The next chapter of your life is a blank page on which you can write the story you desire. First, you need to determine what your ideal lifestyle looks like. Then, you can figure out what living situation will best fit your needs.
Selling your home offers a fresh start and a significant cash infusion to help fund whatever comes next. Of course, selling your home can be difficult, especially if you’ve lived there much of your life. It may be the site of innumerable memories and the place where you’ve felt safest and most loved.
However, the unexpected benefits of downsizing your home are significant. You may find that your home is a lot easier to part with when you’re moving to a new home that offers a lifestyle you love. You should honestly assess whether your current home is the best fit for the lifestyle you want in the next chapter of your life.
Here are some benefits of downsizing you might not have considered:
1. A More Spontaneous Lifestyle
For many people, venturing out of town means a lot of planning. Who will tend to your lawn, check your mail, and make sure your house is OK? Many choose to move to something smaller and more manageable — a cute townhome, a modernized apartment, and a space you can make uniquely yours, without all the clutter. These smaller spaces mean less work and less planning if you decide to travel to an exotic locale.
Adults who transition to a senior living community can realize additional benefits of downsizing. In a community setting, you don’t have to worry because team members tend to your home. Just lock your door and leave, confident that everything will be as you left it when you return — and that your neighbors will be thrilled to see you!
You don’t have to travel to appreciate the spontaneity this lifestyle affords. Community living also boasts access to exceptional food (without the planning, shopping, or cleaning up), lush greenspaces (without the weeding, fertilizing, and mulching), and welcoming common grounds you’ll never have to clean or maintain. Invite company over without spending the day preparing.
2. Greater Financial Security
If you have paid off your home or have been paying down your mortgage for years, downsizing can add a significant cushion to your budget. That might mean more funds to travel, eat out, enjoy outdoor adventures, or enroll in classes at a local college. Talk to a financial advisor about how the cash infusion from selling your home may mean more financial flexibility.
As you plan to downsize, you must first consider where to make your new home. This is a great time to explore what community living looks like in your area. A senior living community offers an impressive array of amenities and programming. For many, a home sale can help fund the senior living entry fee, offering greater financial flexibility.
If you do elect to move to a community, additional financial benefits await:
- You’ll save money on some larger homeownership expenses, such as home repairs and landscaping.
- You’ll have a more predictable monthly budget.
- Because everything is included in a single price tag, you could save money. Spend your discretionary income on YOU without worrying about the roof, the pipes, or the lawn.
3. The Perfect Space for Your Needs
There’s nothing quite like a crisp blank page to inspire creativity. A new home functions in much the same way. Downsizing your home gives you the chance to assess your vision for an ideal home. Many of us spend years accumulating possessions and trying to fit them into our homes. When you move, keep the things you treasure and eliminate the clutter. You’ll have the opportunity to decorate your new home exactly as you wish, building a unique and beautiful space reflective of you, your tastes, and your story.
4. Fewer Responsibilities
When you’ve cared for your home most of your life, it becomes second nature. This makes it easy to overlook how much time you invest in your home — from mowing the lawn to cleaning the gutters. Moving to a smaller, more manageable space frees up time in your schedule that you might not have known was there.
Senior living can even offer additional services, such as linen and laundry services, housekeeping, and more.
Fewer responsibilities mean less stress and more time to do what matters most to you.
5. New Lifestyle Opportunities
Packing and cleaning are never exciting for anyone, so it’s easy to focus on the challenges of downsizing. But the benefits can take the sting out of packing, especially if you’re moving someplace you’re excited to call home.
If you choose senior living, you’ll enjoy a community that offers endless opportunities to live the life you design for yourself. You’ll still enjoy tasty, healthy food without all the prep, and you may develop a few new favorites. A more active and social lifestyle awaits, along with plenty of opportunities to learn and do new things. It’s a quality of life that’s difficult to achieve while living in your own home, and it’s waiting for you whenever you’re ready.
The unexpected benefits are just the beginning. Downsizing can be a lot of work. But lots of work often yields a significant reward. Assess your senior living options with this five-minute quiz.