Tips for Retiring: "Rightsizing" Instead of Downsizing - Bozeman Real Estate Group


Tips for Retiring: “Rightsizing” Instead of Downsizing

Tips for Retiring: “Rightsizing” Instead of Downsizing

On May 01, 2019

“Downsizing” is a term you are likely familiar with, but it might not carry the positive connotation you’d like. According to Smooth Transitions, the better term is “rightsizing.” Defined as a “conscious choice to create a positive and sustainable lifestyle that brings peace, contentment, and happiness to your life,” rightsizing is just what you plan to do. Your current home might not be conducive to safe aging, so the following rightsizing tips will ensure that your next one sees you through your golden years and beyond.

Finding Your New Home

With a budget and location in mind, search online first to get an idea of the typical price for homes that meet your size and location criteria. Click here to see homes for sale in Bozeman, Montana. Knowing this can help you adjust your budget and explore other financial resources, such as a loan. As you conduct your search, keep in mind the types of homes that will make life easier and meet the definition of rightsizing. For example, a one-story home will be a lot easier to navigate, maintain, and clean safely. It is also in your best interest to look for homes in which the previous owner was meticulous about upkeep and repairs, meaning you won’t be immediately faced with expensive updates.

Factor Aging In Place Into Your Budget

Chances are that once you find your new home, you’ll want to live there as long as possible, which is where aging-in-place renovations come into play. As you tour homes or attend open houses, make a note of any changes you will likely need to make. Examine the entryways first, and look for any that are no-step. If there aren’t any, you may need to create one or have a ramp installed if you use a wheelchair, walker, or scooter. Take a look at the important rooms in the home, including the bathroom and kitchen. As your needs change, you may eventually need to install grab bars or replace the current bathtub/shower with a walk-in or no-step version. In the kitchen, you might realize that countertops and cabinets need to be lowered, or more lighting installed.

You’ll then need to determine how you’ll pay for these renovations if your current budget doesn’t allow it. Start by talking with your insurance company to see what items are considered durable medical equipment (DME), and are therefore covered. Then, look into ways to use your home’s equity, such as a reverse mortgage or home equity loan.

Downsize Items Before You Pack

Moving to a smaller home means less space, so it’s a smart idea to pare down some of your things before you make the big move. You won’t realize just how much stuff your home holds until you start going through it, so take it slow and don’t overwhelm yourself. The process won’t be too difficult until you come across sentimental items. Remember that you are in charge, and you decide what happens to them. Perhaps you’d like to go ahead and gift family heirlooms or have a family member help you create a scrapbook or video diary of your keepsakes and their stories/memories.

RLD Relocation, a moving company whose moving services extend out from Akron, recommends pre-planning furniture placement too. It’s better to know now that your couch is too large instead of after the movers have unloaded and left. Take measurements of all furniture, and map out how it will fit in the new home. If you weren’t already given one, ask your realtor for a floor plan detailing the dimensions of each room.

If you are downsizing your home, consider using the term “rightsizing” instead. This is a positive move that will enable you to live safely and peacefully. Take your time finding your new home, make adjustments to enable you to age in place, and pare down your stuff before the big day to rightsize with ease.

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