Seniors Downsizing

Why So Many Seniors Are Downsizing

Your retirement should be a time to relax, rest, and explore. You can take up some new hobbies and take those trips you’ve always wanted. While retirement gives you the time to do this and more, it also decreases your income. Even if you have great investments, your income as a senior will be lower.

To help with this, many seniors are deciding to downsize their home. This can improve your finances and even help later on if you start to have issues with mobility or vision. But what is it exactly?

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Downsizing For Seniors
Simply put, downsizing is when you sell your old, big house and move into one that’s smaller. This can be a house, condo, or even a retirement community. US News & World Report lists several reasons why downsizing for seniors works, such as:
⦁ Lowering your taxes by owning a smaller home or renting.
⦁ Saving money on the cost of living such as utility bills.
⦁ Spend less time mowing, shoveling snow, or cleaning unused rooms.
⦁ Move to where the neighborhood is more senior-friendly.

There are a lot of financial benefits, but it can also just make sense. If you have a house with rooms you never use, why keep paying for unused space? And as you grow older, stairs or a drafty house can go from annoying to dangerous.
How To Declutter
Finding the right home takes a while, but it can be exciting. It’s fun to look at new places to live. What’s not fun is sorting through everything you own. If you’re moving to a smaller home, you need to have fewer belongings. That means getting rid of some possessions.

That can be very hard, but Caring.com has some excellent tips to help declutter:

⦁ Start the process early and only tackle a room or area at a time.
⦁ Instead of a “maybe” pile, frame everything as “keep” or “donate”.
⦁ Focus on belongings you actually use (that means donating that old VCR collecting dust).

One way to help is to get some friends and family over to help. While this can take longer as everyone reminisces about what they uncover, but this can help you make good decisions about what to keep or donate.
Retirement Community Tips
Part of decluttering depends on where you’re moving into; the space limits what you can take with you. That’s very true if you’re downsizing into a retirement community. Although today’s communities make a lot of sense for seniors, you do have to think things through.

Closetbox.com has an excellent list of tips for downsizing into a retirement community, including:

⦁ Be realistic about what you can bring — and what you cannot.
⦁ Speak to the community to see if they have any rules about what you can store there.
⦁ Look to see if the retirement community has items you can borrow or rent to save space.
⦁ Keep organized, even when you move in. This can help you avoid buying things you already have.
Downsizing Could Be What You Need
Why are so many seniors downsizing? Because it gives you help when you need it. From lower costs to an easier time at home, moving into a smaller place brings you lots of benefits. Once you’ve decluttered and moved, you will have the support you need to really enjoy retirement.

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