Tips for downsizing in old age

Tips for downsizing in old age

Not everybody wants or even needs to downsize but for those who do, such as seniors, there are a number of pitfalls that you should be aware of so that they can be successfully avoided when you move.

One thing that you can do that is very helpful is research.  Many people who are approaching retirement age tend to be focused on saving money, managing family dynamics, estate planning, and possibly even crossing off that bucket list; however, the bad news is that they also often put off dealing with their needs in terms of future housing.  Many have sentimental reasons that make it difficult to consider relocation, as people’s homes tend to have been the backdrop for the great majority of their happiest memories; however, the people in retirement who are the most satisfied and the happiest tend to be those who chose to include housing in their retirement research and who attempted to anticipate the nature of their needs in the future, studied the options, and became well informed.

Another good idea is to come up with a plan for downsizing.  ‘Knowledge is power’ is an old saying and a very accurate one, and people who do research and then make use of this research to draw up a plan tend to be the most successful.  This does not necessarily mean that you have to take action – after all, in truth the great majority of people never move and this can be a good thing if the decision has been taken as an informed decision – but having a plan is what is really important, even if this plan is to go absolutely nowhere.

The next step is to test out a wide range of options.  You will come across a large array of choices when you are starting your research into housing, from patio homes to high-rises, gated communities and apartment-style, and probably a few possibilities you didn’t even know existed.  One possible option is to rent on a seasonal basis, perhaps spending the winter in a different, warmer location.

Considering conveniences in the future is also important.  You need to think ahead a few years and decide what is likely to be of importance to you in the future.  These things need to be factored in and some things, such as hospitals, swimming pools or drug stores, may not have been of much importance to you in the past but may well be in the future.  Innocuous considerations such as these could become of vital importance to you should your circumstances change.

One thing that you should not do is jump into living with other people.  Moving in with friends or family members might seem like a good idea but this is not always the case.  If you want to try living with a roommate, do so on a temporary basis to begin with rather than making a permanent relocation or financial decision that might be difficult to get out of if things do not work out.

Lance Grooms