Downsizing vs. Rightsizing
When you hear the word “downsizing,” I bet you instantly think of reducing clutter. You probably also think about reducing the size of your living space. Most people when downsizing will reduce clutter but not everyone will move to a smaller home. If you’re uncomfortable with the term “downsizing” for that reason, maybe consider calling it “rightsizing” instead. Here’s what rightsizing could look like for you.
Rightsize your home layout
Many people in the downsizing phase of life will want to increase the safety and functionality of their home but might not want to move to a place with less space. This is “rightsizing.” Need an example? Rightsize your 2500 square foot, 2-story home with laundry in the basement to a 2500 square foot, 1-story home with main level laundry and main level living.
Maybe you like your home’s square footage but you don’t need a 5-bedroom home and instead would like something with the same amount of space but more room to entertain. Consider purchasing something else with a similar square footage to your current home and focus on getting more space in the living room/kitchen/dining room area.
Rightsize your monthly payments
Relocating to a different county or municipality could help you get the same amount of house for less money (lower prices, lower taxes, etc). If you live in a larger city or county, consider moving to the surrounding areas for potentially lower expenses.
Rightsize your maintenance
Your large yard and driveway were just right for you when your kids were younger, but now it’s just getting old to mow the lawns. Buy a similarly-sized home on a smaller lot so you can spend less time outside. Or rightsize your maintenance by paying someone else to do this work for you, if “rightsizing your monthly payments” isn’t a priority!
I know “downsizing” and “rightsizing” are just words. You may be surprised what a simple reframe does for you. If you’ve been held back by the word “downsizing,” swap it out for “rightsizing” and see if it helps your motivation to continue in the process.
Most importantly, though, there are no rules. You want a bigger house? No problem. Smaller house? That’s fine, too. Think it would be fun to live on a cruise boat year round? Why not?! You only live once! Make this life your own and rightsize your living!
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