Call us Today (831) 316-1795

This Is Why Seniors Should Be Downsizing In Retirement

December 12, 2017 / BY Author

Retirement means you have to be careful about your spending. Even if you have solid investments and passive income, you can’t waste money like you used to.

That includes your old, big home. Having such a large house made sense years ago, but now, you’re probably wasting money. Plus, taking care of all that space starts to get annoying. Do you really want to mow that big yard or shovel that long driveway?

That’s why many seniors downsize in retirement. By moving into a smaller home, you can enjoy many benefits. You just need to know how to sort through your belongings and whether your new home should be in a retirement community.

Downsizing Helps With Money & Comfort

What kind of benefits are there to downsizing when you’re a senior? Most are related to either money or safety.

 

NewRetirement.com fully explains the financial incentives to downsizing. If you are paying a mortgage, a smaller place will have a lower payment each month. If you own your home outright, you can buy a smaller place and still have a nice nest egg left over. You’ll also reduce ongoing costs like utilities, taxes, and maintenance.

 

Downsizing isn’t just about money. A smaller home means you’ll spend less time keeping it clean and maintained. If you are starting to experience mobility issues or having trouble doing all the chores, your new home can be all on one level. And if your neighborhood has changed for the worse since you bought the place, you can pick a new home to match your lifestyle and needs.

Sorting Your Belongings

Now that you’ve found a new, smaller home, you’re going to need to downsize your belongings as well. Since your new place has less room, you need to sort through your possessions and get rid of some things.

 

American Senior Communities has some great advice for making this process as easy as possible:

  • Start early: This will take time as you reminisce about old belongings. Start as early as you can.
  • Give some possessions away: To help declutter your old house, give some of your possessions away to either family or charities.
  • Ask for help: Not only will friends or family help with the heavy or bulky items, they can speed things up for you.
  • Create a first-day box: Put everything you might need for your first day in your new home in one box, such as a checkbook, toiletries, paper towels, and the new lease/mortgage documents.

 

It can be tough deciding what to keep and what to give away, but Caring.com has two great tips for seniors.

  1. Don’t use a “maybe” pile. Classify everything as keeping or giving away.
  2. Use your new place as a guide. Think about the space available and what you plan to do there. Then get rid of anything that won’t fit.

Is A Retirement Community Worth It?

As you think about sorting and packing your belonging, you might be worried about getting through it all. That’s why you should consider downsizing into a retirement community. These have changed a lot over the years, and they offer a lot of benefits to seniors:

  • You won’t have to worry about yard work or maintenance.
  • You can be around people who understand what it’s like to be a senior.
  • There are other people and events for socializing.
  • You don’t have to cook, but you’ll be getting healthy, good-tasting food from local caterers.

Downsizing Could Be What You Need

Whether you go with a retirement community or not, you can benefit from downsizing as a senior. You can start to save money and be more comfortable, and you can finally get rid of all that clutter around your home. Downsizing makes a lot of sense for seniors, and it can be just what you need now that you’re retired.

 

Author: Michael Longsdon (ElderFreedom.net)

Tags : 

Leave a Reply

Your email address will not be published. Required fields are marked *

QUESTIONS? CALL US TODAY (831) 316-1795

Contact Us