Everyone has different reasons for downsizing their home and belongings, but when do you know if it’s the right time? There are multiple things to consider when making the decision to scale down your living environment — such as whether or not you’ll be saving money, or if you’ll be sacrificing comfort for affordability.
When adult children move out of the home, this leaves behind unused rooms and sometimes possessions that are stored indefinitely — some of which are kept for the precious memories of the family the house once contained. Nonetheless, older parents may feel overwhelmed with the clutter, as well as the loneliness that comes with becoming “empty-nesters.”
Mayo Clinic cites that “empty nest syndrome” could cause depression in older adults who are adapting to living without their grown children. Medical experts recommend that “empty-nesters” focus on positive goals and projects while learning to cope with this important transition in life. Welcoming positive changes into your life could come in the form of downsizing your home, decluttering it of unnecessary bulk and treating yourself with a new way of living. Downsizing to some smaller digs could also include moving closer to your adult children, which is what many people choose to do!
If you’re newly retired, you may find yourself wanting to count your pennies — even if you’ve secured an impressive retirement fund. Downsizing your home is one way to cut back expenses, so you can focus on enjoying all of your newfound free time. Whether you want to get rid of your house and travel the country in an RV, or you just want to get back to basics, downsizing your home opens the door to many opportunities in your golden years.
Not only can downsizing your home help with your post-retirement finances, it can be a way to give you some extra spending cash. Selling your home, and unnecessary belongings, brings in more money for you to move on to the next stage in your life.
You’re feeling overburdened
Sometimes a big home stuffed with material possessions can become overwhelming — whether you’re a young and successful professional or a retired person transitioning from one stage of life to the next. Downsizing your home and belongings is definitely an option when you start feeling like everything is becoming just too much.
You need the money
Life has its ups and its downs, and sometimes those downs come in the form of financial hardships. Maybe you’re trying to find a way to pay for post-retirement housing, and your mortgage is just too much, or maybe you’ve been burdened with some other kind of debt. Downsizing your home and possessions could provide you with funds to help out with whatever hardship you are facing.
This option is an ideal for many people, but it’s certainly not a “get rich quick” scenario. Liquidators, estate sale companies and auction houses provide you with valuable services to help streamline the entire experience.
Are you still considering downsizing your home?
Just like there are reasons to downsize your home and belongings, there are plenty of reasons why you shouldn’t. It’s up to you to weigh out the pros versus the cons when it comes to making this very important, life-changing decision. Figuring out the next steps to take requires research, patience and a desire to transition from one stage in life to the next. Everybody’s exact needs are different, and the next steps you take can bring you closer to shedding yourself of unnecessary space, bulk and stress.