There comes a time when living in your larger, family home no longer makes sense for lifestyle, financial, situational, and health reasons. You may have had a larger home to fit your family’s needs, but once your kids move out, the reasons for staying in your family home begin to lessen and the reasons to downsize begin to stack up.
After living in your larger, family home for years, it may be difficult to realize when you should downsize: Here are some signs that it may be time:
Retirement
Retirement is one of the most common reasons people look into downsizing. Moving from the workforce to retirement is not only a lifestyle adjustment but also a financial adjustment. Downsizing is a way to save on unnecessary expenses that come with having a larger home. Not to mention, the less you have to spend on your home expenses, the more you can spend on things you enjoy- which is what retirement is all about.
Unnecessary Space
The rooms that used to be occupied but your kids as they grew up are empty. The basement is barely used. You rarely ever step foot into some spaces in your house. In general, you may just not need all the excess space in your house now that less people live in your home. More space means more time and effort spent on cleaning, more money spent on heating and cooling large spaces, more money spent on maintenance, etc.
If you simply do not need all the space in your home, it may be time to downsize.
Overwhelmed with Maintenance
As people get older, it becomes increasingly difficult for them to maintain their home and property. Whether it is things like making sure the lawn is mowed, taking care of basement flooding, or replacing light bulbs in high up places, maintenance can be physically exhausting. Additionally, maintenance can be dangerous for people with less balance and strength than they used to have.
Downsizing can allow you to have less areas of the house to worry about, as well as if you move into a senior community, you will have people to help you with maintenance issues.
Health Challenges
Are you having a hard time getting around your house? Sometimes larger homes can become a physical strain as people age. Many begin to have issues with getting up and down stairs, so downsizing can allow you to avoid taking stairs overall.