What exactly does the term “Dwelling Downsize” mean? Most likely, it means different things to different people. Some definitions we have seen include:

• Sell ​​excess personal property to make more room.
• Move to a smaller, more manageable house.
• Take advantage of investing in personal assets
• Reduce mortgage payment and living expenses.

Perhaps the simplest definition of home downsizing is “getting by with less.” It means getting rid of all the excess baggage you have in your life, including expenses, personal property, collections, or junk…and living a simpler, less complicated life.

If you’re considering a major downsizing or relocation in the near future, you’re not alone. In fact, a significant portion of Americans ages 50 to 75 and older are downsizing today. And why not? One or more of the following statements most likely apply to you:

• Your children have grown up and gone.
• Your house has become an empty nest.
• You are retired or preparing to retire.
• You are ready to move closer or to live with your children.
• He lives in a bigger house than he needs now.
• Housework and gardening are becoming too difficult to maintain.
• You are simply tired of house and yard work and would rather spend your free time doing something else, such as traveling.
• Rising taxes and maintenance costs are becoming too heavy a burden.
• You have lost a spouse or partner and now live alone.
• You’re ready to move into your coastal home, mountain home, lake home, or your smallest dream home.
• I would prefer to live in a warmer climate throughout the year.
• You’re ready to tap into the home equity you’ve built up.

The reasons for downsizing are many. Each person’s life tells a different story, but many of us have reached the same point in our lives. What we are seeing is the “Grayification” of America, and an entire generation that is aging, ready to downsize, and ready to move on to the next phase of life.

Consider this:

• Between 2010 and 2030, the number of Americans over the age of 65 will more than double to 70,000,000. (Delaware Valley Regional Planning Council).
• In Philadelphia alone, 1 in 5 Philadelphians will be over the age of 65 by 2025 (same source).

Never lose sight of the fact that “downsizing” is usually about money. When a business “downsizes,” it lays off staff to cut costs. It strips resources that are no longer needed and reduces fat, all in an attempt to increase operational efficiency.

“Home Downsizing” is no different. When you “downsize” your home, you’re basically looking to cut expenses, shed resources you no longer need, and cut fat—all to increase your home’s operating efficiency.

The ultimate goal of Home Downsizing for many is to increase operational efficiency in your life, thus giving you more money, with less work and more time to do the things you want to do.

Tips and Strategies for Downsizing

Home Downsizing means different things to different people. What does it mean to you? What are three things you would like to accomplish once your home downsizing phase is complete?

• 1. _________________________________________________________
• two. ________________________________________________________________
• 3. _____________________________________________________________

Home Downsizing is similar to Business Downsizing in that its goal is to increase operational efficiency by reducing expenses. Downsizing is usually about money. How much can you save by downsizing your home?