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Why It's A Good Time To Downsize

Tuesday, 30 June 2020

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Often in life, it seems like we outgrow the family home, with not enough space for our kids to grow and learn without stepping on each other’s feet. But then, many years later, a strange occurrence emerges: the family home outgrows you. Suddenly, the double-lockup garage makes no sense, maintenance is too overwhelming, and those four bedrooms serve to house clutter more than anything else.

When this happens, it may be time to consider downsizing. Whether this means moving into a smaller home, or into a village community at Oak Tree Retirement Villages here are some reasons why it could be a good time to downsize.

Your Monthly Housing Expenses Are Rising

It’s a fact that as you reach retirement age, your earnings may begin to decrease as a response to fewer working hours. When you make the move to retirement, your income may halt entirely – but those bills won’t stop!

Downsizing to a smaller home can cut the cost of bills – including utilities, rates and maintenance – dramatically. Some bills can in fact be eliminated altogether, if you move to a contained community where things such as yard and exterior household maintenance are handled by a village manager.

You Can’t Handle Your House’s Maintenance

Your family home is a source of treasured memories – that first Christmas with your new grandchild, the day your children first headed off to school – which is why we are at times compelled to stay within our homes longer than is better for our health or financial position. But as we begin to slow down, we may not be able to keep up with home maintenance and repairs. This is a good indicator that it’s time to downsize.

Your Home Doesn’t Fit Your Lifestyle

You may have purchased your home 15, 20 or 30 years ago with a completely different outlook on life, such as spending time raising a large family. You needed those extra bedrooms and that second bathroom, and there was never enough storage for all your belongings. The pool was used by the kids in summer, but now it just catches leaves. Moving from a large home to a retirement village is one of the top reasons couples decide to downsize in the first place. At Oak Tree Retirement Villages you can choose a new home that suits your current lifestyle while still being able to enjoy a community pool or billiards room – and best of all, you don’t have to maintain the pool anymore!

Your Neighbourhood No Longer Suits You

Some neighbourhoods are more suited to retirees than others. When you moved in to your current neighbourhood, you may have done so for the comfort and convenience of your family – in your older age however, it may instead feel a little isolating. With depression affecting around 15% of those over 65, now is a good time to downsize and consider moving into a community where you can feel at home again.

A retirement village can be an excellent place to connect with people your age and engage in social events. Some things you’ll be able to enjoy are craft classes, card games, barbecuing, a dip in a community pool, gardening, and much more. It may be just the thing to bring some newfound happiness to your life!

As you can see, your priorities change throughout your life – so why not aim for comfort and happiness when you need it most?

To find out more about Oak Tree Retirement Villages, call 1300 367 155.