There are many different reasons why someone might want or need to downsize. Some people can simply use the extra space, while others are planning a move or helping to move an elderly relative out of a home that has become unmanageable. Whatever the reason, you want to make sure you are downsizing the things in your home the right way—in other words, not giving away items of value or throwing out what you could contribute to charity.
So, what are the keys to properly downsizing an estate? Here’s some helpful advice from an expert estate appraiser in Maryland:
- Keep your downsizing goals in mind: Downsizing material possessions is about more than getting rid of a few things in your closet. It’s more about clearing your home of things you do not need or want, or selling possessions to raise funds. Therefore, it’s important that you keep your downsizing goals in mind and stick to them. Is your goal to create more living space? Is your home going up for auction soon? Are you the executor of an estate, or helping a relative downsize for a life-changing move?
- Set a deadline: Let’s say you’ve hired an estate auction service to help get the most money for your home. When it comes to selling your home at auction, you have already decided how you are selling, but you also have the power to decide when it goes up for sale. If you know when the auction is taking place, then you’ve got a pretty firm idea of a deadline to finish downsizing your personal property.
- Encourage yourself or your loved one to let things go: Tell yourself going into a downsizing project that you will part with things, as long as they are not treasured family memories—like photo albums, home movies or certain heirlooms. If you are helping an elderly parent or relative downsize, you must understand that what seems worthless to you may not be to them. Give everyone enough time to make the decision whether to keep or part with belongings; keep reminding yourself or your loved one that it’s okay to let things go.
- Check the attic or basement: Although items may be covered in dust, check everything that is stored in the attic, basement or other hidden home storage areas, instead of throwing things out or giving them away. There could be items in these out-of-the-way places that would fetch a great deal of money at auction. Consult an appraisal company to put an estimated value on such items.
- Hire a personal property appraiser: If you believe some of your possessions are worth something at auction, hire a personal property appraiser to help during the downsizing process. Items are usually valued based on researched comparisons to like items, or a specialist might be consulted to evaluate unique pieces.
If you are a property owner or the executer of an estate and would like to enlist the help of a reputable estate appraiser in Maryland, look no further than the experienced team at Jane Campbell-Chambliss & Associates, LLC. We are here to help you and your family with all of your estate appraisal and auction needs!