Downsizing in Retirement: Tips and Resources for Seniors
Downsizing — or moving in general — isn’t always easy as we grow older, but it’s oftentimes the best decision we can make for our bodies and wallets. Downsizing often allows us to cut back on housing expenses and enjoy the benefits of living in a smaller, more accessible home as we age — plus it frees up our schedules so we can spend less time on home maintenance and more time enjoying our favorite retirement hobbies and activities.
While making the decision to downsize isn’t always an easy one, these tips from the real estate experts at the Shrake Group will help you to find the perfect living space for your Golden Years — and ease the transition into your new home.
Get Ready to Sell Your Current Home
Saying goodbye to the home you know and love won’t be easy, but it’ll all be worth it once you’re enjoying less stress and fewer bills in your Golden Years.
● Research sale prices and housing trends in your area to get an idea of what you’ll be able to list your home for.
● Learn how to quickly and safely sell your home during the pandemic.
● Declutter your personal belongings and decide which items to toss, donate, pass down to family members, or move into storage.
Begin Your Housing Search
Once you’re ready to search for your new home, you’ll need to start by hiring an experienced real estate agent.
● Contact the Shrake Group real estate team to discuss your housing wants, needs, and budget.
● Familiarize yourself with the home buying process and learn about the steps you’ll need to take to apply for a mortgage.
● Find the best type of housing for your Golden Years, whether it’s a smaller single-family home, condo or townhome, or senior living community.
● Keep home modifications and accessibility in mind when searching for potential properties.
Plan Your Move
After finding the perfect home for your Golden Years, you’ll need to start planning your move.
● Use a senior moving checklist to plan a hassle-free move into your new home.
● Get free moving boxes from local recycling centers, schools, office buildings, or retailers.
● Manage downsizing stress, anxiety, and other challenging emotions.
● Try a new hobby or activity after settling into your new home!
As beneficial as downsizing can be, it isn’t always easy when we’ve spent a number of years in the same home. However, these tips and resources can help to ease the transition and take some of the stress and uncertainty out of downsizing in retirement. Before we know it, we’ll be enjoying the many benefits of downsizing and making the very most of our retirement years!
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