By Michael Longsdon
Of all the housing trends out there, one of the healthiest is senior downsizing. Even though it’s a popular and positive concept, actually doing it can be a daunting prospect. Retirement & Estate Advisors & Professionals (REAP) invites you to read on for information on why it’s such a good idea, and how to make it happen so you can thrive.
Why it’s so healthy
Paring down your living environment can be just the ticket to living a fuller, healthier life in your golden years, all the way around. It can benefit you financially, emotionally, and physically. Downsizing can mean upgrading your lifestyle since you’ll have less financial and maintenance responsibilities.
Alleviate finances
Downsizing is the perfect opportunity to set yourself up for financial freedom in your golden years. A smaller mortgage, lower utilities, reduced insurance premiums, and lower property taxes can really add up! And if your current residence is paid for, you might be able to purchase your next home outright and plug more money into your savings. It’s a win all the way around! Review local real estate prices to get an idea of how much you’ll need to spend on a new home.
Another idea is to rent out your current home for extra income. If your home is located near a natural setting (e.g., in the mountains, by a lake or beach) or major metropolitan area, it may be in a desirable location for tourists. If you go this route, you’ll have to manage your rental on your own or hire a management company for the job. A property manager can help market your home, screen potential tenants, and have an on-site support team available 24/7. This way your home will be in good hands, and you won’t have to worry about the daily responsibilities of managing your property.
Envision senior-friendly
Looking for the right property can be both challenging and fun. As far as aspects to consider, seniors often benefit from a single story home design, since it allows them to avoid stairs. Also think about low-maintenance options, such as siding, flooring, and landscaping. Similarly, think through the features you could add to a house to make it more senior-friendly, like rocker light switches, lever door handles, night lights, and grab bars.
To help you with your housing search, consider taking a checklist along as you house hunt. Having notes to make comparisons will help you narrow your selection.
Dive into your clutter
If you have lived in the same home for many years, there is a good chance you have an abundance of items surrounding you. Items you saved for a rainy day, belongings that evoke memories, even things you might not remember owning. Regardless of how it got there, you might be surprised to learn all that clutter can hold you back from living a fuller, happier life. As Real Simple explains, clutter can make you feel stressed and anxious, and people surrounded by clutter can experience higher levels of cortisol as a result.
On top of all that, clutter can really complicate life for seniors. If you have piles around, excess furniture, and disorganized belongings, it can equate to tripping hazards, and falls can be especially dangerous for older adults.
When it comes to decluttering, some experts suggest bringing in an objective friend to help. Having someone there to both lend a hand and help evaluate items can make a big difference in the process, and besides, it’s more fun!
As far as what to do with the items you’re ready to get rid of, there are plenty of outlets. You can have a yard sale, donate your things, give them to friends and family members, or recycle them. Giving those items a new life elsewhere will make you feel that much better about unloading them!
Plan your move
With less belongings to move and an ideal home picked out, you’ll be ready to call the movers. Reliable moving companies will send someone to view your belongings and then provide you with a written estimate. Point out your valuables and breakables, and note better movers will go to lengths to protect your property, using furniture pads, straps, and so forth. Some will even do the packing for you, which can save you a lot of work.
Moving into a smaller home can sound pretty intimidating, but with a little planning, it’ll be great! You can look forward to less financial strain, less house to tend, and less stress. In the short term it’s some work, but downsizing is a healthy choice for your golden years.
Photo credit: Pixabay
