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12 Tips To Successfully Downsizing After Retirement

12 tips to successfully downsizing after retirement

Life after retirement is always easy, right?

You know as well as anybody that the answer is not always, “of course!” In fact, retirement can often lead to a new chapter of life with its own questions and challenges, often summed up as “What do I do now?

Living situations often create anxieties for retirees. After living a life where space often seemed tight, suddenly, there’s too much of it.

That’s why downsizing after retirement is a great move for recent retirees all over the world. Moving to a smaller space can relieve your spacial worries. And, you’ll probably end up saving some cash.

Here are twelve tips to get it done.

Tips On Downsizing For Retirement

1. Assess your Space Goals

OK, so you want to move to a smaller space. But how much smaller?

There’s a wide range of ways to downsize after retirement, from moving to a luxury condo downtown to simply living in your garden, as did a couple in England.

There is no one-size-fits-all rule to follow when you make this choice. There are a lot of factors that go into your decision that only you can know.

It’s important you sit down and look at those factors. While everyone’s decision is different, one determining detail usually affects things.

2. Consider Your Budget

Retirement savings are a fickle matter. While everyone starts with a certain goal in mind, savings at the moment of retirement are often more or less than intended.

And that kind of difference can affect downsizing after retirement. One key to retirement is to spend evenly so that you can consistently enjoy the fruits of your labor.

That means not blowing all your savings on a penthouse, but it also means not paying for a place you don’t like, just because of a cheap cost. Finding the best place for you can require some persistence, but it’s worth the effort.

And you can make things easier on yourself by whittling down the options.

3. Realize Where On A Map You’d Like To Live

Think about what place you want to live. Once again, this is a preference that only you know for certain.

Maybe you just want to move down the block to a smaller house. Or, you might end up posting up in the tropics.

The choice is yours, determined by your preference and your budget. Once you have that figured out, move on

4. Determine The Kind Of Neighborhood You Like

One way to make the housing market you’re choosing from a bit more specific is to pick places within a town or city where you don’t want to live. Cross those spots out on a map.

Then highlight what’s left. These are the places where you should be looking for a home. Tour some homes in the area while keeping certain questions in your pocket for any tour.

5. Decide: Rent Or Buy?

The final step to take to prepare for downsizing after retirement is to think about whether to rent or buy your new home. In general, the benefits of renting are lower overall costs and more freedom to move away if the place isn’t up to par.

Buying can be beneficial if you want to eventually leave the home to someone else. Or, you might be able to sell it again someday. But first, you need to sell your current home.

6. Sell With Purpose

Selling your longtime home is an emotional process that can be stressful. It’s important to approach it thinking about the finish line, and what you can gain once you cross it.

The answer, usually, is financial. If you are able to come away from a sale with some extra change, your retirement will be much better.

7. Label Your Possessions

You want to have fewer possessions to fit into your new smaller haunt. Divide your belongings into three categories: keep and giveaway.

Then, follow those labels. Decide what you want to keep at your new place and what you feel comfortable parting ways with.

Then, part ways with the rest.

8. Sell Some

There are many websites nowadays where you can sell your clothes for a fair price, including Poshmark.

Selling your finer clothing that you don’t want to wear anymore is a great way to gain a financial advantage while downsizing after retirement. And the rest you can give away.

9. Donate A Lot

Donating is good for two main reasons. It helps free up space while downsizing after retirement and also feels good, plain and simple.

That’ll make the move even easier.

10. Use A Storage Unit

Stuck deciding whether to keep or part ways with something?

Then you do have one way out. Renting a storage unit is a good solution for this issue. For a fair price, you can stow away your belongings that you only need every once in a while, freeing up some essential space.

11. Invest In Quality Movers

The most potentially stressful aspect of any move is moving day itself. That’s why it’s important to hire the right company.

We can help your move go smoothly in every way, from packing to transportation and setting things up in your new place. No matter your situation, we’re happy and able to help you downsize.

12. Furnish Realistically

Your new space will be smaller, which means you need to pick your furniture wisely. It’s not that your couch and rocking chair need to be miniature but effectively placed.

The reality is that you want to make the most out of your smaller space. So don’t jam it too full with stuff.

Downsizing After Retirement Is Within Reach

Moving to a smaller space should seem less like a burden and more like an opportunity. By downsizing after retirement, you’re opening a new path for happiness in your life.

If you can smoothly go through downsizing after retirement, you can set yourself up for a happy retirement period. It all starts with wanting to move, figuratively and literally.

Looking for moving help? Reach out to us to get the support of our expert team.

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