Downsizing Your Home for Retirement: 6 Tips for Older Adults

For a comfortable retirement, you need a large amount of money saved. One of the most common ways older adults increase their savings is by downsizing their homes. Selling your home will most likely result in cash windfall, and a smaller home means lower monthly expenses. In addition, you’ll spend less on utility bills, renovations, and maintenance. If you haven’t paid off your current mortgage, a new home with a lower mortgage will free up space from your budget. All of these savings will add a large chunk to your retirement fund. 

If you’re nearing retirement and have concluded that downsizing is a great move for you, you want to do it right. You want to avoid many mistakes, such as accepting a low-ball offer for your home, keeping a piece of furniture that is too big, or not considering if you can age in place.

For people who already have a small house and can’t consider moving to a smaller one, doing essential updates for your old home and renting it out might be more advisable. Otherwise, we’ve listed our recommended practices for downsizing your home.

Take note of all the expenses

The point of downsizing is to save you money, but it doesn’t mean you won’t spend anything. There are a lot of fees you have to keep in mind if you want your downsizing to be smooth-sailing. 

• Moving to a new neighborhood means owing monthly home association fees. The more services and amenities the community offers, the higher the cost will be. 

• Preparing your house for the market means expenses, too. Repainting walls, installing new flooring, and other improvements mean you have to dish out some money.

• Keep in mind that home insurance won’t necessarily decrease if you move to a smaller home. The proximity of your new home to hazards can even make insurance premiums larger than before.

• Yes, you can sell your house without a realtor, but why would you? Hiring a real estate agent will take a lot of work off your hands and will speed up the process. Of course, real estate agents take commissions, and it’s an expense you have to take note of.

There are other expenses associated with downsizing. How much you will spend will vary from case to case. What’s important to remember is that keeping track of your expenses is the first step to spending money wisely. 

Decide on the retirement lifestyle you want

A lot about downsizing will depend on what kind of retirement you want to have. The financial goal you have to set for yourself should be in accordance with the costs of your retirement lifestyle. Having these well thought out before making any moves will allow you to understand better how you can achieve the retirement you want. 

Be realistic

Selling the home you’ve lived in for most of your life, along with all the other possessions, is not easy but might be necessary for your retirement goal. You might feel like putting a hefty price tag on your house because of the sentimental value you’ve given it, but that would only make it hard for you to sell it. This is where real estate agents come in. They will provide you with honest answers regarding your house’s value.

Donate or sell unnecessary items

You probably have plenty of items in your current house that you just left gathering dust in your basement. While you might not want to let go of them due to sentimental value, selling them off or donating them will free up space and make moving a lot easier. If you have stuff that are still in good condition, you can open a garage sale or list them in Facebook Marketplace or Craigslist to get rid of them and turn a profit. You can also just donate them to charities which will make sure someone will benefit from them.

Manage your emotions

Downsizing isn’t just a financial challenge — it can also stir up negative emotions such as sadness, anxiety, and grief. The thought of letting go of your home where you made a lot of special memories and going through all the objects that will remind you of them are likely to put you in a hurricane of emotions.

If you find yourself going through emotional turmoil while downsizing, it’s advisable to talk to your friends or relatives that you trust. They can help you go through these emotions and put you in a better state. If, by any chance, you don’t have anyone to speak to, consider getting professional help. You don’t need to be mentally ill to seek therapy.  

Plan for a new routine

Moving to a smaller home might mean having an entirely new routine, especially if you’re moving far from your previous neighborhood. Before moving, plan a new routine by researching cafes you can go to, clubs you can join, or other activities you can get involved in within your soon-to-be neighborhood. Having a new routine planned will save you time trying to adapt to your new community. 

Downsizing is a big retirement move that many people would have to consider when the time comes. It isn’t an easy task, and it requires a lot of planning. If you’re downsizing, give time to think about it thoroughly so you can spot anything that might become a problem. Consider all the expenses, decide on a retirement lifestyle, be realistic, sell unwanted items, manage your emotions, and prepare for a new routine. These aren’t the end-all and be-all of downsizing tips, but they will go a long way in making the move successful. 

How To Clean Up After a Major Home Renovation

What’s more satisfying than walking through your new space with a fresh perspective? You’ve got all the big stuff just the way you like it—but now you’ve got little piles of junk all over the place. Dust, debris, and torn-up drywall have no place in your beautiful new home. Don’t let the mess make you anxious; learn how to clean up after a major home renovation. Cleaning up can be cathartic!

Clear Away the Big Stuff

If you hired a contractor to carry out your home renovation, they may dispose of any walls they knocked out and other large debris. But if you did the renovation yourself, you’ll need to figure out disposal for yourself as well. If you have access to a pickup truck, you can get rid of the big stuff a little at a time. If you don’t, renting a mini dumpster will allow you to take care of all your debris in one go.

Clean Up the Air

Renovation kicks up a lot of dust! Invest in a HEPA (high-efficiency particulate air) filter to suck the dust and grime out of the air. A filter is a smart tool to have on hand during the renovation process, too. Keep your air filter on 24/7, and clean it regularly. During and after a renovation, you may need to clean out that filter every day. In the meantime, wear a medical mask around the house to keep your airways from picking up dust and fumes.

Vacuum Everything

Yes, everything! Even the walls and the ceiling. Dust gets absolutely everywhere when you’re doing a major renovation. Use a handheld vacuum or an extension on your standup model to suck all the debris from walls, carpets, windows, and upholstery. Get into every nook and cranny, and don’t forget to dust off your ceiling fans and remove buildup from vents and grates.

