Great Reasons To Downsize In Retirement

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There’s nothing wrong with wanting to spend your retirement in a larger home  - especially if you’ve worked years to buy it or spent decades renovating it. However, downsizing in retirement could have many benefits that are worth exploring. Below are just some of the great reasons to downsize in retirement. 

Free up some cash

A smaller home is likely to cost less, which could free up some cash to spend on your retirement. While you may have to make do with a smaller house, you’ll be able to improve your quality of life in other ways such as being able to afford more experiences and not having to budget as hard. It could even free up money to travel or afford your dream car. 

Afford your dream location

Alternatively, downsizing could give you the means to retire to your dream location. You may not be able to afford a  property by the sea or a property with a great mountain view that is the same size as your current home, however something smaller could be within your reach. Many retirees even look into mobile homes for sale, which can be placed in stunning locations at a much cheaper cost than a house would. Of course, you do have to consider the cost of moving and higher living costs that may come with a more glamorous location. 

Combat empty nest syndrome

Many parents find that their home feels empty and lonely once the kids move out. While having extra bedrooms could be useful for when the kids come back and stay, you have to consider the fact that they will be empty and unused most of the time. Moving to a smaller home could make your home feel cosier again and help you move on to the next chapter of your life.

Reduce housework

Larger homes require more maintenance. Retiring to a smaller home could allow you to enjoy a more relaxing life in which you’re not constantly tidying or fixing things. Small new builds are particularly popular homes for retirees as they don’t have as much wear and tear as older homes. On top of reducing time spent fixing things, moving to such a property could save you money in repairs. 

Prepare for mobility issues

Many of us develop mobility issues as we get older. While you may not have any major issues now, there could be a time when you do struggle to go up stairs or clean multiple rooms. This is why so many people retire to smaller homes - they’re easier to get around and manage if you have trouble walking or using your hands. Single storey mobile homes and bungalows could be worth considering if you already have trouble getting up stairs. That said, if you’d prefer not to move, there are always alternative solutions for getting around disabilities such as installing stairlifts and grab bars.

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