**This guest blog was written and submitted by Kaytie Elizabeth Pascale**
For many Americans, downsizing is a great option once they’ve reached retirement age. As the number of people over the age of 65 continues to increase, more and more people are expected to downsize. But while downsizing comes with many benefits, lots of people still struggle with the idea of letting go of large family homes and personal items.
If you’re on the fence about whether moving into a smaller home is the right choice for you, keep reading for seven signs you’re ready to downsize.
1. Maintaining Your Home Has Become Overwhelming
Regular maintenance is one of the biggest responsibilities of homeownership. The bigger the home, the more things you need to worry about replacing and repairing. Between fixing appliances, landscaping, and general upkeep, maintaining a home is both time-consuming and expensive. It may be time to downsize if you’re starting to feel like you can no longer maintain your home.
2. You’re Retired
Most retired people are living on a fixed income, so keeping expenses to a minimum is a must. In order to live comfortably during your golden years, it’s important that you don’t waste your savings. Moving to a smaller home can offer you lower mortgage payments, less property taxes, and lower utility bills.
3. Your House Has Lots of Unused Space
When you’re raising a family, the more space you have in your home, the better. But once your children grow up and move into their own homes, it can be easy for that space to go to waste. If you find that there are multiple rooms in your house that you no longer have any use for, it might be time to transition into a smaller home.
4. The Market is Hot
Buying a home is probably the biggest investment you’ll ever make and now could be the perfect time to get your return. If your home’s value has appreciated and the seller’s market is booming, you could end up bringing in a lot of money by selling your home. The money you make by selling your home could be used to purchase a smaller property.
5. Your Home’s Layout is Difficult to Navigate
When most young people buy homes, they don’t always take their future selves into account. As you age, you may find that the way your home is laid out just doesn’t work as well for you anymore. For example, stairs can be difficult to deal with as you get older and certain bathroom layouts can become downright dangerous as physical abilities change.
6. You Want to Lead a More Minimalist Lifestyle
A bigger home usually means more belongings and clutter. If you’re ready to let go of some of your belongings, it’s definitely time to downsize. A minimalist lifestyle appeals to lots of retirees due to the fact that it’s less expensive and offers more freedom. By getting rid of some of your things and relocating to a smaller space, you may find yourself feeling more at ease.
7. You’d Like More Amenities
Moving into an apartment complex or retirement community can come with lots of amenities that you may find appealing. Features like swimming pools, social events, and walking trails can be great incentives to downsize.
Making the decision to downsize may seem scary at first, but the pros definitely outweigh the cons. If you’re ready to take the next step and make the most out of your post-retirement life, be sure to consider the reasons above.
