According to google it's a hard yes, but at SORT my Space, we aren't so sure. Though let me catch you up on how we got to this point to begin with.
So often we meet clients who, to their own detriment, are making accommodations to support people who don't even live in their home. Sometimes, they don't even visit, either. While we fully support your home being set up to allow your family to visit if that's what you want; it seems silly to live as though you are in student accommodation because you've left the two spare rooms ready for your children to stay in, if they visit.
We have met with clients who have needed a desk to use their laptop or sewing machine and they limit themselves to a student desk inside the master bedroom rather than taking advantage of one of the multiple spare rooms within their home. Instead they leave the spare room, set up ready for a guest to visit and stay the night. When you consider how often a guest actually stays the night, does it really make sense that you, as the home owner, is living in less of your own house in case this other event occurs?
Seeing this situation play out, in yet another home, lead to a conversation a recent team meting and we've come up with some points to consider when thinking about downsizing... that are a little more fluid than Google's idea that you should do it when you're 64. This decision will be influenced by a variety of factors, including your personal circumstances and lifestyle.
Here are some factors, our team came up with, for consideration when deciding if and when you should downsize your home:
Health: If you have health issues that make it difficult to maintain a larger home, downsizing may be a good option. This could simply relate to the desire to have a home that was all on one level.
Retirement: As you approach retirement, you may want to consider downsizing to reduce expenses and simplify your life. Your Superannuation will last a lot longer if it isn't supporting mortgage repayments on top of everyday life expenses.
Financial situation: Downsizing can free up money that can be used to pay off debt, invest, or travel. Remember that trip you planned to take when "the kids were older" or at some other milestone that was never actually booked. There's no time like the present.
Maintenance and upkeep: Maintaining a larger home can be time-consuming and expensive. Downsizing can help reduce these costs.
Family changes: If your children have moved out or if you are an empty nester, downsizing can make sense. Unless you have hard plans to turn a former bedroom into a craft room or gym the extra room will likely just continue to attract more items to fill it.
Lifestyle changes: If you are looking to simplify your life, reduce stress, or have more free time, downsizing may be a good option. It might even mean you can finally move to the area you've always wanted to live in but it was inconvenient for your other life (work/school/sport commitments).
Personal preferences: Ultimately, the decision to downsize should be based on your personal preferences and goals.
It's important to consider your current and future needs, as well as your financial and emotional well-being, before making a decision. It may also be helpful to consult with a financial advisor or real estate professional to help you evaluate your options and make the best decision for your individual situation.
Our Team are happy to support you through any part of the decluttering and downsizing journey. We have clients currently who have engaged our services a couple of years before wanting to move. We have a session monthly and are working through the home to ensure that they surround themselves with things they love and want to have join them in their new home.
If downsizing is something you're considering, reach out via our contact page and we can have a chat about how the team and I can support you.
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