You’ve hit your 60s, and you feel like life is about to change. Your kids have moved out of home, you have ample space, lots of items around the home, and just want more time to do the things you love instead of what you have to do.
That’s why an increasing number of seniors have started the process of downsizing their homes, and most importantly, their lifestyles.
Generally, it means moving to a smaller house and starting afresh, and while that’s the gist of it, there are many other reasons why if you’re in your 60s, you should be downsizing.
6 Reasons to Downsize in Your 60s
Stop Worrying About the Upkeep
Living in a big house means looking after it. At 60, you’re probably over maintaining it, fixing it and keeping it up to standards. But by downsizing, you can minimize the workload that comes with looking after a big home. You’ll be living in a smaller place, which means less work and more free time for you to do what you want.
More Time For You
For seniors, you’ve spent your life working hard – so now it’s time to enjoy it. Downsizing to a community that offers interior and exterior amenities, high-level security and is located near natural elements can really enhance your mood, well-being and lifestyle.
Take, for instance, The Views, a luxury condo community that offers an “unmatched lifestyle” that ensures security and peace of mind, alongside the beauty and enjoyment of indoor and outdoor activities. You’ll feel part of a community, which encourages social interaction and helps gives you a little more “gusto” in your later years!
Keep The Things That Matter
By the time you’ve hit the age of 60, you have probably accumulated a lot of clutter and items. Be it memories of a previous time or just random stuff, you might find that your home is completely overhauled with unused items. Not only is it dangerous (read more on that below), but most of these things are useless, taking up unnecessary space.
The best part about downsizing is that you’ll get rid of items that have no use or sentimental value. You’ll keep only the things that matter, which will make your Golden Years even more beautiful.
Safer For You
Living in a home loaded with clutter can make it very dangerous to maneuver around. Plenty of seniors find themselves falling over or getting injured because of all the clutter. You run the same risk by living the same way.
Downsizing means you’ll move to a smaller place and removing all the unnecessary clutter, meaning more space for you to move freely, and most importantly, safely!
Your New Home Will Be “Bigger”
Size is all relative. You can live in a small home, but it can seem bigger if you have a few items and appliances. Surprisingly that’s what will happen when it comes to downsizing.
Your home will seem bigger as you’ll be living in a smaller home, and having reduced the clutter that comes with the move, find yourself with more space. In some cases, it will make it seem to empty. And that’s fine – because you’ve got the most important things on you (remember how decluttering means you’ll keep only the things that matter?) to restyle your home.
More Financial Viable
If you find that you’re spending too much money on upkeeping and living in your home, then you should consider downsizing as a smart way to reduce your expenditure. This is particularly true if you’re spending more than 30% of your monthly income on the mortgage.
As CNBC stated, “those who spend more than 30 percent of their income on housing have historically been said to be “cost burdened.” Those who spend 50 percent or more are considered “severely cost burdened.” Living with extensive debt in your 60s is the last thing you want.
You can reduce that burden by moving to a smaller home that costs less, both in terms of upkeep and the mortgage itself. If you manage to live in a condo community, even better, as the fees take up the maintenance cost, saving you more money than expected. You’ll have more money in your back pocket to spend on the stuff you really love.