How to help your retiree parents declutter and downsize their home
Once all their little ones have flown the nest, your parents may be wondering what to do with all the extra space in your childhood home now that it’s empty. Decluttering and downsizing for seniors can be a significant nuisance—heating and cooling the home, shovelling the driveway, and mowing the lawn. These obligations can become more burdensome as your parents near their golden years.
While letting go of the home you all built lasting memories in with the family is extremely hard to do, decluttering and downsizing might be the right choice to ensure your parents can spend their sunset years how they planned. With less maintenance to worry about, a smaller home can give them more time and energy to divert elsewhere, whether it’s travelling the world or playing a round of golf. To get started, let’s look at the four important points below to consider when helping your parents declutter and downsize as retirees.
1. How much they can afford
Just because they’re moving into a smaller home doesn’t mean it’s necessarily cheaper. A smaller home that’s brand-new or in an expensive area can be much more expensive than their current home. Before they downsize, have they determined how much they can afford, especially since their cash flow will shift dramatically once they enter retirement and they are no longer working full-time?
As they begin their decluttering and downsizing adventure, work with a local realtor and accountant to help them find the perfect property and balance their finances. Your/their accountant can help them determine what financing option is best for them, such as a conventional mortgage or a VA loan program if they were a member of the armed forces.
2. Location
Location, location, location—the three words real estate agents live by. As they near retirement and plan to downsize, they now have the opportunity to plant their roots somewhere else. This is a great opportunity to finally make their dreams come true, whether living by the beach, in the country, or in a vibrant city.
One thing to keep in mind when looking for a new place to live during retirement is their support and care system. While they might be tempted to move from the frigid Northeast to the warm shores of Florida, think about who will be there for them if they ever need help. Having family around is always important, especially as they age, so keep them closeby in mind as you help them plan their move.
3. Current real estate market
They’re most likely not thinking about what the real estate market will be like in the next 25 to 30 years during retirement. However, because real estate is an expensive investment, it’s important to keep the real estate market in mind, especially if they plan to downsize again when they reach an older age, such as 85 or 90. And if they’re leaving behind their property to any beneficiaries in their will, they’ll want to choose an investment that will benefit their family, too.
Some factors to keep in mind when they’re downsizing during retirement include:
- Home values in the neighbourhood they’re looking at
- Number of active listings in the area
- Current interest rates
- Local housing market trends
By analyzing the current real estate market in the area they’re looking, they’ll be able to get a better understanding of whether they’re making the right decision.
4. Declutter their belongings
Their house isn’t the only thing they should be downsizing during retirement. By moving into a new home, they’re going to have much less space than they’re used to. While they might feel compelled to keep every little thing they’ve collected over the years, now’s a great time to cherish those memories, accept them for what they were, and move on.
Clearing out trip hazards like scatter rugs, loose cords, and cluttered walkways can go a long way in preventing falls — but it’s just as important to have a backup plan if one does happen. The CDC reports that 1 in 3 seniors will fall at home each year, so having a way to get help fast is essential. For Canadian families, looking into a medical care alert canada system can bring real peace of mind, knowing that support is just a button press away — even when loved ones can’t be there in person during the big declutter or downsizing phase.
Once they find their new home to live in during retirement, get accurate measurements of each room. This way, you can help them determine what furniture will fit, and what furniture might swallow a room up. For any furniture they no longer need, you can help them host a yard sell, or sell online through an online marketplace.
Wrapping up
Your parents’ golden years are meant to be stress-free and relaxing. The last thing you want is a large house all your parents live alone in that requires tons of maintenance. By decluttering downsizing, your parents can consolidate their belongings and live in a smaller home with easier upkeep. But before they do so, make sure they take these four considerations into mind when downsizing as a retiree.
How have you helped your parents declutter and downsize? Pop a comment in the box below and share your tips with us!
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