It reaches a time when the children must leave home to go to school and college, get married or start living independently. When that happens, the once-occupied house becomes unutilized. However difficult it can be, downsizing home as an empty nester is worth considering.
That said, the thought of starting all over again can be daunting. Couples don’t know where to begin: from dealing with life alone without their children to moving away from the home they’ve lived in their entire life.
Considerations Before Downsizing
The following are some helpful tips for empty nesters looking to downsize. Study and understand them to guide you in your plans for new changes:
How Do You Want to Restart Your New Life?
Before you start thinking of downsizing your home, visualize how your new lifestyle is going to be. Think about what you need to enable you to choose the location that matches your lifestyle.
Your current situation and work commitments will dictate where to start. For example, if you’re free most of the time, consider spending most of your time in your kitchen garden or get busy doing home improvement projects. In that case, a home away from town will be ideal. On the other hand, if you’re a sports person, consider locations around local trails and parks. They are convenient locations to do your morning runs or cycling.
Financial Benefits of Downsizing
If you have lived in a big luxurious home for all your active years, selling it and redirecting the money to a more beneficial activity would be a brilliant idea. For instance, you can use the money for your new monthly expenses, a down payment for your new home, or traveling.
Consider efficiency and saving bills in your new home. Newer homes with modern technologies for saving water and electricity bills can contribute to lowering your monthly bills. Also, consider a home that will be easy to maintain. This saves you time and resources.
Incorporate Future Plans in Your Downsize
Note that you will spend many years in your new home. Most downsizers mistake downsizing for retiring. They, therefore, limit themselves a lot in terms of space and location. It’s critical to consider plans like this; is this the home you’ll wish to spend your entire life in? Will you want to have relatives coming to visit and live? Is it the last home you’ll live in, or might you consider moving again?
Where Do You Want to Live?
The location of your home is critical. Do you want to live in a high-end suburb or somewhere downtown where you can easily walk to your favorite restaurant? Or retreat to a quiet countryside home?
Are you ready for a new life in your new location? Remember your lifestyle, type of home, and location go hand in hand. Some considerations on your new home could be: whether you want to live near or far from your kids. Most downsizers consider accessible neighborhoods that aren’t far or near the town.
Where Will You Take the Extra Stuff?
A home you’ve spent all of your life is full of items you got attached to. When downsizing, many people find it difficult to let some belongings go. Remember, downsizing doesn’t necessarily mean you do away with all the items. Take a step at a time; begin from one room to another, and use stickers to label each item in order of priority. Let the children pick their cherished items. Donate to others or put no-value items in the trash.
As you move to a new place, consider its accessibility ten years down the line. As the years go by, so does old age draw near. If you’re moving to an apartment, consider the accessible ones, preferably on the ground or first floors. Consider an apartment with shower railings, wheelchair friendly, etc.
The golden tip is; don’t only consider your life in its current state factor in things like aging, illness, and mobility.
Life changes from one stage to another. Each needs emotional, financial, and psychological preparations. As an empty nester, you can’t afford to downsize without thinking about it. Consider the factors discussed in this post for better decision-making. Happy moving!