5 Points in Your Life to Consider Downsizing
Americans are surrounded by clutter - from homes that are far too big to houses with unwanted items filling every square inch of storage space. While deciding to downsize can be a tough decision, simplifying your life can have many benefits.
In fact, the idea of ditching excess and scaling down is increasingly popular. While downsizing certainly doesn't make sense for everyone, if you find yourself in one of the following situations, it might be worth considering.
1. Your Kids Have Moved out
An empty nest is a big transition, but it can also be a good opportunity for you to evaluate your living situation and make necessary changes. Families with children typically need a lot of space for the kids, their stuff, and their friends. Once they're gone, you might find yourself with a house that has empty rooms and items you no longer need. Downsizing also allows you the freedom and flexibility to move wherever you like, even if that's closer to adult children who may now live elsewhere in the country.
Downsizing doesn't just apply to your living arrangements. If the kids are gone but your house is still full of old comic books, sports equipment, unused furniture, and other miscellaneous items, now is the time to get rid of what you don't use. Downsizing and selling the unnecessary items in your home gives you a chance to utilize your space for something else. Whether you want to transform an old bedroom into a dedicated craft space or set up a home office, you first need to clear out the clutter.
2. You’re Considering Retirement
Retirement is the start of a new chapter in your life—one that's hopefully filled with leisure or travel. When you're tied down to a home with a large mortgage or expensive upkeep, you may not be able to spend your retirement the way you wish. Some retirees like the feeling of a smaller space because it better represents their needs.
If you're entering retirement and want to downsize, you're not alone. A 2014 study by Merrill Lynch in conjunction with Age Wave revealed that more than half of retiree respondents who moved after retirement opted for smaller homes. Many retirees also notice that shedding excess items and finding a comfortable, convenient living situation allows them the freedom and flexibility to travel more, and selling your unwanted belongings with EBTH can help fund your next chapter.
3. Your Current Expenses Are Too High
If your mortgage, insurance, and taxes take up too much of your income, it may be time to look for a smaller, more affordable living situation. If you've lived in your current home for many years and have built up a fair amount of equity, selling your home could result in a profit. Using that money to purchase a smaller, less-expensive home reduces your monthly mortgage payments, and it can also help you allocate more funds toward other debt you might carry.
If you need extra cash but are unwilling or unable to sell your home, focus on your possessions instead. Reducing clutter and selling off excess items can also give you extra cash to put toward your bills.
4. You Crave Organization
Getting rid of excess clutter around the house by downsizing is also a great way to stay organized. The more stuff you have, the harder it is to keep on top of it all. Chances are good that there are things in your home you don't want or need.
If you find that you have too many items, you feel anxiety every time you enter a cluttered room, or you don't have enough storage space for everything you own, it might be time to downsize. Getting rid of your excess things can help you feel calmer and could even help you get more sleep.
5. You’re Simply Overwhelmed by the Size of Your Current Home
There's no question that caring for a large home overflowing with possessions is a substantial amount of work. It's easy to get overwhelmed tending to everything, especially if you're also balancing a job or you don't have help with the burden of upkeep. From the weekly cleaning to the larger maintenance projects, lots of space filled with lots of stuff often results in lots of stress.
Caring for your home isn't the only way you might feel overwhelmed. In addition to upkeep, having a large home often means you have a high mortgage payment. If you live in an area with high taxes or elevated overall cost of living, this can add to the stress burden. If you have the means and opportunity, downsizing to a smaller living situation with a relatively low cost of living may help you get rid of the constant anxiety.
Downsizing can seem like a daunting task, but it doesn't have to be overwhelming. Take it little by little, enlist family members for help, and carefully evaluate what you want to keep and which items you're ready to pass on to a new owner. If you're ready to part with some of your household items, contact Everything But The House. Our trained, knowledgeable staff can help you sort through and sell your items, providing a trustworthy way for you to downsize your life.