Are you a senior who’s tired of keeping up with the endless chores of maintaining a home? Or maybe you’re wondering if a smaller house, or even a condo or senior living center, would help you save money in retirement? Or maybe you’re a caregiver whose senior loved one is in this position. No matter what your situation is, there are lots of reasons to downsize. But even with all the benefits, we also know that downsizing can be overwhelming. Our goal is to demystify the process so that you or your loved one will feel less confused and more confident in the move you’re making.
Making the Right Choices
If you’re considering downsizing, you probably already have a few goals in mind. These resources will help you focus on exactly why you want to downsize and how to make the best choices to meet those goals.
● If you buy a smaller home, or even if you move into a senior living community that has amenities included, you may be able to save money and make your retirement savings last longer.
● If you’re buying a new home, look for features that will keep you safer as you age. This is especially important since fall prevention is such a serious concern for seniors.
● If you have concerns about safety or limited mobility, you may need a living arrangement that includes some care. Before deciding on a senior living option, make sure you’re aware of the differences between assisted living and independent living for seniors.
● Connect with Terry Alexander from One Stop Realty for all your Middle Tennessee home-buying needs.
Knowing When the Time Is Right
Timing is everything when it comes to finding the living solution that’s right for you. If you aren’t sure how to know when it’s time to downsize, these are a few key points to consider.
● Some seniors wait until they have to find a safer living situation, whereas others choose to downsize early in retirement.
● If you’re living on your own, or you’re a caregiver who can’t provide everything your loved one needs, consider whether the timing may be right for assisted living.
● If you plan on selling your home during the COVID-19 pandemic, your best bet is to use digital tools like virtual tours, 3D tours, and video chats.
● The right time to downsize is also impacted by financial issues, such as whether you can afford to move and what you can expect to make from selling your home.
● Be sure to review your budget, and use an appraisal calculator to give you an idea of your home’s worth.
Packing and Moving
When the timing is right and you’ve found your new home, a little planning can go a long way toward making the next step (actually moving!) go a whole lot smoother.
● Before you start decluttering, experts at Business Insider recommend taking pictures of each room in your home. Then look at those pictures and notice what draws your attention the most; these are the most important items to bring with you!
● A smart way to make room for photos and memorabilia, even in a small space, is to organize them before you move.
● When you’re deciding on furniture pieces to keep, look for furniture that provides you with a maximum amount of storage without taking up much space.
● Keep in mind that hiring professional movers will typically cost you between $679 and $1,859.
It isn’t easy to sort through years worth of possessions, so don’t try to rush this step. Take your time and set a goal to keep items that are both practical and the most meaningful to you. With the right strategy and these tips, we’re confident that you’ll be enjoying your new place before you know it!
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