5 Signs It May Be Time To Downsize Your Home (And The Benefits That Come With It)

I recently had a client go through a major downsizing of her home and there was a LOT that went into it. Not only was she selling her home, but she was also navigating the process of buying a new one. 

Throughout the entire process, she kept asking me reallyyyy good, valid questions and it made me think… 

More people are probably wondering these same things. 

Most of the time when someone decides to downsize their home, it’s a really emotional journey. 

Sometimes it’s because they’re empty nesters, sometimes it’s a widow situation, and sometimes it’s simply because a family has decided they don’t need as much space as they once did.

Regardless of the reason, a lot goes into it and when you throw the extra emotions into the mix, it can feel extremely overwhelming. 

But as your friend in real estate, I’m here to make sure that your journey to downsizing your home is as smooth sailing as possible. 

ENTER: The Downsizing Your Home Series here on the blog.

Throughout this 3 part blog series, we’ll be diving into:

• Signs It May Be Time To Downsize Your Home & The Benefits That Come With It 

• How To Plan and Prepare For Downsizing Your Home

• How To Execute a Successful Move While Downsizing

Making the decision to downsize your home isn’t always an easy one, so in this blog post specifically I’ll be walking you through a few signs that it’s time to downsize, the potential benefits to downsizing, and how to emotionally cope with the ultimate decision to downsize your home!

5 Signs That It’s Time To Downsize Your Home

1. Empty Nest Syndrome

First up, the most common reason that people decide to downsize their home: they’re empty nesters!

As children grow up and move out, parents often find themselves living in a home that suddenly feels much too large. The extra bedrooms and play areas that were once bustling with activity now sit empty, collecting dust.

This can often create a sense of loneliness and the realization that maintaining a large home no longer makes sense.

While it’s true that kids do often come back to visit on the weekends or return home from college in the summers, there comes a point where trying to maintain all of the extra space isn’t feasible or sustainable for the long haul.

When it gets to that point, it’s a surefire sign that downsizing is the right move, as it will allow you to find a space better suited to your current needs, reducing upkeep and expenses while helping you embrace a new chapter in life.

2. Retirement (or other similar financial factors)

Similar to empty nesters, retirement is another significant life milestone that brings about a shift in priorities and lifestyle. With a fixed income and more free time, many retirees want to reduce their living expenses and responsibilities.

This is where downsizing can come in handy! A smaller home can offer a more manageable space, allowing for more leisure activities, travel, and the opportunity to live closer to family or in a community tailored to your new interests and needs.

Overall, downsizing can help you make the most of your retirement years, offering financial flexibility and peace of mind.

3. Divorce or Widow

One of the more emotional reasons that people choose to downsize their home is if they experience an unfortunate scenario of divorce or becoming a widow.

As if both of these scenarios aren’t overwhelming enough, throw a large home in the mix that’s hard to maintain and you’ve got yourself a recipe for stress.

In this instance, downsizing provides an opportunity to start fresh in a new environment, free from memories that may be difficult to cope with. It can also reduce financial burdens, making it easier to manage living expenses on a single income. 

4. Desire for a Simplified Lifestyle

For many of us, we dream of having our version of a “dream home” for most of our lives. From an early age, we often think about the home that we’ll buy or build one day and as we make our way into adulthood, those dreams often start to come true. 

But then, as life changes and we grow older, our desires often start to change as well.

For example, if you once yearned to live in a bustling neighborhood in a home with a basement and plenty of space as a young adult to grow your family, you may now find that you want the exact opposite – more privacy and less square footage to take care of.

It’s so common to yearn for a simpler, more minimalist lifestyle as you grow older and generally speaking, a large home often means more possessions, more maintenance, and more stress. 

In this case, downsizing can be a liberating experience, allowing you to declutter and focus on what truly matters. A smaller home can lead to a more organized and efficient living space, with less time spent on chores and more time to enjoy hobbies, family, and friends.

5. Health or Mobility Issues

Lastly, one of the major signs that it’s time to downsize is if you’re starting to experience health or mobility issues. Both of these things can make navigating a large home increasingly difficult, especially if stairs, large yards, or multiple levels are involved.

Downsizing to a more accessible, single-story home or a property designed with mobility in mind, such as walk-in showers and wider doorways, can allow you to keep living independently without worry of daily hazards.

The Benefits of Downsizing Your Home

If you find yourself in one of the scenarios described above and think it might be time to downsize your home, but are still feeling a little hesitant, it can be helpful to fully understand the benefits involved with the decision!

