How to downsize your home is one of the top questions we get asked from clients approaching retirement age. It is truly a unique transaction, as it typically involves both buying and selling a house. After years of homeownership, the very idea of moving can seem surreal. It’s exciting, because a new chapter in your life is beginning. But it’s also normal to feel conflicted since you have so many memories and emotions attached to your home. For seniors downsizing, it can feel even more overwhelming when faced with a seemingly never-ending to-do list. In this post, we’ll share a few of our top downsizing tips your home as easily as possible.
Did you know that helping seniors downsize and move is one of our specialized services? Whatever your situation, we are here to help streamline your entire transition.
Decluttering Tips for Seniors
Letting go of the emotional connection is the first, and often most difficult step. This downsizing tip is to start the process of downsizing with decluttering, the most challenging process of all. Everyone tends to gather a lot of personal belongings and knick-knacks over the years, each one with a story and a fond memory attached to it.
The longer you have lived in your home, the more cherished items you have. Do you keep them or let them go? When moving to a smaller space, it’s not always possible to take it all with you.
Detaching from these feelings is easier said than done. It might help to keep this underlying principle in mind: hold onto the memory, dispose of the thing. If you’re struggling, bringing in a trusted friend or family member can help with downsizing.
You can talk through your thoughts and emotions, and this alone is often enough to get back on track. Otherwise, one downsizing tip is to find someone in your circle who will cherish your keepsakes as much as you do can help you let go.
Navigating today’s market can be particularly challenging for older clients. Fortunately, we have plenty of resources to help:
- How Seniors Can Navigate an Ever-Changing Real Estate Market
- Why Work with an SRES® Agent as a Senior?
- A Practical Guide To Downsizing
Plan Early and Plug Away
Decluttering and preparing a house for the market is often too much for one person or even a couple to handle in a short period of time. One of our top downsizing tips is to start early and chip away at it so you never feel overwhelmed.
- Begin by gathering some boxes to sort through everything. Label each with “keep,” “donate,” and “discard.”
- Take one drawer, one closet, and one room at a time. Once everything starts to look clean and organized, you may be energized to keep going.
- Stay the course no matter what. A clean, well-organized house will be more appealing to potential buyers, which could lead to a higher price.
Remember that there is an alternative to doing it all yourself. Many real estate teams, including Silecky Thompson, In addition to downsizing tips, offers specialized services just for seniors. With our help, we can accomplish in a few days what might otherwise take months or even years.
Downsizing Your Home for Retirement
“When to downsize” is one of your biggest decisions, and there’s more to it than meets the eye. Many people plan to move to a smaller place after they retire, which has long been the traditional path.
However, it seems that we could be on the cusp of a new trend. More and more, many homeowners are choosing to sell and downsize to simplify their lives at younger ages, even while they are still working.
Both options offer a certain appeal.
Why consider retiring in Etobicoke? The posts below might convince you:
Searching for houses for sale in Etobicoke? Our featured listings may have your perfect dream home.
Downsize Later
If you wait to downsize until after you retire, you’ll have even more fond memories to carry with you. From a practical perspective, your home could also increase in value and earn a higher return when you do decide to make your move.
The drawback is you may have more money in your retirement years, but will you have the energy to enjoy your time? Mobility issues are more likely as you get older, which can impact any goals you may have for travel or new hobbies.
Downsize Now
The primary concern over downsizing early tends to be financial. Will the proceeds from selling your home, combined with any savings, allow you to enjoy your chosen lifestyle? Before listing your property or handing in your notice at work, you might want to set up an appointment with a financial advisor to assess your situation.
On the other hand, downsizing early means freeing up funds that you can use to travel, retire young, go back to school, or invest. Think of all those things you dream of doing if only you had the time or money. Selling your home in favour of something smaller can mean having both. Even if you stay at your job, you’ll have fewer hassles and spend less time on cleaning, yardwork, and repairs.
Choosing to downsize isn’t always about finances. Keep in mind that some townhouses or condos can be quite luxurious, and you must factor in condo fees and land transfer taxes. A move can also be about community and support. Your new location could provide a sense of purpose and connection, while also allowing for independent living.
Only one thing is certain: you have plenty of options and avenues to explore. When you’re ready, a local real estate agent can guide you through the selling and buying process and get your new adventure off to a great start.
Do you want customized guidance and full support when downsizing? Our Etobicoke real estate agents are here for anything you need. Reach out today at 647-282-7653 or email contact@sileckythompson.com with any questions.
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