Ready to Downsize? 3 Tips for Seniors to Prepare
As your kids move out, you’re adjusting to a new budget, or you want to move somewhere else, downsizing or decluttering is a great way to prepare for the next phase of your life.
Downsizing could mean moving to a different home that better fits your lifestyle or reorganizing your current home to better meet your needs. Here are three tips to help you get started.
1. Gift Items You Won’t Need
It can be difficult to throw out items, especially for those who were raised with the “waste not, want not” philosophy. One good alternative is to give away the things you don’t need.
When you’re going through your things, take your time. Enjoy seeing things that have been stored for years, and appreciate your memories tied to these items. Then, ask around with your friends or family. There may be some great new homes for the things you no longer need among people you already know.
If your loved ones are set, consider donating things to nonprofit organizations, charity thrift stores, or other local social programs. Many of your items would be appreciated by those in need.
2. Get Rid of Old Paperwork
Individual paperwork may seem like a small item, but it adds up quickly. Between bills, bank statements, and junk mail, paperwork can take up a large amount of space.
As a part of your downsizing process, go through old paperwork and see what you can throw out. However, be careful about documents that contain personal information. To avoid identity theft, it’s important to properly dispose of sensitive documents. That means shredding or bringing them to a safe place for document destruction.
If you need some help getting started, check out our article, 4 Documents You Should Be Shredding and When.
3. Remember This is a Good Change
Any big life change can be tough. It’s important to remember you are making these changes to improve your life. Focus on the positives, which might include things like less maintenance and more freedom.
Decluttering or downsizing doesn’t have to mean getting rid of all of the possessions you love. It’s about making space for what improves your home and prepares you for the next stage of life. The process can be fun and exciting, especially if you ask your friends and family to help.
And if you're thinking about moving to a different home as part of your next chapter, reach out to our Mortgage team. We have experts who are here to help you at every step of the process.