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Life Events

Life Demands Space®: Retiring and Downsizing Your Home

There are times in all our lives where Life Demands Space®. For those times, a self storage unit can be a great tool for temporarily expanding your storage capabilities—whether you’re running a business or moving to a new city. 

But what if you’re looking for less space? Well, life sometimes demands that, too. For many, downsizing their home is a desirable or even necessary thing to do. Of course, that brings another set of questions: Should I downsize? How do I downsize? How do I choose between homeownership and apartment living? Is a senior living community right for me?

When it comes down to it, you are the only one who can answer those questions. However, that doesn’t mean that your friends at Prime Storage can’t help with some tips and tricks. And if you need self storage along the way, you know who to call

Should I Downsize?

Two older people

To downsize means to move from your current, larger home to a smaller one. Whether or not you should downsize comes down to why you’re looking to downsize. Each situation is different. There are three main reasons why retirees and empty nesters usually end up downsizing.  

  • To save money—Large homes don’t just require a greater monthly mortgage payment, they’re also more expensive to heat and cool. A smaller home means fewer costs associated with your home.
  • If you don’t need the space—There are not a lot of benefits to having a four-bedroom house if you only use one or two rooms. Downsizing helps you to live more efficiently. 
  • If you’re tired of upkeep—Even if you can afford a larger home, maintaining a larger home takes effort. You may not be interested or able to spend the same energy on the upkeep.

Ultimately, you should consider downsizing if owning your home is no longer financially viable or if you are unable to maintain it. If you decide to downsize, you’ve got several different options. 

Downsizing Your Home

The classic home downsizing is simply selling your large house and using the proceeds to purchase a smaller one. In this case, you’ll probably even be able to save a little money or invest it into your new property. Be careful, though—depending on your current house’s sale price and the cost of buying a new home in your desired area, you could encounter a higher mortgage payment in your new place.  

But there are two other ways to downsize: dipping your toes into apartment living or exploring the realm of senior living communities.  

Apartment Living 

This option is best for those who don’t want to mow their lawn, keep up their garden, or put time and money into repairs and other home-related maintenance issues. 

There are nearly as many different kinds of apartments as there are types of houses. Apartment living can be everything from luxurious to minimalistic. Just be sure to check your desired apartment complex’s set of amenities and what they cover. Being able to send maintenance requests to your landlord can be a relief if you’ve had to fix things yourself for decades. 

Senior Living Communities

A group of seniors playing games at a table

The term “senior living communities” is a broad, catchall term for apartments and living facilities of all types and sizes that specifically cater to seniors (generally classified as 55 years of age and over). Each senior living community can be further categorized into one of two subcategories: assisted living communities—often synonymous with “retirement homes”—and independent senior living communities.

Independent senior living communities are designed to provide a way for more physically able seniors to live in an apartment community with other seniors. From the outside, many independent living communities look like apartment complexes, townhomes, or condos. However, these communities provide other perks, such as:

  • Community—Retirement can often be lonely, and senior living communities provide neighbors, activities, and ways to stay active.  
  • Daily Amenities—From cleaning and grooming services to a cafeteria and shopping assistance, there are a wide variety of unique perks available. 
  • Medical Assistance—Some independent senior living communities have therapists and other medical professionals on staff. 
  • Contact With Staff—Though the level of staff involvement can vary wildly, a senior living community provides the ability for staff to check up on residents and take up some of their day-to-day duties.

Independent senior living facilities are more expensive than other apartments, but downsizing isn’t just about living in a smaller space or about saving money. For many, downsizing means worrying about fewer things and performing fewer chores. A senior living community is a great way to do that.  

Use Self Storage During Your Downsizing

Downsizing your home is a big decision. Fortunately, you won’t have to worry about getting rid of your belongings thanks to the power of self storage. Whether you decide to move items into self storage for a semi-permanent solution or just temporarily, Prime Storage has your back. Our competitive rates and month-to-month leases make it easy to rent a unit for exactly how long you need to. 

Got some questions about self storage? Check out our Frequently Asked Questions page. And if you’re ready to begin your downsizing journey, find your local Prime Storage facility today! 

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Tagged as  Life Events