Is Downsizing Your Home the Right Move for You?

Retirement marks a new chapter in our lives. It signifies freedom and represents the perfect time to pursue our passions. As we approach our golden years, we tend to focus more on our living habits and expenses, exploring ways to optimize our lifestyle.

In recent years, a method has gained popularity, and we will discuss it in this article. Have you heard about downsizing? We will examine the pros and cons of starting anew and whether this change fits our lives.

If you are like me and have been in the same home for years, you might find it challenging to think about moving elsewhere. However, retirement encourages us to see the bigger picture. It feels like a challenge. After a lifetime of work, we must quickly learn to adapt to a fixed income. Our home may be too large and expensive for our golden years, while moving could prove to be a smarter option.

Relocating to a smaller home could also involve moving to a different city or state. Be sure to consider your needs and reassess your expectations for retirement. Read on as we consider some pros and cons.

5 Advantages and Disadvantages of Downsizing in Retirement

1. Financial considerations

Downsizing can significantly reduce your property taxes, maintenance costs, and utility bills. Sounds great, right? Well, just think about it for a second. All those savings can be redirected to your other pursuits. You can travel more, start new hobbies, or even secure your finances in case of an emergency.

However, make sure to consider every detail involved in the process. Selling your home and buying a new one is not as easy as it seems. Consider the associated costs, as well as any potential changes in redecoration and living expenses.

2. Decluttering

Are you feeling overwhelmed by all the things you kept over the years? Then, it might be time for a change. Downsizing offers you the possibility to declutter, leading to a more organized and stress-free living environment.

On the other side, keep in mind that getting rid of the belongings you accumulated over the years can be quite challenging.

3. Lifestyle

The best part about a small home is that it requires less upkeep, so that retirees can enjoy more free time. All the time you spend cleaning the house and keeping up with all the tasks can be used to pursue new hobbies or even spend more time with loved ones.

Retirement should be the perfect time to relax and simply enjoy life, so having to maintain a huge house can become overwhelming. Whether we like to admit it or not, we are getting older, and the tasks that seemed easy a few years ago can now be difficult to handle.

However, there are also some disadvantages. For example, smaller living spaces can also mean fewer rooms. If you have a big family, this might turn into a problem, especially for the times when you’re hosting guests or engaging in activities with your grandkids that require more space.

Before you make a decision, consider whether a smaller space will meet all your needs.

4. New opportunities

Downsizing also offers you the chance to move into a different city and shift to a new chapter of your life. When you consider moving to a smaller home, you are open to new experiences and opportunities, such as exploring new neighborhoods and making new friends. Seniors tend to feel the need for a change, so sometimes downsizing can feel like a breath of fresh air.

Exploring new places and discovering new fun activities can significantly boost retirees’ mood and energy levels. Starting new hobbies and making new friends as a retiree is a great way to stay socially active and not isolate yourself. After a life of hard work and millions of interactions, many seniors feel the need to spend some time alone, just for themselves. That’s not a healthy option. You need to stay active and keep your mind sharp.

New opportunities are a great way to boost your energy levels, but before deciding to move, make sure to also consider the potential challenges of adjusting to a new living environment.

5. Financial implications

Are you worried about your financial future? If so, downsizing might be a great way to save some cash. Moving to a smaller home can provide extra funds for your retirement.

However, if you are uncertain about the best move, it would be wise to consult a specialist. A financial expert could guide you on the most beneficial choice and ensure that your decision aligns with your overall retirement strategy.

Moving to a smaller house might seem straightforward, but it often involves many unexpected expenses. You’ll need a considerable amount of money to make the transition as smooth as possible.

Before downsizing, there are key factors you should consider. Weigh the benefits and drawbacks to make an informed decision based on your situation. For some, downsizing may lead to an optimized retirement lifestyle, while for others it can represent overwhelming challenges.

Are You Looking for a Simplified Life?

Even though downsizing should mean transitioning to a simpler life, the actual process of moving to a smaller place is far from simple. It involves serious preparations, finances, and, most importantly, patience. It’s not a move that can be accomplished quickly; it requires time and considerable resources. So, before embarking on this journey, consider whether you’re mentally and financially prepared.

By far, one of the hardest decisions you’ll face when moving out of your home is what to bring with you. We often don’t realize it, but our homes are filled with things and objects we deeply care about. Therefore, having to leave some of them behind can be quite challenging, especially when it comes to items of high emotional value.

Deciding what to toss is difficult, but so can be the storage in a smaller home. Continue reading and understand the importance of decluttering. If you’re struggling and need a little bit of guidance, you’ll also find some useful decluttering tips. Are you ready to free up your space? Here’s what to do!

Here Are Some Creative Decluttering Tips

• Your home is not a storage unit

You don’t need to store everything! We tend to keep everything, just in case… but, in reality, it comes at the expense of living in an empty, breathable space. Make sure to think twice before you store those old things that no longer hold value.

Having a breathable and clean space is essential. A well-organized home can significantly boost your productivity level, improving your overall mood. So, understand that your home isn’t and shouldn’t become a storage unit.

• Permit yourself to shop again

When you store everything, you are forced to think twice before purchasing any new items just because of the limited storage space you have.

Just imagine going shopping and purchasing anything you want, without having the constant thoughts about where you’re going to place all your things.

