Downsizing May Be “Rightsizing” For You

Downsizing is a process many senior citizens go through.

Also known as rightsizing involves the shedding of belongings and moving to a smaller space. According to SeniorLiving.org^[1], roughly 51% of retirees 50 and older move into smaller homes after retirement.

There are many reasons for downsizing: some people want to move to a warmer climate, others want to move to be closer to family. Some will be choosing to move to a small apartment in New York City to take advantage of the world class restaurants, cultural institutions, and medical care when needed, often all at walking distance. Other seniors will downsize to suburban condominiums, townhouses, and living facilities to be closer to their adult children and grandchildren and to enjoy the living space the suburbs afford.

If you’re considering downsizing, this guide will take you through some tips for decluttering, finding the perfect home, and making the process of downsizing as painless as possible.

Plan Ahead

When preparing to move into a smaller space, there are a lot of things to consider. How much space do you need? What will you take with you and what will you pare down? Will you donate, sell, or gift belongings to your family members? Will you keep valued possessions in storage for safekeeping? Will you sell your existing home or let to family and friends?

AARP^[2] recommends that you start shedding belongings “at least one month before you list your current home for sale (less clutter makes it appear larger).” Give yourself plenty of time to go through what you plan to take and what you plan to get rid of. It can be a very overwhelming and emotional process. Ask for help from loved ones, take breaks often, and plan to spend a couple of weeks going through one room at a time.

Declutter Strategically

Once you have a timeline, you can start to get rid of things strategically^[3]. Start with the kitchen, living room, and family rooms – these spaces tend to have the most items of emotional value and utility – things you’ve cherished more frequently.

Separate your items into five categories: what you want to keep, what you want to gift to family members, what you want to donate, what to sell, and what to throw away. If you already know where you’ll be moving, keep this in mind as you sort through your things. For instance, if you’re moving to a two-bedroom apartment, you only need four sets of sheets^[4].

After the main rooms, work outwards: the garage, shed, attic and basement. Take seasonal considerations into advisement and don’t plan to work in the garage during the heat of summer or the shed in the winter. You’re likely to find many things in these areas that you won’t take with you. Chances are, many of these items you have not used in a long time, if at all. “If you’re moving to an apartment or townhome, you might not have a garage or office space,” writes one expert.^[5] “Nearly everything in those spaces will need to be sold, donated, tossed, or relocated to other rooms.”

If you have trouble deciding what to keep, ask yourself these questions, made popular by Marie Kondo^[6]:

• Is this something I need?
• Is this something I really want?
• Do I have multiples of this?
• Is this something I use regularly?
• Is this something with sentimental value?
• Does this item have significant financial value?
• Will this fit into a smaller space/
• Would a family member want this item?

Sell or Donate

The next step before moving into your new home is to get rid of what you can’t take with you and what your friends and family don’t want or need. There are a few ways you do that.

Have an estate sale. If you want help, hire an estate sale company who can manage offloading some of your furniture and other big-ticket items. Estate companies sell items at a higher price than you might, but they keep an average of 35% of the sales.^[7]

Have a moving sale. If an estate sale isn’t right for you, there are also senior moving companies that specialize in downsizing. These experts can help you make the transition into a smaller home or senior living community.

Donate to charity. The obvious places to donate are Goodwill and the Salvation Army, but consider that these are profitable organizations, and some items you have may be better suited for a museum, library, or school. Some of these gifts can be tax deductions. Do you research.

Sell online. Online sites like Ebay, Craigslist and AptDeco are great places to get rid of things you no longer need – and earn a little extra cash in the process.

As you go through the process, keep your friends and family in mind. There may be some things your immediate community and loved ones will want or would benefit from – and it can be fun to go through things together and reminisce.

^[1] seniorliving.org

^[2] AARP

^[3] Ibid.

^[4] My Move Guide to Downsizing

^[5] Ibid.

^[6] Marie Kondo Method

^[7] AARP