You are living your newly designed lifestyle. Less cooking. Less cleaning. Less maintaining. More dining. More relaxing. More freedom.

Purging and Clearing the Clutter:

It took many years to collect everything in your home. Many of those items hold emotional ties. Downsizing means you must re-evaluate and let go of many of your belongings. Some things will be easy and you will laugh at how silly it seems now to have held onto them for so long. Others will be extremely difficult to let go of.

First of all, it is best to ask children and family members if they want any of the items you are considering getting rid of. Your children may want old photos, heirlooms and furniture or yard maintenance items. I have listened to many stories of family members who are fighting over items they want as mementos of their parents once they have passed on. Why not give them those items now while you are still with them. Whatever items your family members dont want you need to respect and understand that your tastes are not theirs. You enjoyed the collection and that's what's important. Now you can look at the items as good investments - by selling these items at a garage sale you are making money that you can invest with.

Photo's: Keep a few family photos, the rest can be scanned and copied onto disc's and disc's can be copied and distributed to family members.

Clothing: Do not store clothing. Evaluate what you will need and use, and get rid of the rest.

Furniture: Keep only what you will use and wont become outdated. Pass on heirloom pieces, sell or donate the rest.

Holiday/Seasonal items: Keep one small box of your favorite things, distribute the rest among younger family members with small children and big homes! Your future holidays will be spent travelling or visiting family.

Collections: This is the hardest to get rid of. My best advice: Use, Donate, Sell.

Perks to Purging: You have addressed the issues of who gets what. You are freeing yourself of possessions. You have freedom to move.

Downsizing Pets?!

Yes it's true. When I moved into a larger home four years ago we had two hampsters, two finches, two cats and one medium sized dog. Well, hampsters get tumors and finches have a short life span. As the beloved pets passed on, I passed a new house rule - no more caged animals. Seeing how I was the only person cleaning the cages this was easy for me. We still have the cats and the dog but I inform my kids - regularly it seems - that when they move out they are taking their pets with them. By carefully planning the future, I will have only a small lap pet during my retirement, one that can travel with me, otherwise, I will have no pets at all.

Perks for downsizing pets: Less mess. Small space = small pets. Freedom to travel.

Downsizing provides more time, more money, more freedom and less burdens. Downsizing is indeed a retirement perk!

Symplify and Save Big

Let's face it the grass always looks greener on the other side - or across the street. In my case the thought of a larger house for our growing family was very enticing. Now, only four years later, I yearn for my previous smaller-more-efficient home where every inch was utilized and had purpose. Never did I consider the fact that many of the rooms in the new home are hardly ever used (formal living room, formal dining room, guest room). Or, what it would take to clean such a large place. I hardly ever see my kids because they have most of what they need in their bedrooms.

Being an interior designer, I often get calls from realtors inquiring about staging properties with furniture until the property sells. I soon realized that I have enough extra furniture and accessories in my own house that I can actually stage a small two bedroom condo!

As the kids get older and will soon be on their own, I am beginning to evaluate my belongings and wonder what their purpose will be in the future. I'm fairly certain my kids wont find my extensive shot glass collection of any sentimental value when they move out. Also, having acquired my mother's antique dining suite, I am fairly certain my kids wont want any of my furniture when they move out either.

Therefore, I am now retraining my thought process when I make a purchase. Although I have always been a true believer in "retail therapy" I must now consider: 1) why am I purchasing this item 2) what is the life expectancy of the item 3) do I really need it? 4) is it something my kids would want in the future? 5) what will it cost to maintain it? After asking myself these important questions I probably wont actually purchase many of the things I considered purchasing. I figure I will save a few hundred dollars every month by eliminating unnecessary items.

By trading my large home for a smaller-but-well-designed home, I will save thousands of dollars a month in mortgage, insurance, property taxes and utilities!

The light bulb is on and the horses are out! I'm loving this already! Heck, if I lose 15 pounds I already have a fairly new wardrobe waiting in my closet! I can afford to vacation AND look good! Simplifying does make perfect sense.

Small Spaces: Built-ins are a Blessing

The interest to downsize or simplify one's lifestyle has been gaining in popularity. Especially now, when baby boomers are beginning to retire and re-evaluate their current lifestyle and learning how to transition into their future lifestyle. I believe that built-in storage and shelving is critical to the successful transition to a smaller space.

Let's face it, when moving from a large space to a smaller space, somethings got to go. But having a well-planned space to move into will make life so much easier. Built-in storage and shelving is a key component to a well-planned space.

Use that space. I'm talking volume. From floor to ceiling, use every inch. A thoughtful layout will be functional and beautiful. Open shelving combined with closed cabinets and drawers, multiple levels, room for art and accessories as well as storage for paperwork and utility items.

For example, in the master bedroom, under the bed storage is great for keeping wrapping paper, seasonal clothing and items such as skis. A thoughtfully designed built-in closet system will utilize the space so much better than your standard shelf and rod. Built-in closet systems can provide additional drawer space, room for shoes, hats, and purses. Tie and belt racks are a great addition for your closet. You will save time with an organized closet by finding what you need when you need it, and your things will last longer if they are stored nicely rather than in a heap.

How about turning an unused hall closet into a built-in computer credenza that can be closed up and out of sight when not in use! Also, built-in benches with seats that can be lifted up are an excellent way to store extra blankets and bedding or boxes of photos.

An extra bedroom can have multiple uses by incorporating a murphy bed system that integrates built-in storage or a corner desk thereby providing space for office work or a t.v room as well as space for guests.

Hiring an expert that has fresh insight to your needs and can custom design the perfect solution will ease your burden and free up your time so that you can get to the task at hand - purging unused items.