Saying goodbye to the family home is an emotional experience for boomers and seniors, but there is much to gain from downsizing. Although it may not seem like it while saying goodbye to the family home, there are many benefits to be had once the change is made. For starters, your home and its upkeep are probably your biggest expense, and while money can’t buy happiness, having a little extra of it can reduce stress and let you invest more in the things you love; be it art, travel, dining, or any other activity. From simplifying life to saving money, here are 5 benefits to downsizing. 1. Less upkeep. Moving from a larger home to a smaller one means less cleaning, less maintenance and less time spent doing “chores”. Not to mention, less to furnish. 2. More flexibility. A lower maintenance home means you have more time to do the things you truly enjoy. You can indulge in a more leisurely lifestyle, spend more time with family and friends, or on the flip side, engage in a more active life outside the home – travelling, visiting and exploring the world around you. 3. Increased savings. By downsizing, not only are you saving on your mortgage but also on energy and maintenance costs. These savings can be used to make larger investments or as additional income to use towards travel, buying that “item” you’ve always dreamed of (boat, car, painting), or even to start or invest in a new venture. 4. Smaller home, larger living. With more pocket money and less home care responsibilities, you have the time, money and energy to put towards living life the way you want. Sleep in, dine out, travel, entertain, do whatever it is you’ve always dreamed of. 5. It’s liberating. While you may have a larger disposable income, you do have less space. And instead of buying lots of things to fill the home, you fill your life with special treasures or experiences. In fact, many people report downsizing and clearing out clutter as having a kind of butterfly effect on the rest of your life; it gives a sense of freedom and an increased feeling of control. Another benefit to downsizing is moving into a place with neighbours who are in the same life stage as yourself – be it retired, empty nesters, snowbirds, etc. They are mature adults looking to form new friendships, create broader social circles, and embrace new opportunities. Making the transition even easier are services like Amintro. We are a social app designed to create and facilitate meaningful friendships and social circles for adults 50+.
Written by Christine Tompa