Posts Tagged ‘Baby Boomer’

What it takes to make make money selling your unwanted stuff

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Store selling vintage items

 

 

When you’re downsizing your home in preparation for moving, the first question you may ask yourself is, “Can I make some money on the stuff I already own?”

Much of what you own and no longer want can probably be donated as long as it’s still usable but if it pains you to donate items to charity because of the time, money and energy you spent acquiring them in the first place, here are some questions that can help break your paralysis around the dilemma of sell or donate?

Is it valuable?  

Sometimes the easiest way to find out is to do a little internet research on sites that sell similar items to see if any have sold recently and for how much? Be careful to check sold listings not just items for sale.  If there is a glut of similar items on the site, chances are they are waning in popularity.  You can check online auction sites such as e-bay, Etsy, Amazon or Shopify.  Another option is to get a formal appraisal but since this often is fee-based, consider it for items that you know have high value such as fine jewelry, furs or collectible art but not sure how much.

Is it an antique?

Just because something is old, does not mean it necessarily has value. Value is determined by how much a particular item demands in the marketplace now. Just because you love it, or your parents spent a fortune on it, doesn’t mean it has value in today’s market. One notable category for this is antique furniture, unless it was manufactured in the 1950’s and 1960’s. Mid-century modern furniture is particularly popular for the millennial generation of new buyers, those in their twenties and thirties now or those born in the twenty years after 1980.  Consider the fact that today’s young couples probably have no interest in either your grandmother’s china (unless it’s microwave and dishwasher safe), that early-19th century loveseat you bought at auction or those fabulous matching suits you wore during your career in the 80s and 90s.

Is it in excellent condition?

If it’s worn,  torn, stained, faded, damaged, needs more than a minor repair to make it functional or has a strange odor, chances are it won’t sell. But it could still be donated. Consider that oversized sectional sofa you have that’s just a few years old.  If the fabric looks new and it’s free of damage, it still probably won’t be easy to sell unless you do so through a community sale site such as on Craigslist or NextDoor and even then you should expect to get no more than 15%-20% of your original cost. (Remember someone also has to pay to have it transported out of your home.)

Is it a collectible item? 

Now here is the good news.  Vintage items such as art, jewelry, toys, used sporting goods, clothing and even some vintage office supplies are in demand now. Recently a client of mine was getting rid of an old banana-seat bicycle she’d kept.  Despite some metal rust and obvious wear, she was able to sell that bike for about $1,000!

Vintage is the new antique!

There are stores popping up all over now that carry a wide range of unique items that look like they were taken from a barn or a small town general store. Things like signage, county fair items, old store fixtures, barber shop poles and library card catalog drawers are finding buyers who feel nostalgic but don’t want their homes to resemble their grandparent’s homes.

If it’s clothing, is it less than 2 years old or more than 40 years old and in very good to excellent condition?

Resale of gently used designer and brand name clothing and accessories has become a big business. Sites like Thred Up and The Real Real have tapped into this market and so have brick and mortar consignment and thrift shops. But what if you have a basement or closet overstuffed with clothing you don’t want anymore that is more than two years old and maybe not quite “vintage?”  In general, consignment businesses are looking for items they know their customers want now! Don’t even think about bringing in that designer linen blouse if it’s still early spring.  Also, you probably won’t find a buyer for those unopened bags of clothes you ordered from online sites, unless they are designer brands, not just popular labels. If it’s a luxury item, such as a fur coat, you may be better off donating it as long as you have an appraisal or receipt that can testify to its current value.

Do I have time to do the legwork of selling?

This, more than any of the other five questions, should be the one you consider first. I left it for last because most people don’t even consider the value of their time when it comes to selling their household goods.  Also, if you are planning to move in less than a month, your selling ship has probably sailed. Y0u have much more urgent things to attend to especially if you are moving into a smaller home. Selling takes time. Time to research the value of your items to price them; Time to photograph or transport items (either by car or by mail) to buying-sites; Time to respond to inquiries or be available to show prospective buyers your items if you plan to sell them locally. When your move is imminent — that is in less than 30 days — time is not what you have an abundance of and you need that time to plan your move, hire your movers,  downsize what you can, pack, settle your accounts, plan your travel, meet with realtors, bankers, loan officers, etc.  If you have the time, then use it wisely. If not consider hiring a professional organizer or move manager to help.

Focus on the items that you know have value – think vintage collectibles or luxury items that would appeal to someone who is looking for what you have.

Donate it!

If you decide to donate, don’t let finding the perfect recipient for each item get in the way of your generosity. Find charities that you can drop off items to easily and do a internet search for charities that do truck pick ups nearby of furniture or larger quantities of donated items.  Keep in mind that charities that do truck pick ups, like Salvation Army, may need as much as 3-4 weeks notice. They also have the discretion to refuse your items if they are not in usable condition. Be sure to have a Plan B if this happens such as arranging for a hauler or recycler who will dispose of your items responsibly.

In short, if you are moving or selling your home, and want to minimize your stress,  try not to let the small decisions get in the way of the big ones!

 

 

8 household items that can make you money

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The folks at EVERYTHING BUT THE HOUSE (EBTH) had this great slide show I wanted to share that shows 8 pretty common household items you may have that could earn you money. Keep them in mind next time you get on your next decluttering binge.

When your new roommate is Mom or Dad

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Big Happy Family. Parents with Children. Father, mother, children, grandpa, grandma

It’s common to see adult children moving back in to their parents’ home after college to save money.  But here’s a surprising fact:

14% of adults living in someone else’s household are actually the homeowner’s parents – and the trend seems to be on the rise, up from 7% in 1995, according to a Pew Research Study.

