When Is the Right Time to Downsize?

Is it time to downsize? If you are an older adult, you might be asking yourself that very question. Large home with a spacious yard may have been the perfect place to raise a family. Now that the children are grown and gone, however, the time, money, and burdens associated with maintaining it may not make much sense.

Life changes and we need to change with it. Being good stewards of our lives means balancing current needs with future ones. Rightsizing is a term used to describe the process of aligning your goals with your living situation and setting future goals for the months and years ahead.

Here are a few questions you can ask yourself to determine if now is a good time to rightsize and make a move to a retirement community.

RightSizing Your Retirement

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

Maintaining a home often becomes a family effort for retirees. Adult children might pitch in to help keep things in good repair. But sometimes that support comes at a price. Does the house feel like a burden to you or those you love? Are you missing out on events and activities because you are tied down by home maintenance tasks? Equally important, is your desire to remain in your home burdening your children?

The sentimental attachment to home makes these questions difficult to answer, but it’s important to try. If you answered yes to any of these questions, consider making a move to a continuing care retirement community, where you are free from the burdens and responsibilities of homeownership.

  1. Does the financial impact of caring for my home make sense?

Once you retire, your goals for life change. Making plans to travel, enjoy entertainment opportunities, and pursue new hobbies often take center stage. Retirement aspirations like these can be expensive. If the financial impact of caring for your house is keeping you from chasing your retirement dreams, it may be time to begin rightsizing.

  1. Is this a good time to sell my home and relocate?

Let’s be honest—moving is never fun. We can all think of numerous reasons why it’s not an optimal time to make a change. Even with assistance, moving can be a lot of work!

The reality is, as you grow older, relocating becomes even more difficult. Transitioning to a CCRC when you are healthy enough to enjoy and benefit from all the community has to offer, can actually help you remain engaged and independent longer. As a result, making a move sooner rather than later can be a good choice.

  1. Will my home enable me to age in place?

While many retirees envision themselves remaining in their homes the rest of their lives, that’s an expectation that may not be very realistic. Few houses are designed with the safety needs of a senior in mind. Steep stairs, narrow hallways, and slippery bathtubs can all present safety hazards. A lack of easy access to transportation and health care services are other drawbacks to consider.

Take an objective look around your home and neighborhood to determine just how safe and convenient it might be when you grow older.

Retirement Living at The Amsterdam at Harborside

If you answered yes to any of the questions above, it may be time to begin exploring continuing care retirement communities. As Nassau County’s only not-for-profit CCRC, The Amsterdam at Harborside is a vibrant place to call home. Contact us at 516-472-6636 to coordinate the best way for you to see The Amsterdam!

 

 

 

 

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