What to consider when moving into a smaller home

If you're a homeowner who doesn't feel you need a large house anymore now that your kids have grown up and fled the nest, the Star Tribune states you don't have to move to an apartment or condo. Instead, you can hit the home listings for a smaller, more cozy home to fit your changing needs.

According to the newspaper, there are numerous things to take into consideration when thinking about selling your house for a smaller residence.

Now that it's just you and your spouse living together, the Star Tribune states you may want to consider how many rooms you want in a new home. Create a rough floor plan of your ideal home and what exactly you want in it. Do you want one bedroom or two? Do you prefer to have a big backyard or is a small one OK? These are things you should be asking yourself when contemplating moving.

Many people who are retired want to enjoy their older years in an area that has pleasant weather year-round. That doesn't necessarily mean a place where it doesn't snow or is warm all the time, but somewhere where you can be comfortable living in, the paper says.

Also, the ST suggests thinking about the condition of a potential new home. While you may have liked buying a home that needed some fixing up when you were younger, you may not want to take on substantial home remodeling projects at a new house. So, when visiting open houses and checking out properties, make sure the houses are in top-notch shape and would likely require little or no repairs.

Downsizing to a smaller residence may mean only being able to bring some of your current furnishings. You may need to sell extra furniture or donate it when moving. However, if you choose to donate furniture, the Star Tribune says you may be able to get a tax deduction, so take that into consideration.

Many homeowners enjoy living in inviting communities with friendly neighbors, the paper says. When search for a new house, ask a real estate agent about neighborhoods to see if there are certain areas where the community is lively. One way to determine a neighborhood's quality is to see if there are any events, such as festivals and block parties, which take place regularly near a home for sale.

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