Why a Retirement Downsize Could Be the Right Move for You—And Where to Start

Retired Man considering downsizing

(Article written by Sarah Velasquez, website: ourperfectabode.com)

While some people see retirement as an opportunity to finally buy their dream home, most retirees are in the market for something smaller. If you’re planning for retirement while self-employed, it’s important to understand what your options are. Whether it’s to save money or cut back on maintenance, a smaller house is a smart move for older adults looking to simplify. You can accomplish both by deciding which home warranty provider is best for you in your new house. Getting a warranty on your new home can help you save on maintenance costs.

If you’re hopping on the downsizing bandwagon, you probably have a lot of questions about how much space is enough, what you can afford to spend, and which amenities you should look for in a downsized home. But more than anything, you’re wondering where to start!

Use these guides, apps, and other resources to kickstart your downsize.

10 Apps to Aid Your Move

Useful apps to help streamline each part of the moving process.

The Best Apps and Sites for Selling Your Stuff

Declutter your home (and sell your old things) before putting your home on the market.

8 Best Local Selling Apps to Sell Your Stuff Quickly

Local selling apps that have made it simple to sell and buy stuff right in your neighborhood.

Take Real Estate Photos Worthy of a Magazine Spread

The resource teaches you ways to ensure the photos of your home encourage potential buyers.

Senior-Specific Selling Resources

The downsizing process for seniors presents unique challenges physically and emotionally. Below are several resources specific to seniors to help ease the moving process.

How to Make Moving Easier for Seniors

Steps to approach the moving process with sensitivity to ease the emotional tension involved.

How Technology Can Help Seniors

Some seniors embrace technology, others may run from it. Either way, technology can help during the move—plus, it can have many other benefits as well.

Relocation Technology: How the Modern Moving Process Works for You

A guide to how modern technology can make the tasks involved with moving more of a minor inconvenience rather than a massive hurdle.

6 Survival Tips for Moving Your Elderly Loved One

Moving a senior loved one across the country into a new home or transitioning him or her to a senior living community is tough. Learn ways to ensure the transition goes smoothly while tending to their health, finances, and logistics.

Everyone has different retirement goals. For some, a house with ample space to entertain is the pinnacle of success, even if it means spending more time and money to maintain. If you’re looking to streamline your life in retirement, however, skip the extra square footage and downsize your home instead! While the move itself is a lot of work, you’ll be glad you made the effort when you’re enjoying your newfound money and free time during the golden years!

If you need help buying or selling your home in Southeast Virginia, contact Chris Garguilo with eXp Realty today!

More People Are Planning To Buy a Home Soon

More People Are Planning To Buy a Home Soon | MyKCM

While some homeowners may be tempted to hold off until spring to list their houses, you should know – homebuyers aren’t waiting. Demand is high today as more people are trying to beat rising mortgage rates. As a result, eager buyers are entering the market or moving their plans up so they can make their purchases as soon as possible.

The most recent Consumer Confidence Survey finds that, of those surveyed, the percentage of people planning to buy over the next six months has increased substantially since last fall (see graph below):

More People Are Planning To Buy a Home Soon | MyKCM

As the graph shows, the number of consumers fast-tracking their plans to purchase a home has crept up over the past three months. That indicates many buyers are evaluating their strategy and realizing they should act sooner rather than later. And for homeowners planning to sell, it’s a signal that now may be the time to list.

While more people are moving their plans up, others are actively putting theirs in motion. Time on the market is a great indication that homebuyers are motivated and moving quickly. According to a recent realtor.com reportthe average home sold faster this January than any January on record.

Danielle Hale, Chief Economist at realtor.com, notes:

“Homes sold at a record-fast January pace, suggesting that buyers are more active than usual for this time of year.”

What Does That Mean for You?

Homebuyers are rethinking their strategies and moving their plans forward. Others are making their moves today. That means demand for your house isn’t just increasing – it’s high right now.

And because there are so few homes available for determined purchasers to choose from, if you’re planning to sell your house this year, doing so sooner means you can take advantage of high buyer demand before more houses are listed in your neighborhood. Why is this important? Because as more houses are put up for sale, buyers will have more options. But until then, your house will be in the spotlight.

Bottom Line

With so many buyers eager to make a purchase, you could benefit by listing your house soon. To understand how strong buyer demand is in our area, let’s connect so you can start making your plans today.

Resources and Tips to Help You Make the Right Downsizing Plans for Retirement

(Article contributed by Alice Robertson of Tidyhome.info)

Dreaming of downsizing in retirement? If so, you are not alone in your aspirations. Countless older adults make changes to simplify their homes and their lives in preparation for a relaxing and low-stress retirement. Deciding to downsize is only half of the battle since you also need to know where to start when making your own downsizing plans. This list of practical and helpful resources from Real Estate with Mr. G can provide some clarity.

Downsizing Responsibility Without Limiting Possibilities

If what you’re really craving is less responsibility when it comes to caring for your home, you should know that you do have options. Including these creative solutions and tips:

  • First of all, try to focus on right-sizing rather than simply finding a smaller home.
  • You can use this dream home finder from our website to get started.
  • Worried about financing? You can check VA mortgage interest rates and your eligibility for VA home loans.
  • With no upper limits, VA loans could help you secure the home of your dreams.

Managing Potentially Stressful Downsizing and Moving Projects

The whole point of downsizing is to alleviate stress so that you can enjoy your retirement, so there’s no reason why the process should cause you distress. Keep these tips in mind:

  • If it’s been a while since you’ve bought a home, it can help to know what to expect.
  • You should also look for a moving checklist so you can stay organized throughout the process.
  • Need to declutter a lot of stuff before your move? Give yourself plenty of time to do so.
  • It’s also okay if you need to ask for help or hire a professional to help with downsizing.

Finding Other Professionals to Help Manage a Downsizing Move

Working with a senior move manager can be a good call for relieving stress, especially if you have room for it in your budget. These other professionals can also make moving easier:

Your golden years should be all about you and doing what you love. If you’re not in love with your current home or lifestyle, downsizing or right-sizing could be the right call. Be sure to bookmark this guide so you will have the right resources available to smooth the process. And if you plan on looking for your dream home in the Hampton Area, Christopher Garguilo has all of the resources and information you need. Reach out to get started: 757-876-7443.

For more information and resources on retirement, please click on the links below:

http://retireguide.com/guides/downsizing-for-retirement/

retireguide.com/guides/aging-in-place/

Photo Credit: Unsplash