• Try the 10% method

Have you ever heard about the 10% method? This is, by far, one of the best I’ve tried. So, if you are having a hard time letting go of what you own, use this method for every group of items you want to declutter. For example, your T-shirts. Put them all out into one space and then make it a goal to reduce the total number by 10%. Sounds difficult? Trust me, it’s not.

You’ll most likely find out that you don’t use most of the items, so by using this method, it will be easier for you to get rid of them.

• Remember that you won’t start liking something you never liked

I know, it’s difficult to admit, but trust me when I say that I got rid of a lot of things and I don’t regret any of my choices. The solution is simpler than you imagine: Don’t you like it? Let it go. You’re never going to suddenly start liking some things you haven’t touched for years.

Someone, somewhere, surely needs that clothing item more than you do.

Another thing you need to consider is that you’ll have less space to work with, but don’t worry, because I’ve got you covered. I am about to share with you plenty of storage solutions for small spaces that you can try when downsizing. Are you curious to find out more? Read on. 

9 Clever Storage Solutions for Small Spaces

1. Storage beds

Living in a small home means that you can never waste precious space! So, make sure to opt for a storage bed because they typically come with four or more drawers attached to the bedframe. Trust me, they make a huge difference in small spaces. I recently bought one of these and I was truly impressed by how many things I was able to store. I freed up a lot of space and made my bedroom look bigger. I can’t recommend these types of beds enough.

2. Shelving above toilets

Small toilets can be a little annoying. Nothing is worse than a tiny bathroom with too many toiletries stored under the vanity. So, if you want to keep your bathroom as fresh-looking as possible, I suggest you add shelving above toilets. These types of shelves can be found literally everywhere. Choose one that works best for your needs, and you’ll see how quickly you’ll free up floor space in the bathroom, as well as a lot of shelf space inside your vanity.

Sounds exciting? This trick is very affordable and will basically change the whole look of your bathroom. It works best for small spaces.

3. Drawer organizers

Can we all admit that drawer organizers are simply life-changers? They are the secret weapon to keep the mess in the drawers under control. These organizers will help you save a lot of space by allowing you to move things more easily.

The best part about these drawer organizers is that they can be used for everything! You can store your makeup, your office supplies, or your kitchen utensils. Get creative and use them in places that lack space.

4. Stagger shelves

Keep in mind that the famous boxy shelves can make a small room feel even smaller than it is. So, try to look for ladder-style pieces. These types of shelves, narrowed toward the top, look great and will help lighten a room’s atmosphere.

Depending on the model you prefer, you can provide clever and useful storage for items in various sizes. One of the platforms I frequently use for inspiration is called Pinterest, and I definitely recommend it.

5. Scale down shelves

This specific type of shelf is more common than other models and can offer a lot of room for places where large furniture doesn’t fit. I recommend using these in tiny spaces, such as bathrooms or pantries.

This model can be easily found in many shops, but I purchased mine from Amazon. I love the fact that it has wheels and I can easily move it. Another thing I find useful is the material because being made of steel means that each shelf holds up to 300 lbs.

6. Clear the floor

Clutter can feel overwhelming, and it represents a constant battle for most retirees living in small homes. Try to keep the space as clean as possible and remove all the objects you don’t use from the floor.

Try storing your things in small cubes or rectangular shelf units on the wall. This way, you’ll be able to clear the floor. The small cubes can be with ot without doors, depending on how much clearance you need around these units.

All these wall items can be extremely helpful for depositing things you don’t use every day.

7. Ottomans

Ottomans are great additions because they can double as storage bins. So, when you decorate the living room, make sure to opt for an ottoman that will let you benefit from some extra storage space. Some of the most common options include a bench, a trunk with a lid, or a proud. In these types of ottomans, you can store a lot of things, such as blankets, extra pillows, or even baby toys.

8. Use vertical storage

Have you thought about using vertical space before? This is one of the most useful tricks when it comes to small homes. You can start using behind-the-door storage, and you’ll see how rapidly you’ll free up some space.

The precious square feet can be put to good use, storing items that would otherwise clutter up rooms.

9. Research helpful add-ons

Add-ons changed my life. I discovered them a few years ago, and since then, I haven’t stopped using them. Add-ons turned out to be some of the most clever additions when it comes to storage.

These are perfectly designed for small spaces and can immediately solve a variety of storage woes. A great advantage is that many of them work incredibly well in keeping clutter at bay. One of the best examples I can offer you is the hairdryer holder that was very easy to mount inside the cabinet door of my bathroom.

The Bottom Line

Do you want to boost your savings? Then, downsizing is definitely one of the best ideas. In your golden years, you won’t really need a lot of space. Whether you like it or not, health issues will constantly appear, and your life will slow down. Taking care of a big home is not an easy job. So why not take advantage of your mobility (until you have it) and change your life for the better?

Moving will offer you the chance to meet new people, start a new life, and most importantly, rediscover yourself. Oh, and don’t underestimate the savings you can boost once you make the move. If you consider moving to another state, the benefits could be bigger than you imagine. So, I advise you to do your research and decide what’s best for your golden years.

Just remember that there’s no reason for you to be afraid of anything. No pain, no gain. Even though it’s hard, you have to get rid of something to evolve. So, be courageous enough to make the best move as a retiree.

Before leaving, here’s today’s song pick: “Take It Easy” by Eagles – Light-hearted and relaxing, great for easing into a simpler life.

Also, here’s another article you should read: 6 Hobbies That Turn Into Income for Retirees (Yes, Really!)