When looking for a home, many young families will look for spacious houses with large rooms and outdoor areas. This gives the family the opportunity to grow without feeling cramped or tight on space. However, after the children have flown from the nest, many older couples are left with too much house. This can make it difficult for them to maintain all this space. This is why many older couples decide to downsize. This is when an older individual or couple will move out of their large, family sized house, into a smaller living area like a condo, apartment or tiny home. Any individual or couple who feel they have too much space should learn the benefits of downsizing.
Benefit One — Easier to Maintain
As the body ages, it becomes exceedingly difficult to bend, stretch and lift. This is especially true if the person has suffered any major injuries throughout their life. These limitations make it difficult for elderly people to efficiently clean their home. By moving into a smaller living space, the elderly person has less space to clean. This minimizes the burden that the elderly person has to deal with.
Benefit Two — Financial Freedom
Although it will depend on the location, smaller living spaces will often cost less than large ones. This means that when an individual or couple downsizes, they will be able to make a profit on their home. The individual or couple may also be able to make some profit by selling off excess items that will not fit in their new living space. Having this financial freedom allows the elderly individual or couple to save for retirement, make investments or spend it frivolously. However, the homeowner should remember to keep anything with sentimental value. Before selling anything, be sure to make a list of all of the must-keep items in the home.
Benefit Three — Change of Scenery
After living in a neighbourhood for decades, it can be nice to get a change of scenery. This can get an individual or couple familiar with a new neighbourhood or town. It can also be a great way for them to meet new people. The only downside to the change of scenery is that the elderly individual or couple will be farther away from their old neighbours and restaurants.
Benefit Four — Gain an Appreciation for the Space
When living in a large home, it can be easy to take an abundance of space for granted. Families will often waste it by having poorly organized items. However, after downsizing, an elderly individual or couple can gain more of an appreciation for the space that they have. With this in mind, it is easy to see why so many elderly individuals and couples choose to downsize.
There are a number of undeniable benefits to downsizing. Some of these benefits include easy maintenance, more financial freedom, a change of scenery and an improved appreciation for the living space.
For more information about the numerous benefits of downsizing and purchasing a condominium or townhouse be sure to contact a real estate professional.
