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At one time, you may have wanted a large home with plenty of space and modern conveniences, but as time has marched on, you now recognize the ease of living that a smaller home could bring. Downsizing before retirement allows for a simpler lifestyle and eliminates the expense that comes with owning a larger home. And when it comes to the size of your home, less can often be more.
If you’re contemplating a downsize in the near future, here are some tips you need to know.
Getting Organized
Seniors that live in large houses often use only a few of the rooms in the house, leaving the rest as storage space to collect clutter. Having a smaller home can lead to the decluttering of your living space, and as studies have revealed, the presence of a lot of clutter negatively affects mental well-being. Conversely, getting rid of excess possessions has a very positive effect on mood and self-esteem.
Out with the Old
Clearing your home of unwanted possessions can increase the enjoyment of living in that space and reduce stress. Removing old furniture that hasn’t been used in years and outdated electronic equipment creates additional living space. It also offers a new lease on life once the burden of all your unwanted possessions has been eliminated.
A Healthier Lifestyle
Downsizing can lead to increased opportunities for exercise. Living in a suburban community can leave seniors feeling isolated. A move to a condominium in an urban environment can eliminate the need to drive, as everything is within walking distance of your new home.
Financial Benefits
You may have a good amount of equity in your home, depending on how long you’ve lived there. Buying a smaller and more affordable home will allow you to profit from the sale of your older, larger home. This can assist in saving money for the future, rather than spending everything on the upkeep of your home. And with more money to save and invest, you will have greater financial freedom.
Improved Quality of Life
Not only can downsizing save you money, but it can also dramatically improve your quality of life in your retirement years. You will be able to relocate to a home much closer to your family, allowing you to spend quality time with them. When choosing your new home’s location, remember to consider climate, proximity to your family, hospitals in the area, the crime rate, and the presence of shopping and entertainment venues.
If you’re not retired yet and are still working from home, remember to still prioritize having enough space for an office so you can work comfortably and productively. This doesn’t have to be a large space, but as ZenBusiness details, it should be outfitted with the right furniture, wiring, and accessories.
Downsizing Tips
- Allow plenty of time for the downsizing process
- Start the process in a room that holds little emotional attachment
- Do away with duplicates
- Sell your discarded items on Craigslist, eBay, or in yard sales
If you are in need of a moving company, simply search online for local movers in your area, and then read the reviews posted online. Meet with the company beforehand and insist on a written quote. A legitimate moving company will also need to inspect your home before they are able to calculate the cost of moving your household.
A Positive Move
Downsizing can be a financially lucrative and emancipating experience. Purchasing a smaller and less expensive home will save you a lot of money in the long run and leave you free to move to any community or location you choose, free of the constraints of maintaining a large, high-maintenance home.
