Right-Sizing Your Home for a Happy Retirement

Julia Carlson | Mar 12, 2025

Decluttering Deep Dive

Decluttering is often the first step toward right-sizing your home for retirement. A strategic approach can make the process manageable and even rewarding. Here are some techniques to help you tackle the challenge room by room, drawer by drawer.

The "One In, One Out" Rule: For every new item you bring into your home, commit to removing something else. This helps prevent future clutter buildup.
The "Maybe Box": If you're unsure about an item, put it in a box labeled "Maybe." Mark your calendar for a few months out. If you haven't needed anything from the box by then, it's time to donate or discard it.
Seek Support: Don't be afraid to ask for help from friends, family, or professional organizers. A fresh perspective can make the process less overwhelming.
Sentimental Items: These can be the hardest to part with. Consider taking photos of sentimental items before letting them go. This allows you to preserve the memory without keeping the physical object.

Moving to a Smaller Home

Moving to a smaller home can be a significant step in the right-sizing process, often offering a range of benefits for retirees. Beyond the obvious reduction in square footage, downsizing may free up equity, lower property taxes and maintenance costs, and simplify your lifestyle. Let’s review some key considerations for those contemplating a move to a smaller space.

Location, Location, Location: Think about proximity to amenities, healthcare, and social connections. Consider a walkable community or one with easy access to public transportation.
Try Before You Buy: Spend time in the neighborhood you're considering. Visit at different times of the day to get a feel for the area.
Future-Proofing: Consider accessibility features like grab bars, ramps, or wider doorways, even if you don't need them now. Also consider room locations, such as a master and laundry on the main floors. This can help you age in place comfortably.
Don't Rush: Take your time to find the right place. Don't feel pressured to buy or sell before you're ready.

General Right-Sizing Advice

Whether you choose to declutter and stay in your current home or embrace the adventure of right-sizing, the process should be approached with intention and a positive mindset.

Focus on Experiences: Right-sizing isn't just about getting rid of stuff; it's about creating space for the things you enjoy in retirement, like travel, hobbies, or spending time with loved ones.
Consider Loved Ones: When determining the right size of your home consider whether you need space for aging parents or grandkids.
Financial Planning: Consult with a financial advisor to understand the financial implications of right-sizing.
Embrace the Change: Right-sizing can be a positive and liberating experience. Focus on the benefits of a simpler, more manageable lifestyle.

Ultimately, right-sizing is a deeply personal journey. There's no one-size-fits-all approach. The key is to thoughtfully consider your individual needs, preferences, and long-term goals. By focusing on what truly matters to you – be it spending time with loved ones, pursuing hobbies, or simply enjoying a more peaceful environment – you can create a home that not only meets your needs but also enhances your overall well-being in this next phase of life.

Information in this material is for general information only and is not intended as investment, tax, or legal advice. Please consult the appropriate professionals for specific information regarding your individual situation prior to making any financial decision.

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Right-Sizing Your Home for a Happy Retirement