The Misconception of Downsizing

When I got this question from one of my clients, I recognized that I had to give a clearer definition of ‘Downsizing.’

Downsizing is not necessarily moving to a small apartment.

It is really up to you. Do you want to keep your extra guest rooms and swimming pool for the next visit of your grandchildren?  You can do it. You do not need to squeeze into a small apartment if you have comfortable financial management after retiring.

What about all the ‘stuff’ you have collected over the years and have squirreled away in your basement or in other storage? Would it be a good idea to donate some of your collections to your family or a charity? If these have significant financial value, should you try to sell them?

What about your washer and dryer in the basement? Do you really need your bedroom to be on the 2^nd or 3^rd floor? Lots of stairs to negotiate.

Could you still handle them within the next 5 to 10 years?

My situation is a perfect example of trying to deal with the problem of stairs.

My husband had surgery, the result of the normal wear and tear of life.

We had just moved to a new multi-floor detached house and our master bedroom was on the 2^nd floor. After his knee operation his surgeon recommended bedrest for at least a month. Our new house had neither a bedroom nor a full bathroom on the main floor. He had great difficulty getting out of bed to use the toilet and was limited to sponge baths. This was a huge stress for both of us. We had never considered the possibility of either of us becoming disabled. Luckily my husband has fully recovered and things are back to normal.

According to CMHC, Canada’s population aging faster than ever before.

There is a growing demand across the country for homes and communities that are attractive, accessible, and comfortable for all ages.

I would suggest you look around your house. Is it currently safe for both you and your partner? Will it still be safe in the near future?

Downsizing is not just preparing for a physical move. You must also consider the psychological effects this move will have on both of you.

Choose a real estate salesperson who is a qualified SRES (Seniors Real Estate Specialist) to discuss your plans for the future.

Your SRES is a professional who will give you the best advice to make your downsizing move a smooth transition.