From A Woman's Perspective: August 3rd, 2024 "Signs it’s Time to Downsize"

Sign it's Time to Downsize

Good morning, Marilyn. Downsizing your home is not an easy decision to make. But as we age, our needs and priorities evolve, and our living arrangements often need to adapt accordingly. You might have chosen your current home 20, 30, 40 years ago or more, and what met your needs then likely doesn’t meet your needs now. But how do you know when it’s time to make the move?

Here are some key signs that it’s time to downsize:

 1.Too much space, too little use:

One of the most common reasons seniors consider downsizing is the realization that much of their home has become unused space. Perhaps you’re an empty nester with empty bedrooms and a quiet house. If you find yourself only using only a few 20% of your home 80% of the time, it might be time to think about a smaller, more manageable space. 

 2.Maintenance is overwhelming:

Owning a larger home often comes with significant upkeep.  Tasks like lawn care, cleaning, snow removal, and maintenance can become expensive and time-consuming, especially if mobility or health issues arise. if your home has become more of a burden than a blessing, there are plenty of low maintenance property options I can point you toward. 

 3.You’re worrying about finances:

If you're a senior living on a fixed income, the cost savings from lower utility bills, property taxes, and home maintenance can really add up by moving on down. Then there’s the hundreds of thousands of dollars of equity that long-time homeowners likely have accumulated but can’t access without selling. Once these funds are freed up, downsizers are also free to fund retirement, travel or future care expenses. 

 4.You’re ready for stair-free living:

Every year, thousands of Canadian seniors experience falls while navigating the stairs in their homes. For some, this will have devastating consequences. Others will make the SMART move ahead of this worse-case scenario for their safety and peace of mind, not to mention the peace of mind of the loved ones around them. 

 5.You're ready for car-free living:

Family homes nestled in quiet subdivisions are great: low traffic, nearby parks, big yards, etc. Their one major drawback is that homeowners are car dependent in these types of homes. When driving isn’t something you can or should do, transportation to doctors, groceries and friends is expensive and inconvenient. Searching for a new home with a high walkability score can restore independence and widen lifestyle options.

 6.Loneliness and isolation are taking a toll: 

Summer is great for getting out, and getting around. But in just a very few months we’ll be back to ice and snow and many seniors will feel like veritable shut-ins. Living in a large home can contribute to feeling isolated, especially if you’re in a neighbourhood that no longer feels familiar. Moving to a senior-friendly community can provide opportunities for new friendships and activities with people at the same age and stage as you. Having someone to check in on you, or to lend you the proverbial cup of sugar can be a great antidote to the social isolation many seniors face. 

Downsizing can add to freedom, comfort and convenience to your lifestyle. It’s easy to focus on the negative connotations of downsizing, but I can tell you from experience that the most frequent thing I hear from my clients is not that they regret moving, they regret not doing it sooner.

If you’d like to get started on your personal roadmap toward downsizing, why not ask for your free copy of “Downsizing Done Right.” You’ll gain a deeper understanding of your motivations, obstacles and property options. Like everything at SMART Realty Solutions, it’s free of cost or obligation.

You can also register to attend our webinar of the same name, “Downsizing Done Right,” on Wednesday August 14th at 1:00 pm via Zoom. We’ll walk you through the process of creating a plan that ideally suits your individual needs. 

Both the workbook and the webinar are available at smartrealtysolution.com or by calling me, Sharon, at 416-460-5636.

Get Ready To Downsize Webinar Link

Join Us On
Marilyn Wetson's "From a Woman's Perspective"

Listen To Our Recording Here!

CLICK TO VIEW MORE INFO