Senior Spotlight: 5 Things To Know About Downsizing In 2023 (Part 1)
Living with less is something that appeals to most of us in some point in our lives. But downsizing is far easier said than done.
There is one challenge that will impact virtually every single one of us as we age: too much stuff! The more life we get to live, the more stuff that we accumulate with each chapter. And somehow the amount of spring cleaning we do is never quite enough to get rid of the number of items that we gain each year. If you are considering moving to a smaller residence or simply minimizing your possessions, here are 5 things you should know to empower you!
(***This week we are sharing ‘Part1: 5 Things To Know About Downsizing’ which covers items 1-3. Check back next week for items 4-5 plus some helpful resources!)
#1: You do not need to move to downsize. We typically think of downsizing as an event that happens when our parents or grandparents are moving from their lifelong home into an apartment or assisted living facility. Yet with retirement looking very different for every retiree – downsizing can happen when you just want to de-clutter (and maybe move in a grandchild or renter), relocate to an offshore retirement, start fresh in a new home that better suits your needs or when your health circumstances change. There is no right time to downsize – but the reality is that most of us wait too long and it feels very daunting!
#2: Seniors are not the only owns downsizing. A recent article from Reverse Mortgage Daily reveals that smaller homes (ranging from 500-1,500 square feet) are up in demand an average of 33%. With concerns of affordability and inventory a concern for many younger buyers, they are now often in direct competition with retirees who are also seeking smaller, less expensive homes. If you are looking to downsize your home, it is critical to speak with an agent about your goals, your location desires and how much competition there could be. Strategy is key.
#3: Downsizing is not something you have to do alone. There is an entire segment of the senior services industry called the National Association of Senior and Specialty Move Managers (NASMM). Companies who work in this sector endure a rigorous coursework of best practices, ethics and education on support needed by older adults. They can help with one room or many rooms, can prepare a home for staging, pack, organize and help with selling and donating items. Most offer very flexible service packages to suit each client’s needs. They even offer floor planning so you can determine if what you are keeping can fit into your next residence. Learn more and find support at: https://www.nasmm.org/.
- This article will be continued next week as we reveal ‘Part 2: 5 Things To Know About Downsizing’ which will share numbers 4 and 5 as well as our top resources.
Warmest regards,
Bobbi
Bobbi Decker
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Broker Associate
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www.bobbidecker.com
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