How to Downsize The Right Way in Your Senior Years

This article is written by Jackie Waters.

As you enter your golden years, you’ll find that downsizing offers opportunities to dial down your lifestyle and finances, so you have fewer expenses and obligations—but more occasions for enjoyment. Presented below by Lucrum, here’s what you need to know about this amazing next step in your life, and how you can do it right.

Do Your Due Diligence

Like most changes worth doing, you need to start with good, old-fashioned research to make your downsizing journey a smooth one.

● If you’re still on the fence about downsizing, it’s a good idea to explore how it benefits you both financially and emotionally.
● It’s wise to consider all the factors, like at what age you should downsize, your medical and living needs, income, etc.
● You also want to learn all about the process of selling your old home and buying a new one, encompassing the basics of mortgages, home inspections, and more.

Explore Your Options

Leaving your old home and comfort zone is not the end of the world. In fact, it could just be the start of a brand-new lifestyle.

● There are actually more senior living options than you might realize at first.
● Aging in place in a more senior-friendly home is a great choice for many older adults, so start by researching home prices and features and how much you can afford to spend on a new home.
● You can use websites to research different statistics about the area, such as the median age, population, and the average household size to get a better feeling for the area.

Move Without a Hitch

Both the idea and act of moving are never pleasurable activities. But with sufficient preparation, adequate help, and a healthy mindset, you can at least ensure that yours is a painless one.

● No doubt, the hardest part of downsizing is scaling down your belongings, especially keepsakes and mementos.
● If there are any items you want to keep but can’t fit into your new home, rent a storage unit.
● It’s a good idea to have a downsizing checklist to help you stay on top of the many tasks involved.

Indeed, it can be safely said that downsizing is the logical next step for you at this juncture of your life. So get to know the nitty-gritty, as well choose the right option for you. The rest of your life is waiting!


By: Lucrum
March 10, 2022


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