A lot in real estate is centred around buying your first home, or moving up, but downsizing has a lot of significance as well – and many people tend to exclaim “I should have done this five years ago!” after they’ve taken the plunge to de-cluttering, scaling down and moving into a smaller home. Downsizing isn’t always an easy decision, and there can be many different reasons people downsize.
Most people tend to think of ‘empty –nesters’. This implies that a couple, parents in this case, are left with a much larger house than they remember once their grown children move out and find places of their own. The house seems to have too many rooms now, and it can feel lonely to continue to live in a house full of memories with children who no longer live there.
But moving into a smaller house or condo can mean a lot less maintenance, and can feel much cozier. Consider the steps to selling and moving into a new house – there’s cleaning, de-cluttering, packing, organizing, moving, unpacking, selling unwanted items – the list can be long and it can add up quickly to a lot of work. I find many people now are considering downsizing early into their retirement because they don’t want to be moving when they don’t have the energy to do so.
Economic reasons can also be a factor. Older homes can become more expensive as maintenance costs increase, or simply the realization that a smaller home would be a better use of available resources.
Moving into a smaller home will usually mean that you’re giving up some of the luxuries you had in your previous house, such as storage space or a large yard. But for many people, smaller accommodations, such as a condo, affords them new found freedom from spending every weekend doing yard work. And when you’re ready to take that well-deserved trip to Florida you simple lock your door behind you!