The Benefits Of Downsizing
A 2022 survey found that roughly 88 percent of people between 50 and 80 want to age in place. Many people want to stay home because they fear losing their independence, which makes them feel more in control of their lives.
While there are many benefits to aging in place, it can also come with financial and accessible concerns, especially if you’re living in a larger home. Downsizing is a way to relieve yourself of potential financial stress and safety concerns while remaining independent.
What Does It Mean To Downsize?
There are two aspects when thinking of downsizing your home. One part of downsizing is about reducing the physical items in your home. Many people collect things over the years. Maybe you have stuff that you’re holding onto for your children, or maybe you have items you no longer use. Organize your things into what you want to keep, toss, sell, or donate.
The second part of downsizing is physically moving into a smaller space. Once you organize your things, you’ll likely notice you don’t need as much space. Moving into a smaller home doesn’t mean lesser quality, but finding a home that fits your current lifestyle. Maybe you move from a four-bedroom Victorian house to a two-bedroom ranch. Or you might decide on an apartment or condo with building amenities. It’s all about whatever makes sense for you.
Why Should I Downsize?
People downsize for many reasons. Sometimes, it’s to save money. Sometimes, it’s to lessen the burden of carrying a large house. Other times, it’s simple to try something new.
Save Money
Many people are financially motivated to downsize. People often buy homes in early adulthood as they start families or thrive in their careers. In that part of their life, they have a steady income and need a larger home. However, after retirement or when children move out, that home can become financially burdensome, especially if you still have a mortgage on the home. Downsizing can mean reduced monthly payments, lower property taxes, and cheaper upkeep.
Less Maintenance
The larger a home, the more maintenance it needs. Not only is home maintenance time-consuming, but it also adds up financially. Smaller homes often don’t require as much upkeep and can be cheaper to fix. You may also want to consider renting a home or an apartment where maintenance is included in your rent, and you’re not responsible for fixing things throughout the home.
Safety
Living in a large home can be tricky to navigate, especially if you’re living with limited mobility. Homes with many stairs, tight hallways, and poor lighting can increase fall risk, jeopardizing your safety. While you can modify your home to make it more accessible, sometimes it’s easier and cheaper to downsize.
Try A New Location
Downsizing is the perfect excuse to try a new location. Often, people end up in cities because it’s close to their work. Once you’re retired, you don’t have a job keeping you tied to a city, so you can move to a location you’ve always dreamed of. Maybe you want to try a warmer client or consider moving closer to a loved one. You can also consider moving to cities with lower living costs to help save money.
Is It Time To Downsize?
It’s never too early or too late to downsize. However, if you’re experiencing any of the following, you may want to consider the move sooner rather than later.
- You’re having difficulty keeping up with bills.
- You need help to keep up with home maintenance.
- You can no longer move through your home with ease.
- You avoid certain rooms or areas of the home because they’re challenging to get to.
- You don’t have loved ones nearby.
How Visiting Angels Can Help
Visiting Angels is available to ensure your safety and comfort at home whether you decide to downsize or stay in your current home. We offer various at-home care services, such as companion and personal care, to help seniors remain independent. Our caregivers can help with light housekeeping, medication reminders, transportation to appointments, mobility, showering, personal grooming, and other household tasks.
Our Garland office works with seniors in Fate, Heath, Lucas, Quinlan, Rockwall, Rowlett, Royse City, Sachse, West Tawakoni, and Wylie. If you live in any of those communities and want to learn more about at-home care with Visiting Angels, please schedule a complimentary consultation.