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Seamless downsizing: Navigating the transition to a cosier retirement lifestyle
As the nest empties and retirement beckons, many people find themselves contemplating a significant lifestyle change by downsizing to a smaller, more manageable home – however, the decision to embrace a cosier living space comes with both exciting opportunities and unique considerations.
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“Moving home ranks very high on the stress scale no matter one’s stage of life or the reason for the move, but it can be especially traumatic when downsizing as it involves coming to terms with leaving behind a lifetime of memories and parting with cherished possessions,” says Cobus Odendaal, chief executive officer of Lew Geffen Sotheby’s International Realty in Johannesburg and Randburg.
“There are also more factors to consider and decisions to be made once you’ve decided to make the move; from what to keep and discard to which type of property to move into as well as calculating monthly costs into the equation.
“Very often, people who have lived in their current homes for many years have no idea what suitable and affordable property options are available, nor which areas will offer them the best value for money.”
He says that in order to transplant one’s life into a new, smaller home with the least amount of stress, it is crucial to plan ahead, so if you are even considering the possibility of downsizing, now is a good time to gradually begin the process by getting rid of things you haven’t used in years.
“Start the process slowly and research property options in areas you like, as well as the potential moving costs,” Odendaal says.
He offers the following tips for making a seamless home and lifestyle transition:
Think about your hobbies, travel plans, and social preferences to determine the type of community that aligns with your aspirations.
Do you need extra bedrooms for guests, or would a cosy one-bedroom suffice? Consider open floor plans, efficient storage solutions, and spaces that can adapt to various activities to maximise functionality.
Factor in potential relocation costs, real estate market conditions, and any additional expenses associated with the downsizing process. Consult with financial advisors to ensure that the decision aligns with your long-term financial goals.
Embrace the decluttering process as a chance to curate a home filled with items that bring joy and purpose.
Consider communities with homeowners' associations that handle exterior maintenance, allowing you to focus on enjoying your home without the burden of constant upkeep.
Consider the availability of clubs, classes, and recreational facilities that foster a sense of belonging and provide opportunities to connect with like-minded neighbours.
Consider future-proofing your home with technologies that enhance safety and convenience, such as smart home devices and age-friendly modifications.
Odendaal says that although not everyone looks forward to downsizing, it actually marks the beginning of an exciting new chapter and has several compelling advantages.
“The financial benefits include freeing up a considerable amount of money each month that can be put to good use, such as boosting your retirement fund, decreasing debt or saving for an overseas family holiday,” says Odendaal.
“It also frees up time to do more of the things you enjoy but seldom had the chance to do as compact homes generally require less maintenance, which means home-owners can get out and enjoy life rather than spending weekends mowing the lawn.
“By carefully considering these factors, you can navigate the downsizing process with confidence and create a downsized haven that embodies comfort, convenience, and the joy of a simpler, more intentional way of living."
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