If you’re planning for your retirement, you may also be thinking about downsizing your current home. Making a move to a newer or smaller space can come with a lot of advantages—but it’s important to know what to expect before starting your home search.
How to Make Downsizing Easier
A recent survey by the National Association of Realtors noted that 12% of all buyers between the ages of 45 and 64 were moving because they wanted a smaller home. That’s a pretty high percentage! Although many retirees are excited to downsize, it can also be a stressful experience if you don’t prepare ahead of time.
Have questions about downsizing? Here are the answers you’ve been looking for.
Take a look at your finances
Many retirees choose to downsize because of the amazing financial benefits. Living in a larger, older home often comes with a lot of expenses—unexpected repairs, routine maintenance, high property taxes…the list goes on. If you want to save money, cashing out on your hard-earned equity and moving into a right-sized space could be a great option for you.
On the whole, smaller homes tend to come with fewer expenses. And if you buy a newer property, it could come with more energy efficient features and won’t require any costly updates!
Reorganize and declutter first
Before you even think about making a move, take some time to declutter and reorganize your belongings. Your new home likely won’t have the space for everything you have right now, so you may have to throw away or donate things you don’t need.
You’ll want to start paring down your things as soon as possible, especially if it’s been a while since you decluttered. It’s normal to feel emotional as you flip through old photos or part with sentimental objects. However, getting rid of the stuff you don’t actually need can help you start your next adventure on the right foot. If you aren’t ready to part with everything, you can always rent a storage unit, too!
Find a new community
Once you’ve prepared for your big move, it’s time for the fun part: searching for a new home! There are plenty of amazing active adult communities here in the Triangle that are ideal for downsizers. Many of them come with fabulous amenities and senior-focused floorplans, so be sure to do plenty of research to find one that’s right for you.
As you search for the perfect fit, be sure to consider what the future might hold. Certain features, like a first floor master or no-step entries, can help you age in place over time. Price should be another major factor in your decision, especially if you don’t plan on working during your retirement. You’ll want to choose a home that won’t affect your financial security in the long run!
Need Help Downsizing?
If you’re ready to downsize and move to an active adult community, it’s time to explore The Walk! The Walk at East Village is one of the Triangle’s top 55+ neighborhoods, and we’d love to show you around. Just give us a call today for more information—we can’t wait to help you start your next adventure!