The Reasons That Seniors Choose to Downsize
Are you tired of hearing how to prepare for moving, when you are not moving? I understand…I just moved! Did I say, I JUST MOVED?! Omg you have a completely evolved Realtor at your service because I now know (after many years in the previous house), what I am asking of you! Let me walk you through it…In preparation, I called my staging consultant expecting there would be nothing I had to paint or remove for her to stage my perfect home.
WRONG! She started with “well, you are going to paint! Let me give you some color choices.” That was not a question, “WHAT? I need to paint? I like my paint, it goes with my things”…yadayada. I knew I was in trouble. She wanted me to remove all but about 3 pieces of furniture and the beds in my 2,200 sq foot house? “WHAT? You don’t like my furniture?” UMMMM “it’s not about your furniture,” she said, “you know it’s about the demographic of buyers who will be looking for a home like yours and what features and décor appeals to them.” “Yes, of course I know that,” I replied, “because this is what I do…help people prepare for sale”. But, the reality and shock of the amount of work that was going to entail was prickling my brain. At that moment, I had an epiphany and flashing before my eyes were your faces when I relay these messages in casual conversation as we prepare your homes for sale.
My sincere apologies for not stopping, right then, hugging you and consoling you while you shed a little tear, or curse or rant and rave a bit. Fortunately, the crew I have assembled to assist you with these things were available to help me (after snickering at my possibly over-reaction). Needless to say, I am waist high in boxes (clearly labeled I thought), but where is my cutting board and instant pot, my toothpaste and slippers? WHEW…Reality smacks me in the face with a new insight on a daily basis as I look at an impossible number of boxes that I am assured came from my house.
I get it. I REALLY get it! You have permission to remind me if I don’t remember when you and I are having this conversation when you are preparing to move. Although I’m hoping that you might be more ready than I was to hear it. By the way, need any empty boxes or packing paper?
Why Seniors Downsize
The reasons that seniors choose to downsize are as varied as the individuals in the senior population, though some reasons are more prevalent:
Reducing costs.
For retirees on a limited or fixed income, moving to a smaller, less expensive space can save on mortgage or rent payments, home insurance, property taxes, utility bills and repair costs. Reducing square footage is one of the best ways to cut costs.
Affording a more expensive lifestyle.
Some seniors may wish to move to an area that has a lower cost of living because of its location or amenities or to spend more of their money doing things such as traveling. Downsizing can make those choices more affordable.
Seeking a simpler life.
Maintaining a home requires a lot of time and care, and the larger the home, the more time and care are needed. Downsizing often reduces the need associated with home maintenance.
Adapting to physical changes.
Moving to a one-floor or adapted space that’s easier to access and use can help a senior better navigate life as physical needs change.
Accommodating medical needs.
Seniors with chronic conditions or who need more frequent medical care may wish to move to a space or area that can accommodate specific medical carriers or doctors.
A smaller household size.
When children finally leave the home, there are often unused or less-used rooms. Seniors may downsize by moving to a home that fits their new “empty nester” status.
Restarting life after divorce.
Bowling Green State University’s National Center for Family and Marriage Research found that divorce rates among people 65 and older tripled from 1990 to 2021. With the separation of a marriage often comes a changed lifestyle, with a smaller living space.
Searches for Downsizing Vary by State
According to Home News Now, Tennessee, North Carolina and South Carolina lead the nation in “downsizing” internet searches per capita, with almost three times as many as New York, Hawaii and New Jersey, the states with the fewest. Home News Now
The SRES® Professional | Why Seniors Downsize