What is downsizing? Why should I consider it?

As we get older, many of us realize that the large family home we once loved might not be the best option for us anymore. The idea of downsizing is becoming more and more popular, especially among older adults who want to enjoy their golden years in a more manageable and stress-free environment.

Here are the top reasons why you should consider downsizing your home at wisdom age:

1. Reduced maintenance and upkeep costs.

As we age, maintaining a large home can become exhausting and expensive. Downsizing your home can help reduce maintenance and upkeep costs, giving you more time and money to enjoy your retirement.

2. Simplified living.

When you downsize, you’re forced to declutter and get rid of items you no longer need or use. This can help simplify your life, reduce stress and improve your quality of life. * Bonus tip: This also allows you to really narrow down why things are important and make notes for generations to come.

3. More manageable space.

A smaller home means less space to maintain, making it easier for you to keep it clean and organized. This reduced workload can lead to more free time and less stress.

4. Accessible design.

Downsizing can give you the opportunity to design a home that is more accessible and better-suited to your needs as you age. Features such as low-pile carpet, lever-style door handles and grab bars in bathrooms can make day-to-day living easier and more comfortable. No stairs is, let’s face it, nicer no matter your age.

5. Financial benefits.

Downsizing to a smaller home can provide significant financial benefits, such as reducing your mortgage payments, property taxes, utility bills, and insurance costs.

If you’re considering downsizing, here are some tips to help make the process easier:

1. Start early.

Downsizing can be a daunting task, so it’s important to start early and give yourself plenty of time to prepare.

2. Review your belongings.

Take inventory of your belongings and decide what to keep, donate, sell, or throw away. Consider using a professional estate sale planner or estate liquidator to help you organize your belongings and manage the downsizing process.

3. Choose your new home carefully.

When choosing your new home, consider factors such as location, accessibility, and safety. Make sure your new home accommodates your current and future needs.

4. Seek professional guidance.

Consult with financial advisors, real estate agents, and tax professionals to ensure you’re making a sound financial decision and that you’re taking advantage of any applicable tax benefits. * Bonus Tip: I can sit down with you and make a plan years in advance even so you have a plan when life throws that giant wrench at you.

In short, downsizing your home at wisdom ages can be a wise decision that can improve your quality of life, reduce your stress and lower your expenses. Take time to carefully plan the downsizing process and seek professional guidance to ensure a smooth transition to your new home.

-Tricia Weathers,

Better Homes and Gardens Real Estate The Good Life Group

Senior Real Estate Specialist

Kindness is free but often overlooked.