12 Things You MUST Do If You’re Planning to Downsize Your Home
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According to the Administration for Community Living data, in 2022, people 65 and over accounted for 17% of the U.S. population and will account for 22% by 2040. This population needs healthcare, so downsizing is appealing for convenience.
“Downsizing is a huge life decision for many of our customers, and there are a number of benefits to moving to a smaller property that extends way beyond just housing costs,” says Alex Edmans, Product Director at Saga Money.
However, making the transition requires careful planning to minimize stress. Here are 12 essential steps to help you downsize effectively.
Identify Your Goals
Begin by identifying your reason for downsizing. Some people have a monetary issue, while others may find a change in life or less stress from maintenance. Write down your goals, if it is to decrease expenses, move closer to family, or cut down upkeep.
This clarity will keep you focused on what truly matters.
Set a Budget
Know your finances. According to the American Moving and Storage Association, the moving costs, including purchasing or renting a new home and professional movers, can average from $4,300 to $4,800 for intrastate moves.
Factor in future savings on utilities and maintenance, and make sure your budget aligns with your long-term financial goals.
Research Your New Location
The right location is as important as the right home. Research neighborhoods, healthcare facilities, transportation options, and amenities. The Urban Land Institute says many older adults prefer a walkable community with easy access to shops and recreation.
Drive around or visit prospective neighborhoods to gauge the vibe, safety, and accessibility of each one.
Create a Moving Timeline
A clear timeline ensures an organized, stress-free process. Experts suggest breaking down your move into phases, such as decluttering, researching movers, and packing, and giving yourself 3–6 months to plan and effectively execute a downsizing move.
Share this timeline with your movers and family to keep everybody on track.
Take an Inventory of Your Belongings
Take stock of your possessions to determine what’s worth keeping. According to the LA Times, the average household has over 300,000 items. By inventorying items room by room, you will know what is essential, what you have duplicate copies of, and what you hardly use.
Digital tools or apps, such as Microsoft Excel or Google Sheets, can make the process easier and more efficient.
Declutter Strategically
Streamline your belongings using the 90/90 rule: If you haven’t used something in the past 90 days and won’t need it in the next 90, let it go. Categorize items as keep, donate, recycle, or discard.
This will help you donate or recycle responsibly, simplifying the move and giving you a fresh start.
Measure Your New Space
The extra cost, time, and effort taken at this stage can help prevent surprises about how your furniture and belongings will fit in. Measure your new space using tools like RoomScan or other floor plan apps to create a layout.
This will help you decide what to keep and ensure your new home remains functional and comfortable.
Plan for Storage
If your new home has limited storage, consider renting a storage unit. With over 50,000 storage facilities across the U.S., finding one should be simple.
Opt for a climate-controlled unit for sensitive items like electronics or family heirlooms. Compare local options to ensure affordability.
Hire Professionals
Hiring professional movers is the best option to save time and physical exertion. According to Forbes, the average moving cost is $1,400, though prices vary based on services and distance.
Research reputable moving companies or specialists to help pack fragile items or disassemble furniture.
Notify Essential Services
To avoid disruptions, update your address with utilities, banks, insurance providers, and healthcare facilities. Also, notify subscription services, online merchants, and governmental agencies like the IRS and DMV to ensure your life remains uninterrupted during the move.
Pack Strategically
Pack first things you will not immediately need, such as seasonal decorations. Label boxes clearly or color-code them to make unpacking easier. An essentials box allows you to easily access toiletries, medications, and important documents during the transition.
Settle Into Your New Home
After relocating, allow yourself some time to settle in. You can unpack all the kitchen and bedroom essentials, get familiar with the neighborhood, introduce yourself to the neighbors, and see what conveniences are available.
This sensitive transition will allow you to move with your new lifestyle and fully enjoy the advantages of downsizing.
Disclaimer: This list is solely the author’s opinion based on research and publicly available information.
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