Retirement – what an exciting new phase of life! For those ready to make this change, downsizing their home is an important decision. While the thought of
leaving the family home can be emotional, there are significant benefits that can enhance the retirement lifestyle.

First, downsizing can provide significant financial savings. There may be substantial equity in the home which can be used for other purposes. Additionally, expenses associated with maintenance, utilities, taxes, and repairs can be dramatically reduced with a smaller home.

Downsizing also offers a simplified life in the home. Fewer rooms to clean and maintain allows homeowners to spend less time on household chores. These homes are often single story, as retirees trade large multi-storied homes for smaller spaces. A smaller home is easier to navigate and is often designed with accessibility needs in mind.

While moving may feel overwhelming at first, retirees who make the change often find it liberating. Downsizing requires decluttering and divesting of “stuff,” which offers a more relaxed environment focused on items that really matter.  Moving to a 55+ community is also an advantage. Surrounded by other retirees, people find a larger sense of community and rich social life.

All in all, there are strong advantages to downsizing after retirement. Of course, it’s not right for everyone but with so any options available, it is worth considering.