It’s one thing for a 22 year old that had roommates in college to move back in with their parents. It’s another thing to be 50, 60 or 70 years old and find yourself living with your adult children in their house, possibly with your grandchildren.

Aside from all the psychological and emotional aspects involved in sharing a home with relatives, there are also the practical and organizational considerations:

  • Will there be room for my belongings and what’s important to me?
  • Do I have a say in how things are organized in common areas such as the kitchen, family room or garage?
  • Will I have to let go of things I love?
  • Will I have storage areas I can call my own?
  • What rooms or storage areas will I need to share?
  • Will I feel safe?

Whether you are moving back in with your parents or your parents are moving in with you, planning for these questions ahead of time will make for a smoother transition and less stress when it comes time to blend the family. Here are a few strategies I recommend you do before you start packing.

  1. Make it safe. Clear all exit routes such as floors, stairs and hallways of possible trip hazards.
  2. Make it accessible. Provide sufficient space and clear access to bathrooms, kitchen and other common areas
  3. Make it private. Dedicate a room large enough for a bed (or beds) with at least one closet or storage armoire for clothing and personal items and natural light from an outside window. If this room was previously used for storage of other household items, find other homes for them or consider donating them if you haven’t used these items yourself for years.
  4. Make it welcoming. Create shared storage areas by making room inside your kitchen cabinets, pantry, utility closet, linen closet and garage. This may be the perfect time to do a little downsizing yourself!
  5. Set clear boundaries. If you know you don’t have room for everything your relatives own (and you probably wont) explain that you only have limited space. Help them decide what they really love, want and use. Let them know they have options but they probably won’t be able to keep everything!
  6. Make it possible. Offer to help with the actual physical move or downsizing if you can or consult with a professional organizer who specializes in residential move planning if you need ideas, hands-on help or guidance.

 

 

 

 

 

 

 

 

 

5 Great Reasons to Downsize Your Home

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Moving is expensive (and stressful)

The American Moving and Storage Association states that the average cost of an interstate household move is about $4,300 (distance of 1,225 miles) and the average cost of an intrastate move is about $2,300 (4 movers at $200 per hour). Both average moving costs are for 7,400 pounds. If you live in places like the San Francisco Bay Area, Los Angeles, New York or Washington DC, the costs are even higher. Since movers typically charge based on volume or weight, it follows that the less you have the less it will cost.  This is just one great reason to downsize your home.  Here are four more great reasons to downsize your home, moving or not:

  1. You can create new memories. If you are holding onto stuff because you are afraid you won’t remember it, it may be time to curate what you own so you can make room for new experiences. Try photographing the things you want to remember but can’t or don’t want to take with you. Have them made into something special such as a memory quilt or photo album. If it’s your work you want to remember, perhaps others want to remember it too. Look into making a legacy donation or creating a special archive in your name.
  2. You won’t burden your kids. The saddest and most difficult task most children face is the death of their parents. Imagine how much more painful it would be if, on top of their grief, they also have to face the daunting task of emptying your home. Make it easier for them and start downsizing now. Let them remember and know you from what was important to you, not from the stuff that wasn’t.
  3. You’ll realize what’s really important.  When you make room for what really matters in your life, you discover what’s important and what isn’t. Do you really need 50 plastic food storage containers? Do you really wear 500 pairs of shoes? Do you really use that collection of rusted auto parts? Someone can use them but you don’t have to.
  4. You get to start fresh. If relocating to a smaller home means downsizing the stuff in your existing home, try to imagine your life in your new home. Perhaps you’ll finally have the lifestyle you’ve been dreaming about. Gain the peace of mind that comes from knowing you’ve made great choices about your health and wellbeing. Instead of being burdened by your stuff, you’re having fun enjoying your life!

 

The One Resolution You Can Keep

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If you were born between 1947 and 1964, when it comes to organizing your home, my guess is you are less Do-It-Yourselfer and more Do-It-For-ME.

new_years_resolution_listGetting more organized is a common New Year’s resolution but I believe when people say they want to “get” organized, what they really mean, is they want to “be” organized.

When you live in your home for 20, 30 or more years, raising a family or even taking care of aging parents, you’re going to have a lot of stuff. This is just reality for most people in their 50s and 60s. This doesn’t mean you are a “hoarder” – you’re just like everyone else. It’s just the idea of finally dealing with all that accumulated stuff is overwhelming and chances are you would rather spend time doing something you enjoy and that’s worth a lot!

If you’re a homeowner in your 50s or 60s  at some point you’re going to  grapple with the problem of downsizing while you can still be involved. Otherwise you’ll end up passing off the problem to your children or even to friends if you don’t have family or family nearby.

Downsizing your home is like saving for retirement. The earlier you start thinking about it, the better.

I had a client tell me recently she didn’t know what she would do if she had to downsize her home by herself.  She recently decided to move to save money for her retirement. The problem was that in order to move to a new home she had to sell her current home but her realtor wouldn’t even consider listing it until she dealt with all her stuff.

It took a crew of four professional organizers and less than two weeks to get everything sorted, donated, hauled and ready for her movers, including long forgotten items belonging to her parents in her attic and garage. When we were almost done, she told her realtor she wanted to “test the waters” to see if there was any interest in her home. Much to her delight, it sold the first day it was listed.

If your roof needed replacing would you do it yourself?

Home improvement projects, especially large organizing projects that involve whole homes or highly cluttered spaces like garages, are no different in many ways from a home remodel. It takes a plan, skill and muscle. And whatever you do, don’t just move or store what you no longer want. This will only cost you more in moving or storage charges in the long run.

Get it done, done well and done fast and you can actually check this one off your list of New Year’s resolutions.