Downsizing during retirement years is a common reason for homeowners to move out of their long-term homes. Have your parents voiced frustrations with home maintenance or have you been concerned that they just have too much house to handle in retirement? Downsizing to a life plan community like Ventana may be just the answer both you and your parents are looking for.
Keep reading to learn a few key signs that now is the time for your parents to downsize and enter the next chapter of their retirement years.
5 Signs Your Parents are Ready to Downsize
- Your parents’ home is just too big.
Perhaps the most glaring reason your parents may be ready to downsize is that the house they are currently in is just too big for their lifestyle. Numerous bedrooms and bathrooms made sense when all of the kids were under one roof and space for each family member was needed, but that may not be the case anymore. If there are rooms in the house that don’t get any use, it may be time for your parents to consider a lower-maintenance lifestyle.
- There’s a concern over finances.
Retirement brings about new financial considerations. Your parents may not be taking home as much as they did when working full-time, so it’s important to shift priorities when it comes to budgeting. Older adults frequently choose to downsize to lessen the financial burden of maintaining the house they are currently living in and move to a more manageable living situation.Generally speaking, mortgage, insurance and property taxes aren’t recommended to exceed 30 percent of your take-home pay. By downsizing, your parents are freeing up room in their budget and allowing some wiggle-room to spend more of their money on travel and other things they enjoy.
- House maintenance is becoming burdensome.
Maintaining a home is no easy task. Plus, the bigger the space, the more time it takes. Have your parents ever passed an entire day away by cleaning and tidying around the house? Or have they scrubbed a room down just to realize it doesn’t get as much use as it has before? Cleaning can become burdensome, especially as they age, and it may be time for your parents to downsize if maintenance is getting out of hand.Cleaning is just one aspect, though. Home maintenance goes beyond tidiness and includes unpredictable utility prices, lawn and yard upkeep and keeping up with repairs and replacements. Older houses need plenty of repairs, like roof replacement, appliance updates and new piping. The unpredictability of these costs can make it difficult to have a stable financial plan. Downsizing is able to ease your parents’ worries about maintaining a home, plus take the pressure off their bank accounts.
- Your parents are starting to think of plans for the future.
While the house your parents are living in now may work for them at the moment, future needs should be kept in mind when planning where to live out their golden years. You may want to ask yourself these questions when it comes to future needs:
- Is there a plan in place if their healthcare needs change?
- Are we able to accommodate any safety updates or modifications, such as non-slip flooring or handrails?
- Is their home the most comfortable place for them to live out their retirement years?
After assessing your parents’ situation, have a discussion as to whether or not downsizing makes the most sense for them. For many older adults, the choice to move to a senior living community is due to future needs considerations because life plan communities like Ventana offer the peace of mind that future healthcare needs can be met.
- Your parents are looking for more independence and fun.
With less “things” to worry about, your parents could be living out their retirement years the way they had always planned! Now is their time to let go of everyday worries and truly live life to the fullest. That trip to Europe they’ve been dreaming of? With less home responsibilities, it can finally become a reality. An old hobby that had to be set aside due to lack of time can now become a priority. By downsizing, your parents will enjoy more time to do the things they love most.
As a bonus, should your parents choose to downsize to a senior living community, they will gain even more independence in their lives. Senior living communities do the heavy lifting for you, including housekeeping, food preparation and more. Plus, with a variety of activities and amenities available within the community, your parents will never be bored.
Discover the Benefits of Downsizing at Ventana
At Ventana by Buckner, Members aren’t just choosing a high-rise, luxurious lifestyle – they’re choosing a new place to call home. Your parents have the opportunity to live a maintenance-free lifestyle with all the amenities in a warm, spacious apartment ready to be personalized to their taste. Contact us today to schedule an informational session with our team members.