Over our 15 years of operation, we have seen the positive effect that downsizing has had on many of our clients. Now this choice is not for everybody. That is why you should take some time to consider the benefits and drawbacks of both options. So, what am I talking about?
Living in your Family Home
We come across some clients that have been living in the family home for decades. Thirty, fourty, fifty years and more. The home is full of pictures and memories. Children and grandchildren were raised. Significant holidays, birthdays, milestones, anniversaries, and weddings. You get the picture. Now you are thinking about the challenges of maintaining the yard, shoveling snow, fixing the furnace. The roof should have been done years ago, and the eaves troughs are always getting clogged.
You live in a 3-bedroom home with a finished basement, and you put a pool in the backyard for the kids and now it only gets used when the grandkids are over.
The Reasons to Downsize
Well, one reason that may be the most underrated is an opportunity to have a fresh start. Especially for a single senior downsizing to a smaller home or apartment might be just what the doctor ordered. You have many years and new memories to create, why not do so in a space that works for you.
Of course, there are the financial benefits. Realizing the value of the home that has been appreciating in value for decades, and then reducing, and or eliminating expenses can be a windfall for a senior that is budgeting on a fixed income.
By downsizing you are also significantly simplifying your lifestyle. All the issues I mentioned earlier are gone. In an apartment or condo scenario all you do is pick up your phone and call maintenance when the tap is leaking.
Another good reason to downsize is the increase and enhanced safety that seniors experience with a smaller living space. Think of a home that does not have stairs. A home that has specific design features that are there for more comfort and safety. If you are in an apartment you are not worrying about ice and snow, shoveling or salting.
What you need to consider
The challenges are real and significant, so make sure you are taking the time you need to understand the impact it will have on you. The most significant negative impact on people downsizing is the psychological / emotional one. Leaving the space you have inhabited for decades and reducing all the things life collects can be very difficult. The change if not understood can be too much for some. This is the reason that anyone assisting someone considering downsizing needs to be listening more than talking. Accompany them. Do not attempt to solve the issues for them. Answer and share your opinions honestly. However, make sure that whatever decision that is made is theirs.
Kay & Will are now in their 80’s. They lived in the family home and raised two sons for over 40 years. After they retired it was not long before they decided to sell their home and moved into an apartment down by the lake. They gave themselves the time they needed to distribute some of their stuff to family and friends. My family benefited. At the time our children were small, so we got some toys that they had kept. Once they moved all bets were off. Travel was on the agenda, and they really enjoyed all the places visited. Not being tied to a home that needed attention meant they could travel a great deal. This was a great decision for Kay & Will. Maybe it is for you too.
Chris Treftlin – Shine at Home