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The Benefits of Downsizing in Retirement

Gina Narramore

Gina Narramore

Author

Lifestyle

Thinking about downsizing? We explain how retirement can be the perfect time to downsize.

There are many benefits to downsizing including a reduction in the amount of upkeep you need to do and potentially a much easier lifestyle. So if you’re considering doing this in your retirement, here, we share our knowledge about downsizing, and explain why it could be one of the best things you can do for your retirement.

Less Time On Maintenance, More Time To Spend On You

One of the most appealing aspects for those looking to downsize is the drastic reduction in maintenance that it can bring. Downsizing can also free up your time from upkeeping large gardens or interiors, meaning you’ll spend more time doing the things you love with those you care about. 

Accessibility Can Be Easier

Downsizing has become particularly sought-after in retirement as it can provide improved accessibility, especially when compared to larger, multi-level properties.

This improved accessibility from carefully designed interiors and layouts is something that McCarthy & Stone regularly review and look to evolve with each new development – ultimately giving our homeowners a better quality of living. What’s more, we provide many different accommodation options  that can suit a variety of different accessibility needs. 

You Can Save Money And Spoil Yourself 

There are many ways that downsizing could save you money. Again, less maintenance means spending less money on fixing up household problems and DIY jobs. You can also save money on your energy bills by having less space to power and heat – better still, most modern properties are much better at conserving heat, meaning you’ll also feel much warmer.

The money that can be saved by downsizing can contribute to a more pleasant and satisfying lifestyle in your retirement. It can also help your pension go further and more importantly it give you more money to spend on yourself. For example, you could use what you save to finance a new hobby or treat yourself to an indulgent shopping trip or holiday.

It’s An Excuse To Declutter And Start Your New Life

You can use downsizing to your new home as an excuse to declutter and give yourself a fresh start for your retirement.

You don’t necessarily have to just throw out your clutter either, you could instead look to sell your unwanted items and earn a little extra income from them for your retirement. If this is something you’d like to do, simply get help from family or friends to sell your unwanted items on eBay or in garage or car boot sales. Alternatively, you can also donate your unwanted items to charity for someone else to then enjoy.

If you’re interested in downsizing with McCarthy & Stone, you can see our range of retirement properties here


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