Downsizing to a smaller home has helped several people significantly reduce expenses, free themselves from overtaxing home maintenance, and start an exciting new chapter in their lives.
But admittedly, the move isn’t for everyone. If you’re weighing your options before making the decision to downsize, it’s natural to have unresolved qualms and questions about the process.
Perhaps you’re concerned about the psychological side of the equation, or the logistical end of actually moving everything to a smaller space and the overwhelming prospect of how to dispose of the rest.
To help coach you through the decision-making process, here are some questions to ask yourself. For each question, you will find a rationale for downsizing.
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Do You Want to Keep More of Your Retirement Income By Reducing Monthly Expenses?
Most retired people who’ve “taken the plunge” into downsizing cite finances as a primary motivator. It makes sense: moving to a smaller home can significantly reduce your monthly expenses. Everything from utilities to property taxes and home repairs can be more affordable when you shift to a smaller home.
You will have more disposable income at the end of a month for fun experiences like travel, lifestyle and hobbies by downsizing.
Does Home Maintenance Feel Overwhelming?
At best, maintaining a multi-level home with spare rooms and a backyard can be a chore. At worst, it can be physically (and financially) draining. It made sense to maintain a four-bedroom home when you had kids running around. But now that you’re an empty nester, does it make as much sense?
If home maintenance is starting to feel less like a labour of love – and more like plain labour – it might be time to consider options for a smaller footprint.
Are You Ever Overwhelmed by the Volume of Items in Your Home?
Crates of family memorabilia in the attic, clothing in the spare rooms that you haven’t worn in years, your adult kids’ toys and old sporting gear gathering dust in the basement, and more than one unlabelled banker’s box you haven’t opened in a decade. These items add up. And if you aren’t careful, they can tie you down by not knowing where to start.
Some downsizers worry about how they will possibly fit everything in their new home and are faced with the prospect of sorting and disposing of unwanted items. But with a professional downsizing service, the process is simple. When you downsize your home with NEATSPACES, the company will patiently, compassionately help you sort through belongings to sell, keep, donate or discard. Moreover, they will pack your belongings for the move, coordinate moving services, and unpack on the other side. It’s a convenient, turnkey way to start fresh.
Does Your Home Feel Unsafe? Or Might It Feel Unsafe in the Future?
For some downsizers, it isn’t finances or maintenance that tips the scale. It’s safety. Older multi-floor homes often feature tripping hazards, high cupboards, stairs and other accessibility barriers. And while you may feel safe there now, you might not should an unexpected medical condition arise causing your needs and abilities to change.
If you want to ensure that you can “age in place,” perhaps now is the time to consider an accessible, comfortable, smaller space, possibly a bungalow, condo or retirement suite.
These are just a few questions to ask yourself as you ponder the transition. As you consider these questions with loved ones, try to imagine the “pull factors” of moving to a new place: the new experiences, new friends and fresh start that comes with downsizing.