What is Downsizing?

Downsizing, in the real estate context, usually involves moving from a larger house into a smaller house. Not everyone’s downsizing process involves a move, though. And some downsizing moves aren’t actually to smaller houses. There are many forms of downsizing and reasons to do it. See if you can relate to any of the scenarios below and reach out if you could use some help getting started. 

Home Size

If you live in a larger home and your lifestyle no longer makes it practical to own a larger home, you might consider downsizing to a smaller one. For example, when you bought your home, you needed 4 bedrooms and 3 bathrooms, but now with only 1 or 2 people living in the home, that’s just overkill. It can get tiring to maintain all that extra unused space. It can also be expensive to keep it all in tip-top shape or to pay the utility bills to heat and cool unused rooms.

Home Configuration

I often hear how difficult navigating stairs can be as we age. You may currently have a home that is the perfect size for you, but you no longer feel comfortable with stairs as a part of your daily “exercise routine.” Your downsizing process might not include moving to a different home, but instead might be about finding a similarly-sized home that is configured in a way that feels safer for you. “Main level living” is a good option. Homes that accommodate this have at least 1 bedroom, full bathroom, kitchen/living room, and laundry on the main level with no-step or minimal step access from the front stoop or garage into the house.

Home Maintenance

Maybe the primary motivator for your downsizing process is having more free time to enjoy the people and activities you love the best. You’re just done with home maintenance like weeding gardens, mowing the lawn, and shoveling snow every winter. If this sounds familiar, your downsizing process might involve a move to a condo where someone is hired to do that maintenance. You might be considering selling your home and becoming a renter, where someone else will do all the hard stuff for you. Or maybe it’s just time to outsource some tasks to a professional so you don’t have to move. That would also be considered downsizing your workload! 

Home Expenses

As home prices have increased, so have property taxes. Property tax increases can lead to many long-time homeowners feeling a financial pinch. Downsizing can be a way to alleviate financial stress as property taxes for a less expensive home will be less than those for a home of a higher value.

Decluttering

Downsizing your worldly possessions (commonly known as “decluttering”) might just be all you’re after. There’s not always a need for a move when downsizing. Decluttering can help reduce stress and, let’s be honest, it can also help to save your future family relationships. You might also be able to do some good in the world by giving things you no longer need to others who can benefit from them. 

There is very little downside to downsizing and so much to be gained! Reach out if you would like some help getting started.