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Why Should You Downsize After Retirement?

By Mike in Miscellaneous with 0 Comments

Though some people plan on living in a big house for their entire life, more and more are choosing to downsize after retirement. Moving to a smaller home comes with many great advantages once you are no longer working each day. Downsizing during the golden years and opting for a loft or condo in downtown San Diego for sale may be a good idea due to the following reasons.

Cut Back on the Clutter

Years of living in the same place allows a lot of random items to build up. When you downsize, you get the opportunity to go through all your possessions and get rid of the things you never use. Hold a garage sale and make a little extra money before your move. In your new home, you can enjoy a simpler lifestyle with fewer unnecessary possessions.

Get Around the Home Easier

Even if you are still physically active, it is wise to plan ahead for potential health or mobility issues that could make it challenging to manage a big home. Most retirees who downsize try to find single-level homes with handicap accessible features like wide doorways and railings, which ensures they do not have to navigate stairs or walk long distances if they have arthritis or other mobility issues in the future. Another option is buying a condo in a building with easily accessible elevators.

Boost Retirement Income 

If your old home is already paid off, you can downsize to greatly increase your income. Some people choose to make a profit by selling a big property and moving to a more reasonably sized home, and others rent their old home for additional income. The money you make by selling or renting a big property you no longer need can be used to increase your monthly budget during retirement.

Travel More Easily

Having a big house typically requires housesitters and other inconveniences when leaving for a vacation. If you are planning on traveling a lot during retirement, downsizing is an ideal solution.

Save Money

Without the steady cash flow of a job, many retirees find they need to be a little more careful with money. Being able to save money is one of the most common motives for downsizing. Smaller homes tend to have lower heating, cooling, and electricity bills, so you can save on utility costs in the future, and they also tend to have lower property tax costs and other fees associated with keeping up a big property.

Reduce Home Maintenance

Having a big house requires a lot of upkeep. When you downsize, everything becomes simpler. Instead of spending your retirement vacuuming rarely used rooms or mowing a big lawn, you can relax in a smaller home that is easier to manage. For instance, downtown Gaslamp Quarter condos are ideal for those who want to spend as little time as possible maintaining their homes.

Whether you’re interested in condos in Columbia District or lofts in Little Italy, San Diego is the perfect place to live after retirement. When you’re ready to purchase your new downtown home, get in touch with the trusted real estate agents at 92101 Urban Living. Call 619-649-0368 to schedule an appointment. ')}