Hello World! Welcome Friends! This post is really about my Mom who is in the process of going through her house to put it on the market in order to downsize!
When you were younger and all the kids were at home, you needed a big house with lots of space. Now, though, the kids are grown and raising families of their own. And, if you’re honest with yourself, caring for that big house is starting to get harder. For the first time in your life, you’re contemplating hiring help but housekeeping is so expensive! And having strangers in your home is weird!
It’s hard not to feel a little confused by this situation. You don’t remember your parents deciding to move after they retired. And your grandparents stayed put, too. But we’re going to bet that your grandparents’ and maybe even your parents’ retirements were not as long as yours will be. People are living longer now. Living well into someone’s 80s or 90s is not uncommon, say the financial experts at ReverseMortgages.com.
If you don’t want to or can’t afford to hire someone to help you out around the house and keeping it up yourself is getting too difficult, you might want to consider downsizing. Many people view downsizing as a step back or somehow admitting defeat. We say that downsizing offers people some awesome benefits. Here are the ones that top our lists of reasons to downsize:
#1: More Money
The last thing you want is another mortgage, right? But guess what: with today’s market, the money you bring in through the sale of your large house could dramatically offset the cost of a small house or a condo. You might even have money left over. This is money that can be used to pad your retirement fund, pay off other expenses, etc.
Another important money consideration is just how much cheaper small spaces are to maintain, to heat and to cool, and the property taxes are usually lower and you’ll save a bundle on homeowner’s insurance, too.
#2: More Free Time
In a large home, it can feel like you spend all of your time cleaning up and straightening. When you downsize to a small home, though, you can usually clean the whole thing top to bottom in a couple of hours, tops. This is because small spaces feel messy and cluttered much sooner than large spaces do. Some laundry on the floor is nothing in a huge bedroom. In a small one, it’s a problem right away! You’ll be able to spot clean and straighten quickly which will leave you with so much more time to do the stuff you really want to be doing.
#3: You Are Not a Storage Unit
Your kids have been living on their own for years now. Why are you still holding on to their childhood stuff? Ship it off to your kids to store in their own homes. If they have kids themselves, your grandkids will love looking at all of the keepsakes and mementos from when Mom or Dad was their age. And, with less stuff to store, you’ll have smaller spatial needs. More importantly, you won’t have to dig through all of those boxes when you’re trying to find holiday decorations or move them around when you bring home something new.
#4: Less Stuff
A small home has less space so you won’t need nearly as much stuff to fill it up and make it feel homey. You can sell off whatever you don’t move into your new home and use that money to fund a vacation or pay off a debt. Less stuff means less fuss. Less fuss means more time. We’ve talked about those things already.
#5: Built-In Repairs/Maintenance
If you decide to move into a rental (which would be understandable) the maintenance and repair costs are built into the cost of your rent. Moreover, the person who does those projects is usually on-site. No more calling around for plumbers, contractors, etc. Simply call your landlord and you’re done! You don’t even have to wait for the person to arrive or do the work. Because they’re employed on site, you can give them permission to enter if you’re not home.
There a lot of great benefits to downsizing your home. Sure you might have to deal with some whining from the kids but really: it’s your life and your retirement. You need to make yourself happy first!
I will keep you posted on my Mom’s downsizing and move. It is a stressful and emotional time, but the benefits are so wonderful once it is all said and done!
Thank you for stopping by! Have a glorious day/night depending on where you are in the world! Go with God and remember to be kind to one another!
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