Pros and Cons of Downsizing for Retirement

Pros and Cons of Downsizing for Retirement

Whether you’ve already retired or you’re coming close to it, chances are you have thought about downsizing your home. With your kids out of the house, a huge home with extra bedrooms might not make sense. As you age, it might be hard to get up and down stairs or even take care of such a large space. There is so much to consider when downsizing, no matter your reasoning. Here are some pros and cons before you put your house up for sale.

Pros

Save Your Wallet

One of the most obvious positive aspects of a smaller space is the lowered costs. Utilities, property tax, home insurance, and your mortgage will be less than that of your large house. Save big on services like lawn care when you downsize as well.

Declutter Your Mess

When downsizing, you will gor Y through everything you own and free yourself of anything taking up space. Your new space will be more organized, and you will know where everything is!

Release Some Stress From Your Life

After you move to a smaller space, you won’t need as much time to focus on upkeep and cleaning. Be prepared to let go of lawn maintenance and many home improvement projects that do not come with a small space. This gives you more time to prioritize fun activities you actually like into your weekly routines.

Give Yourself Location Freedom

Moving after retirement allows you to move anywhere you would like. Considering a new state is entirely possible with a downsizing move. You can even strengthen relationships with your friends and family you have lost touch with by moving closer to those people.

Cons

Selling Your Place Is Hard

Between the expenses and the stress, putting your homes on the market can be a significant endeavor. Apart from the inspections, home repairs, and real estate fees, it can also take years to sell a home.

It Can Be Hard To Move Emotionally

When you move away from the location you have known for so long, it can be isolating to move away. Adjusting to a new community and a new way of life in retirement holds its own set of troubles. Letting go of your emotional ties to your old home and old lifestyle will take time to move through.

Smaller Spaces Threaten Privacy

Downsizing gives retirees less space at home, which comes with less privacy. Shared walls and small yards can be challenging to those used to being spaced out from their neighbors.

Letting Go Is Difficult

Your space is limited, which means you will have to downsize your belongings to live comfortably in this new home. Letting go of your belongings can be challenging for many people. These can be their deceased parents’ possessions or keepsakes that hold precious memories, but they would take up valuable space.

Luckily, this difficulty can be solved with self storage. Mini Price Storage provides units of all sizes to hold a wide variety of items. Our heated and cooled units keep help sustain a nice temperature from the harsh conditions of winter and summer. Find out which location is closest to your retirement spot and move onto the next stage of your life, clutter-free!

2023-06-27T20:46:19+00:00February 9th, 2021|

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