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For the majority of retirees, the thought of downsizing can be a scary experience. Not only are you saying goodbye to familiar surroundings and a home full of memories, but you’re also mourning the thought of losing an abundance of space.

Generally speaking, seniors usually make the decision to downsize in their mid-60‘s or early 70’s.  And even though this can be a difficult decision to make, it’s important to remember that there are countless benefits to downsizing – and once you’ve taken the jump, you’ll discover countless rewards!

Here are five common benefits that you can enjoy when you downsize your home – and your life:

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You will be able to cut your expenses

First and most important: downsizing will give you financial freedom. By owning a smaller home or moving into a small residence, you will be able to reduce your monthly mortgage payments – or perhaps even eliminate them all together. On top of that, it’s also worth mentioning that your maintenance and utility costs will also significantly decrease as well.

 

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You can enjoy an increase in cash flow

Downsizing can open a new, exciting chapter in your life. Have you ever thought about taking up a new hobby or traveling to a new destination, but money has always held you back? When you downsize, you will have an increase in cash flow – so, as opposed to paying for maintenance on your home or putting money on that hefty mortgage, you can instead start enjoying activities that weren’t possible before!

You will have more time for leisurely activities

A smaller home is simply easier to manage – both physically and financially.  Think of the countless chores you had to do on a regular basis in order maintain your home – between the yard work, cleaning sprees, snow removal (and the list goes on and on)….Now, you will have all the free time in the world to do things you want to do – such as travelling, spending time with family or friends, or to simply relax by your lonesome.

 You will be forced to cut the clutter

Remember that famous saying, ‘less is more’? Preparing for retirement and downsizing your home creates the perfect opportunity to part ways with items that you no longer need, want or use. By having less space, you will be forced to donate unused items, recycle them or give them away to family or friends.                                         

Your stress levels will be kept at bay

This one is quite easy: simplifying and downsizing your home will allow you to reduce unnecessary stress, which in turn, will improve your overall sense of happiness. It’s that simple!

If you’re thinking of downsizing in the Kitchener-Waterloo area, Uptown Waterloo could very well be exactly that you’re looking for! Uptown Waterloo is a premiere mature lifestyle community which offers independent Living Life Lease units and Assisted living retirement suites. The Uptown also features three models of spacious suites, all with balconies and a wide selection of amenities that residents can enjoy.

Good luck with your decision to downsize and remember: this is an exciting new chapter in your life!

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