It’s not uncommon for people to have a myriad of concerns when downsizing their lifestyle and homes. Sometimes it just takes time to overcome the initial fear of the downsizing journey and other times it requires the support of our partners, friends and family. We’ve prepared a list of the four common concerns for downsizers.
What possessions should I let go of?
Letting go of possessions is a key consideration for many. Letting go of our lifetime’s of accumulated objects can be daunting and in some way, some people may see this as negative life experience but…it can be a richly rewarding experience. Acknowledging that these material things have contributed to your life journey and may not be part of the next stage of your journey is a great step in the right direction.
Recognising that every object has a priority in your life is a starting point. Initially, if you can make a list of the objects that you can’t be without, you will be on your way.
Will I save money after I downsize?
If you plan your downsize well, you will likely save money on housing cost. Those daily expenses in running a smaller house or apartment are likely to be less particularly if your new property is energy efficient. Electricity, gas, council rates, water and maintenance are key areas of reduction that you should achieve.
Bear in mind though it may cost an initial outlay when re-establishing your new abode. If you plan well, you should be able to sell off your old household goods and get some money towards the newly downsized fit out. It’s a good move to clear the slate and get rid of that fifteen-year-old washing machine that probably going to last that long anyway.
How much storage should I have?
Many people who downsize look forward to living with material stuff in their lives. Depending on your new property and your penchant for holding on to stuff you may need additional storage. You should consider your new property’s storage capacity. If it’s an apartment many buildings offer smart storage areas in basements or lockers above where you park your car.
It’s not easy to live without enough storage space. Bear in mind that you will typically expand your collection of material things when you move to your new location. It seems to fill the vacuum despite the size.
How you will live with your partner?
A reduction in the size of the property can place a strain on relationships particularly if he or she has their own man cage in your old property. If you live with a partner, he or she may have different ideas about what it means to downsize.
Consider that you are both going to be in a different space so it might be worthwhile identifying where the potential frustrations might arise before you’re in that new space. Allocating each party some personal space might be a great opportunity for the future.
Don’t stress it…it’s a journey
It all can seem like an insurmountable emotional (and sometimes physical) challenge in the beginning but careful by planning for your downsize you can overcome the hurdles easily.
Read more Government advice on saving costs and money when you’re over 55.
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