Difficult Decisions, a New Start: Tips for Seniors Who Want to Downsize
Seniors who want to downsize have a lot to consider. Will you need assistance with activities of daily living? Will you be able to find the right home at the right price, and will you need to make modifications after moving in? How will you pay for upgrades? Then there’s the decluttering process, a key factor in the downsizing process. You’ll need to get rid of old belongings — can you cope with the emotional aspect of this important task?
Clearly, there’s more to downsizing than simply moving into a smaller living space. It’s a process that takes time, patience, and a clear vision of how you want to live in your senior years.
Options: Senior Care Communities
You also need to assess your physical and mental condition and determine whether living on your own is an option. Many seniors who need help with activities of daily living (bathing, cooking, dressing, etc.) flourish in assisted living communities, where they have their own apartment-like space without worrying about things like medication management.
For others, an independent living facility may be the optimal choice. Independent living provides amenities and special services for people who live in their own space (anything from an apartment to a single-family home, depending on the facility). Understanding the difference between independent and assisted living and how they relate to your life is important if you’re weighing options for your next big move.
Finding Your New House
If you’re able to care for yourself with little or no help, moving into a (smaller) new house can be a liberating experience. Once you’ve decided where you want to live, focus on finding a house that’s safe and easy to clean. If you have trouble finding one that’s just right, you can always modify a property that’s adequate for your square footage needs. However, be sure to factor in the cost of remodeling a room like the kitchen or bathroom; for example, remodeling a bathroom in New York costs, on average, between $6,853 and $16,396 and can take up to three months.
Decluttering
Clutter is a recognized source of stress and a physical danger for seniors, who are vulnerable to tripping and falling over loose objects, furniture, or loose carpeting. Decluttering clears walkways through your home and reduces the likelihood of tripping. Best of all, it helps you prepare for a move to a smaller, less expensive and more manageable living space. Some people avoid decluttering, which they fear will be an emotionally troubling task. Bear in mind that it’s not necessary to do it all at once. There’s no “right way” to declutter. Getting it done before you begin to pack is the main concern so you can begin an exciting new life free of encumbrances.
Some people choose to declutter a room at a time, while others may do a drawer one week and a closet the next. Keeping the momentum going once you’ve begun is key, as is sticking with decisions you make about each item. Keep only objects that have been used within the past six months and any items that have great emotional or financial value to you.
Packing and Moving
Get at least three quotes from moving companies and make sure each is fully insured, bonded and certified. Label every moving box (you can get a package of pre-printed moving labels from U-Haul for around $2.95) with its contents and the room it belongs in so the movers don’t have to keep shuffling boxes around. Identify where each piece of furniture is going (measure beforehand to make sure each piece fits).
Deciding where to move, how to make your new home a safe space, what to eliminate before moving, and how to finance your remodeling needs are all issues that need to be resolved when downsizing. Don’t rush the process; get it right so you can reap the benefits of a freer lifestyle.
Mike Zukerman in Scotsman Guide
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Michael Zukerman is the Managing Director and CEO of Whitestone Realty Capital, LLC. Whitestone Realty Capital, Inc (“WRC”) is a developer and real estate investment banking firm.
Marv Eisen is a Director of Whitestone Realty Capital (WRC). Prior to joining WRC, Mr. Eisen was a Vice President in his family’s manufacturing business that specialized in apparel for the military, police and fire departments as well as producing metal stampings for General Motors and Ford. A mechanical engineering graduate of the University of Pittsburgh, Mr. Eisen’s responsibilities included oversight of manufacturing operations in 3 plants, supervising 160 direct employees in the firm’s manufacturing operations. The company owned two buildings, and Mr. Eisen was instrumental in building acquisitions and utility infrastructure. Mr. Eisen’s responsibilities at WRC include transaction origination; underwriting due diligence; active participation in lender/investor sourcing and negotiations; and ongoing account management.