More and more seniors are considering downsizing their homes. The level of maintenance, financial burden, and amount of extra space just isn’t worth it anymore at this point in their lives. Taking the weight off your shoulders can open the door to other experiences you haven’t had the opportunity to have. Smaller is not worse – less can mean more! However, this is no small decision, so consider this…
Change of Pace
After the children are grown and “leave the nest”, the house becomes empty. The bedrooms are bare, hallways don’t see the same foot traffic… the house feels still. Some of the extra space is simply not needed. Living within your needs will have you feeling comfortable at home without the sense that you’ve sacrificed the space.
If you’re moving from a large home to a townhome, you know you’ll have to get rid of some possessions. Consider what you can live without and determine whether or not it’ll fit in the new place. Most people don’t realize just how many possessions they have until they start organizing and preparing for a move. Go through your storage spaces and unused rooms well in advance to make the move easier.
Did someone say “garage sale”? This is easy money you could use to offset the cost of moving. Of course, keep your family heirlooms and sentimental possessions safe from being sold or lost in the move. Maybe you can get your family members to help you run it!
Be sure to not over-do it and go too small. This move should not feel like a backwards step in your lifestyle. Know your long-term needs and determine what’s right for you. Downsizing homes should satisfy all your financial, emotional, and physical needs.
Making the move could mean living easier. Home modifications are available to make life around your home simpler. Smart designs keep those in mind who have trouble reaching up high, have reduced mobility, or other common challenges.
Maintenance on a large home can hurt the wallet and your free time… not to mention your back! If you live in a townhome or condo development, you won’t have to worry about maintaining the exterior at all. Landscaping or snow removal is done regularly, so say goodbye to the burden of shovelling! Less square footage to heat? You can bet on lower utility bills!
Downsizing could make life easy.
Easy on the Wallet
There is so much emotion attached to a home that your family grew up in. So many cherished memories! This decision isn’t about giving those things up, it’s about giving yourself the ability to gain new experiences in the future.
As mentioned, larger homes can mean large bills. Downsizing can be attributed to more than just space – downsize your bills. The money you could be saving by making a change can mean more chances to travel, more chances to do activities with the family, and more chances to spoil the children and grandchildren!
Now, downsizing doesn’t guarantee you cost-savings. Is the new place move-in ready? There might be desirable upgrades or furnishing costs. Condo associations, as well as Homeowners associations, charge condo fees for maintenance. The cost of moving can be dependant on how much “stuff” you have. Keep your budget in mind and determine what you can afford. Having a forecasted financial plan will aid greatly in coming up with a proper budget.
Change of Scenery
Downsize into a community that has more to offer than just the space you live in. What conveniences and amenities would you prefer to live around? Condos or townhomes in newer areas are in walkable neighbourhoods with easy access to amenities that offer culture, restaurants and nightlife. This is a trend that we’ve seen where more seniors are moving from the suburbs to more lively, vibrant communities.
Consider whether or not you’ll be closer to work. Nobody likes a long commute. If your priorities are centered around health, consider the access to quality healthcare. Or if you want to travel, consider the ease of airport access.
Finding the right place to downsize could mean finding the right team for the job. Area and Building Managers are there for you and can make the process easier to understand so you can focus on the things that matter. Give yourself a break and consider downsizing. Just remember… less can mean more!