READY TO DOWNSIZE?

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• Cut costs. Most retirees are on a limited or fixed income, but there are still incidentals that are hard to predict, like healthcare costs, home repairs, and travel. Reducing your monthly expenses by moving into a smaller, less expensive space saves on mortgage payments, home insurance, and property taxes. It can also mean lower utility and repair bills.
• Simplify your lifestyle. The less you have, the less you have to maintain. Your grandkids may love your pool and sprawling lawn, but it's a lot to take care of as you get older.
• Logistics. Things like stairs, multiple levels, outdated bathrooms, or long driveways and walkways become more dangerous as we age. Moving to a one-floor space that's easy to access and navigate can help you age in place longer.
• Family. You might move later in life to be closer to your children, grandchildren, and other relatives who can help you age in place.
• Medical needs. Seniors with chronic conditions or needing more frequent medical care may need to relocate to be near their doctor or an Adult Day Care.  Or, they might need to move into a space that can accommodate specific medical equipment.
• Better weather. One study shows that 25 percent of older adults plan to move to a warmer climate. Just don't forget to pack the sunscreen! 

• Do you have unused rooms?
• Can you afford to stay in your current home for five, 10, or 20 more years?
• Is your yard easy to maintain?
• Do you feel isolated?
• Do you have too much stuff to manage?
• Do you have a lot of equity in your home?

If you answered Yes to any of these questions, Downsizing may be your best option.  Reach out to us for how to plan for Downsizing. 

You can always chip away at paring down your possessions over time. We'd recommend it to avoid getting burnt out or overwhelmed. To downsize efficiently for a planned move, you need to make some decisions first.

1. Plan early. Give yourself enough time to make an organized, informed plan. Some people start the “where will I move?” decision process more than a year in advance. It's also easier to adjust when you've had a while to get used to the idea. Having to rush into a relocation decision or go through your possessions at the last minute only adds stress.
2. Decide where you'll move. What and how you downsize depends significantly on your new home's location, size, and setup. For example, facilities and apartments have far less space than a detached house but may take less time to secure and move into than a single-family home, co-op, or condo. 
3. Set goals and a timeline. When do you want or need to move? If you're going out of state, trucks sometimes need to load a few weeks before your move-in date. Work back from that date, considering the time you need to downsize and pack, as well as time for the family if you'll be “gifting” any possessions or hosting a garage sale.