6 Reasons to Downsize After Retirement

Some people may plan on living in a big home after their retirement, but many people are opting for downsizing. Moving to a smaller house bring many great advantages when you are no longer working each day and all your children have moved out. When downsizing in the golden years, condos for sale in Irvine can be a great option due to wonderful views of the city and perfect climate for seniors. Here are a few reasons you should consider for downsizing after retirement.

1. Cut Back on the Clutter

When you live in the same house for many years, a lot of random items involuntarily create a clutter. Downsizing comes with an opportunity to go through all the belongings and throw out all those you never use. Hold a garage sale and earn some money before moving. Doing so can allow you to enjoy a simpler lifestyle with fewer unneeded possessions.

2. Get around the House Easier

Even if you are healthy and physically active, planning ahead for potential health or mobility issues is wise to prevent challenging situations that can make a big home unmanageable. Many retired people who opt to downsize often try to find single-storey homes with handicap accessible features such as railing and wide doorways to ensure they don’t have to walk long distances or navigate stairs if they are dealing with arthritis or other health issues potentially.

3. Boost Retirement Income

When the old home is already paid off, downsizing can significantly increase income. Some seniors opt to make profit by selling a big home and shifting to a reasonably sized home and other people put their old homes on rent for additional income. The money you earn by renting or selling a big property you no longer require can increase your monthly budget during retirement.

4. Travel More Easily

Big houses usually need housekeepers and other inconveniences when owners are leaving for a vacation. Downsizing can be great deal if you are planning on vacationing a lot after retiring.

5. Save Money

Without the constant income of a job, many retired people consider being more careful with the money. Being able to save some money is one of the most common purposes of downsizing. Smaller home have lower cooling, heating, and utility bills, therefore, it allows you to save a big amount of money on the whole each month. Smaller properties also tend to have lower tax costs and other fees related to maintenance.

6. Lower Home Maintenance

A big house requires a lot of maintenance. Downsizing makes everything simples. You can relax in a smaller home that is convenient to manage, instead of mowing a big lawn or vacuuming rarely used rooms during the retirement. In fact, condos in Irvine can be great idea for downsizing after retiring to spend as little as possible for home maintenance.

Lavine has many years of experience as a real estate agent and broker in multiple states. Presently, she is working with Irvine Residential Living. Employing her experience in this field, she shares her insight on various aspects of real estate.