Downsizing: A Senior’s Guide
Downsizing isn’t the best choice for all seniors, but it could be right for you if you’re looking to reduce your monthly expenses and cut back on time spent maintaining your home. And while a lot of time, effort, and planning go into downsizing a home and planning a move, these tips will help to take some of the hassle out of the process.
Making the decision to downsize in retirement is just the start. You’ll also need to find the right type of housing for your Golden Years.
- As one option, you could obtain a mortgage for buying a smaller home, condo, or townhome. However, you’ll need to meet mortgage qualification requirements.
- Other senior housing options include independent or assisted living, memory care, and skilled nursing facilities.
- To simplify your housing search, check out seven tips from Inc. You’ll learn how to find the perfect home for your senior years, whether that means buying or renting.
Sell Your Home
Once you’ve made the decision to downsize in retirement, you’ll need to start prepping your current home for sale.
- Start by using an appraisal calculator to estimate your home’s worth.
- Choose an experienced listing agent to sell your home.
- To prepare your home for the housing market, be sure to clean, declutter, and depersonalize your house — and make any necessary repairs or improvements.
- Letting go of belongings can be a challenge, but downsizing is the perfect opportunity to get rid of unwanted clothing, kitchen gadgets, furniture, and collectibles.
Plan Your Move
After finding a new place to live and receiving an offer on your home, you’ll be ready to plan the move into your new house, apartment, condo, or senior living community.
- Consider the benefits of hiring a senior move manager, especially if you need help decluttering your belongings and deciding which items to move into your new home.
- Use a moving checklist in the weeks leading up to your move. This checklist will help you to secure a moving company, change your address, pack personal belongings, and purchase moving supplies.
- Visit com to learn about the residential moving services offered at Express Moving and Storage. Downsizing and organizing services are available, as well as other services such as junk removal, house cleaning, packing, loading, moving, and unloading.
- Cope with difficult emotions such as sadness, grief, and anxiety. As beneficial as downsizing can be, it’s normal to experience challenging emotions and feelings as you make the move into your new home.
Downsizing can make your Golden Years a lot less stressful and much more affordable, but it’s important to allow yourself plenty of time to de-clutter, clean, and organize your current home. And while downsizing is oftentimes a lengthy and emotional process, these tips and resources will help to make it as simple and stress-free as possible!