Is It Time to Downsize?

  • March 19, 2020

If you are a retiree living in a house you’ve owned for decades, you might wonder if it’s time to downsize. While a big home with a spacious yard may have met your needs when raising a family, it may now be more of a burden. Maintenance, lawn care, and snow removal are just a few challenges seniors struggle with.

Rightsizing is the process of aligning your goals with your living situation.

Rightsizing to Make the Most of Your Retirement

What should you consider when deciding whether to sell your home and move to a retirement community or condominium?

Here are a few questions to help you make an informed decision:

1. Is maintaining the house a burden to me or my family?

When routine chores, maintenance, and repairs are too much for you or your spouse to handle alone, you may need to turn to loved ones for help. However, this is probably a short-term solution as they likely have busy schedules of their own.

Hiring outside help may be necessary, though that can come with a different set of burdens. You’ll need to spend time screening, hiring, and supervising individuals or agencies.

2. Does it make better financial sense to stay in the house or move?

After retirement, many people’s goals change. Freedom from work often means more time for travel and hobbies. Goals like these can be expensive and time-consuming. If the responsibilities of homeownership are keeping you from pursuing your retirement dreams, it may be time to downsize to a smaller house or move to a senior living community.

3. Will moving now be easier than waiting?

Moving is tough at any age. It can be both physically and emotionally exhausting. This is especially true for older adults who may have lived in their home for many years. Putting off a move might mean you are tackling this often-difficult transition at a much older age.

Another factor to consider is if you have a chronic illness that will worsen over time. Living in a supportive environment will likely help you remain safe and independent longer.

4. Is your home conducive to aging in place?

While most people think they will be able to stay in their home the rest of their life, that’s not always the safest or best option. Older houses are rarely designed with an older adult’s safety in mind. Outdated bathrooms, poor lighting, and an abundance of stairs can present safety risks.

Seniors should also consider how accessible transportation is to their home if driving is an issue. Will you be forced to rely on friends, neighbors, and family to get to the grocery store and appointments?

Equally important, are you likely to be isolated and spend most of your time alone? This presents health risks that range from diabetes and obesity to depression and heart disease.

Before you decide, take an objective look at your home and neighborhood. How conducive are they to successful aging?

Schedule a Tour Today

The best way to learn more about senior living communities is to visit in person. Call (617) 796-8387 to schedule a tour of a Five Star Senior Living community near you!

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