Preparing to downsize your home
There are many reasons to consider downsizing your home, but how do you know when it’s the right time? For those 55 and older, it can mean easing maintenance burdens, preparing for mobility needs, or continuing a path toward financial freedom.
Whatever your reason for downsizing, this new chapter in life can be bittersweet. It typically means sorting through decades of belongings and leaving a home full of cherished memories. While the process can be overwhelming, downsizing ultimately allows you to live a simpler, more comfortable lifestyle that better fits your current and future needs.
How to know when it’s time to downsize
Downsizing doesn’t have an age restriction. Some may feel ready after retirement, while others choose to get a head start after the kids move out. The important thing is to consider how your current home fits your life and whether it will continue to meet your needs.
Some signs that it may be time to downsize include:
- You have too much space: Once the kids move out, extra bedrooms and other living spaces aren’t used as frequently.
- Home maintenance becomes a burden: House and yard work may take up too much time and energy.
- Mobility needs are becoming more important: Stairs, narrow hallways and small bathrooms make it more difficult to navigate now or in the future.
- You want more financial freedom: After years of homeownership, downsizing can allow you to cash in on your home’s equity for retirement, travel and other expenses.
- Explore your downsizing options: Consider the type of home, location and community that best fit the lifestyle you desire.
- Sort through your belongings: Start months in advance and do one room at a time. Organize items into keep, sell, donate and trash piles. Consider:
- Consignment shops
- Estate sales and auctions
- Donation centers
- House cleanout services
- Learn about available resources: You don’t have to do this alone. Consider hiring a move manager to plan, organize and coordinate your move. At Liz Moore & Associates, our agents can help make the transition easier by guiding you through selling your current home and finding the right place for your next chapter.
Where to start when downsizing
After making the decision to downsize, it can be difficult figuring out where to start. Finding a new home that fits your lifestyle needs, decluttering and packing up your belongings can take a toll physically, emotionally and financially.
Here are a few easy steps to help you get started:
- Explore your downsizing options: Consider the type of home, location and community that best fit the lifestyle you desire.
- Sort through your belongings: Start months in advance and do one room at a time. Organize items into keep, sell, donate and trash piles. Consider:
You don't have to do this alone. Consider hiring a move manager to plan, organize and coordinate your move. At Liz Moore & Associates, our agents can help make the transition easier by guiding you through selling your current home and finding the right place for your next chapter.
Ready to start planning? Download our free Downsizing Resource Guide for helpful information and guidance to help you navigate every step of the process.
Download a list of local communities and downsizing services in your area: