When is a good time to downsize your home?
It can be difficult to move from a larger home to a smaller one. You have become used to the space, you enjoy the openness and you have grown to love it and have fond memories there of times spent with loved ones.
However, there are times when you may not have a choice, especially if you have grown older, the children have left the house and your health is not be as good as it used to be. If you are struggling with this decision, here are seven signs you might need to start thinking about downsizing to a smaller home.
1: You Find it Difficult to Get Around
Mobility problems are the norm as you grow older. If you are starting to find it difficult to get up and down the stairs or even to get from room to room, it’s definitely a sign that you need to move to a one level property. This will make your life much easier and prevent you from injuring yourself.
2: You Find it Difficult to Find Things
People who have difficulty locating things in the home often have way too many items that they no longer need. If your home is cluttered with things that you no longer use it’s a sign that you don’t really need as much space as you think you do.
3: You Feel Lonely
Once your children move out of home or your spouse has passed away, loneliness can set in. Relocating to a retirement community isn’t going to replace family but it will provide you with a new network of acquaintances to revive your social life. It is also a great way of downsizing your home with style.
4: You Are Struggling Financially
If your bills and mortgage payments are creating financial hardship now that you have retired, downsizing is probably a wise idea. Selling your larger home and moving to a smaller one will provide you with some additional cash and relieve you of your former financial burden.
5: Too Much Maintenance
It requires a lot of work to maintain a larger home. Whether it's general chores, mowing the lawn, or repairing the property, the upkeep of a large home can become exhausting.
The majority of people can’t afford to hire a maintenance man and it can become a burden to keep asking family and friends for assistance. Therefore, downsizing might be a good idea.
6: You’ve Retired
Downsizing your home for retirement is a motivating factor for many older people. There is often a need to cut down on annual expenses to make sure your money lasts.
7. Unused Rooms
Do you have rooms in your home that are not being used? Rooms where the children used to sleep? If you are continuously walking into rooms that do nothing but collect dust, you should consider downsizing. Unused rooms are costly.
Moving to a smaller home means you don’t use as much space, spend less money and consume less energy.