• Financial Savings

First up, downsizing your home can of course lead to substantial financial savings. With a smaller mortgage or even the possibility of purchasing a new home outright using the equity from your previous, larger home, you'll find your monthly expenses significantly reduced. 💸

Additionally, your utility costs such as heating, cooling, and electricity are also lower in a smaller home, along with reduced maintenance costs and fewer repairs.

All of these factors contribute to long-term financial benefits that you may not have been able to experience otherwise!

• Simplified Lifestyle

As mentioned above, one of the major signs that it’s time to downsize is when you find yourself desiring a simplified lifestyle. This is quite possibly one of the most appealing benefits of downsizing!

By moving to a smaller space, you're often prompted to declutter and prioritize your belongings, leading to a more organized and stress-free living environment. The reduced upkeep means you spend less time on cleaning and home maintenance, giving you more free time to do things you enjoy, which can enhance your overall well-being and quality of life.

• Increased Flexibility

A smaller home offers greater flexibility, both in terms of the housing market and your personal living space. Smaller homes are often in higher demand due to their affordability, making them easier to sell in the future.

Additionally, downsized homes can be more easily adapted to meet your changing needs, whether it’s creating a home office, a hobby room, or a guest space. This adaptability ensures that your home remains functional and comfortable as your lifestyle evolves.

• Emotional and Psychological Benefits

Possibly most importantly, choosing to downsize can greatly reduce the stress associated with upkeep and financial pressures, providing emotional and psychological benefits that you never  saw coming!

Many people don’t fully realize the amount of stress and overwhelm that their home is causing them UNTIL they downsize and then they often think… “dang! I should've done this sooner.”

Downsizing can symbolize a fresh start, helping you move on from past chapters in your life and embrace new opportunities. 🎉

How To Emotionally Cope with Choosing To Downsize Your Home

Even with the benefits involved in downsizing your home, it can still be an emotional experience and you’re totally valid in feeling those feelings.

I know firsthand that a home can be SO MUCH MORE than just a place you live – trust me, I’ve had my fair share of emotions with building and buying homes. In fact, I share the story of the house that built me here!

So you won’t find me being the one questioning why you might be so attached to a space. Instead, you’ll find me being the person that acknowledges how you feel while also helping you make moves (literally) that can impact your life even more. 

When choosing to downsize your home, emotions will almost always be high and it’s important to know that and recognize it when you’re going into it so that you’re fully prepared to cope if necessary.

The last thing I want you to do is ignore what you’re feeling. It’s normal to feel a range of emotions when downsizing, like sadness, anxiety, or even relief. Allow yourself to process these feelings and understand that they are a natural part of transitioning to a new living situation.

Once you’ve acknowledged what’s happening, I believe the best thing you can do is focus on the positives. And I know… that can be easier said than done. But by shifting your perspective to focus on the positive aspects of downsizing (like some of the things mentioned above!) you can alleviate some of the emotional burden that might be lingering.

With that said, however, I know that one of the hardest parts of downsizing is parting with belongings that hold sentimental value and parting with a place that holds so many memories. To make this part of the process easier, I suggest keeping a few cherished items that bring you joy and hold value to take with you in your next phase of life.

It can also be fun to host one last “hoorah” that marks the end of your current chapter, but an exciting moment for your next. Invite family or friends over for dinner (even if it’s just to eat pizza in your empty living room!) and take photos to remember the end of an era. 🎉

Ready to downsize your home?

Overall, choosing to downsize your home can be an emotional decision, but it’s also the RIGHT decision for many people.

The key is that you have someone on your side throughout the entire process to make the journey as simple, straightforward, and stress free as possible.

You want someone that can answer your questions, help you navigate selling your current home, AND help you find a new, better suited home that you love. 

This is why you always want to partner with a trusted, local realtor to help you do it right. Your real estate agent is the person that works with you from start to finish to make this process feel way less overwhelming and get you to the ultimate outcome that you truly want!

So, if you’re in the midst of deciding whether or not you should downsize OR if you know it’s time, you’ve just been procrastinating the decision, I’m here to help. 👋

If you’re local to Billings, CLICK HERE to get started and I’ll help you get started on the right foot. 

And if you aren’t local to Billings, good news for you – I know people. 😏

Connect here and I’ll get you in touch with a trusted agent in your area that can help you downsize your home with ease.