The Seniors Guide To Downsizing

For many seniors, downsizing becomes both a reality and a necessity but also comes with some considerations and adjustments.  Seniors, later in life, realize that they no longer need the homes they did when they had families in the home with them and that their physical needs change as they age.  Downsizing is most certainly a process and shouldn’t be rushed nor ignored as the decision to move into a smaller dwelling looms.

Here is our guide to the downsizing process for seniors, what to expect, and how to get into the right home.

Consider Needs Foremost

When looking at the decision to downsize, it’s important to first and foremost consider the needs of the senior looking to downsize.  For some, there will be physical needs to take into consideration and for others, there may be entertainment needs, location, and social needs as well as proximity to caretakers or family members to keep in mind.

Everyone is different and very much requires different things of their home, so make sure to take those individual requirements into consideration when choosing a new downsized home.  What’s most important to bear in mind is that seniors can often feel alienated when forced with the decision to downsize.  For this reason, it’s of utmost importance to remember that even a downsized home is still a home.


A lifetime of living accumulates lots of possessions, and downsizing can make you see just how much has accumulated over time.  Unfortunately, not everything we have acquired over our lives can make the cut into a smaller dwelling.  Some items are essential keepsakes with strong emotional ties that will certainly make the trip to a downsized home while others are simply clutter.

When downsizing, consider decluttering as well.  Simply put, start three different piles of things: keep, donate, and dispose of.  This way, you can easily sort through things that you certainly want to keep while keeping in mind that others may be able to use some of your old possessions secondhand.  Finally, be sure to destroy any personal or private documents that could potentially lead to account or identity theft.

Keep Your Budget in Mind

When downsizing for seniors, keep your budget in mind.  It’s easy to look at a smaller home, think it’s perfect, then realize that the price tag is way beyond your reasonable budget for living.  Since many seniors live off of fixed incomes from retirement accounts, social security, and other means such as pensions, it’s crucial to bear in mind that those funds will both run out and are limited on a month-to-month basis.

Additionally, remember that as seniors age, there may be some renovations or remodels required to accommodate physical needs.  Maintain some extra cash in case those needs arrive and don’t be taken by surprise if the home needs to be modified or altered to accommodate those needs.

Get Financing for a Downsize

Hopefully, if you or your loved one is looking to downsize, then perhaps you’re looking at lowering a current mortgage payment or using some of the equity you’ve built up to make needed adjustments to an existing home.  No matter the case, Tidewater Mortgage Services, Inc. can help.  We’ve worked with new homeowners and seniors alike to find the right solutions to your mortgage financing.  Call today and get pre-qualified in as little as 24 hours!

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