Wipe and Sanitize

Once you’ve removed all the post-renovation debris and dust, take time to mop the floors and wipe down all the windows and baseboards. Work with the windows open to circulate fresh air in your home as you spray down your hard surfaces with a sanitizing cleaner. Use a damp cloth to get into moldings and tricky areas that may still be holding onto dust.

Enjoy your newly renovated space as quickly as possible by cleaning up right away! Haul away any big debris before you get to vacuuming. Learning how to clean up after a major home renovation demystifies the process and makes cleanup much more manageable.

How To Replace Your Kitchen Faucet

Whether your kitchen is undergoing a major renovation or you just have a fixture that is outdated and not working properly, replacing your kitchen faucet is one of the most popular DIY projects. However, while it can be a relatively easy job, it can also have its share of difficulties. If you are preparing to replace your kitchen faucet, here's how to do it with as few problems as possible.

Choose Your Replacement Faucet

If you want your replacement job to go smoothly, choose a replacement faucet that is exactly like your current faucet, or at least as close as possible. By doing so, your replacement simply becomes a matter of seeing how your current faucet is connected and doing what's already been done.

Shut Off the Water Valves

After choosing your replacement faucet, shut off the water valves underneath the sink. If they are stuck or rusted, you can use the heat from a hair dryer to loosen them or spray some WD-40 on them to get them loose. If for any reason all your efforts to get the valves loose don't work or you have a water line that begins to leak, don't hesitate to call in professional plumbers to finish the job.

Remove the Old Faucet

Assuming all has gone well and your kitchen is not flooded, it's time to remove the old faucet. This can be done by loosening the bolts that hold the faucet in place, which can be found underneath the sink. But like the water valves, the bolts can also be rusted or stuck, so be prepared to have an adjustable wrench to work them loose.

Place the New Faucet on the Sink

After removing the old faucet, place the new faucet on the sink into the holes where your old faucet was located. If you are using a new faucet that is not designed for a three-hole sink, you will need to install an escutcheon plate over the extra holes and make sure it is watertight. Once everything is in place, tighten the nuts and bolts until it is secure.

Reconnect the Water Supply

Finally, reconnect the water supply to the faucet and turn it on to see if everything works as expected. Since there may be some initial leaks, turn on the water gently. Once you're satisfied with your work, tighten the connections a final time and apply some caulking around the faucet's edges.

Should You Hire A Pro?

In most cases, people should hire a professional plumber instead of doing it themselves. In addition to the likelihood of breaking something and the challenges of fitting new faucets to your current system, plumbers will also take care of cleaning up after everything is done. That way you don’t have to worry about disposing of your old faucet or cleaning up any water that got around the area.

Once you conquer this DIY project and all goes well, you may be on your way to doing a few more projects around the house.

Guest Post - Why Are Most Homes Built With Asphalt Shingles?

If you’re considering having a new roof installed, you’re probably wondering what your different roofing options are and which one is best. The vast majority of American homes have asphalt shingles, and this definitely isn’t a coincidence. Simply put, asphalt shingles provide a number of important advantages that other styles of roofing simply cannot compete with. What are these advantages, you ask? Read on to learn all the reasons why asphalt shingles are so popular.

Versatility and Flexibility

Asphalt shingles are far more versatile than most other roofing materials, which means they can be used on almost any home. Compared to harder clay, slate or wood shingles, asphalt shingles are extremely flexible. This allows them to seamlessly cover roofs of any size, style or design. In addition, asphalt shingles are available in a huge range of colors and styles, which makes it far easier to find an option that perfectly matches the rest of your home’s exterior.

Energy Efficiency

Another reason that asphalt shingles are so popular is that they are highly energy efficient. When hiring a roofing contractor such as Top Ridge Roofing & Restoration to replace your roof, they don’t simply tear off the old shingles and replace them. Instead, they first install an underlayment on the roof and then put the shingles over the top. This underlayment is part of what makes asphalt shingles so energy efficient as it essentially adds another layer underneath the shingles that provides additional protection and insulation. Asphalt shingles can also contribute to energy efficiency in another way by helping to reflect more of the sun’s rays and thus heat away from your home.

High Performance without the High Price

Maybe the biggest benefit that asphalt shingles have over other types of roofing is the price. Compared to other roofing materials, asphalt shingles tend to have a far lower upfront cost while still providing almost the same level of performance and durability. Depending on which style of shingles you choose, your new roof should last anywhere from 20 to 30 years. Although some other roofing materials do last longer, asphalt shingles are still the most cost-effective option in both the short and long term.

Now that you know about all the advantages that asphalt shingles provide compared to other types of roofing, it should be fairly obvious why most people choose this type of roofing. Simply put, no other roofing materials can really compete when it comes to versatility, style, price, and performance.

Repairs are Cheaper

Typically, when replacing wooden or ceramic shingles, you have to invest a significant amount to get repairs. Depending on where the damaged roof shingles are, the repairs can be very time-consuming, costing you additional money. However, due to the flexibility of asphalt shingles combined with the relatively affordable price for each sheet, the price to replace damaged shingles or small holes in your roof is usually cheaper and faster to repair.

Warm and Humid Environment-Proof

When considering if you should get asphalt shingles compared to other types of roofing, consider the environment that you live in. As mentioned in the energy efficiency section, asphalt reflects the sun better and thus is more valuable in warmer climates. In addition, they are more fire-resistant, meaning that it would be ideal for environments that are more prone to fire. Interestingly enough, they are also more resistant to algae growth so you’re more likely to benefit from asphalt shingles if your area has an algae problem.

Lighter Weight

When getting a roof installed on your home, one of the major considerations a contractor takes into account is the weight capacity of the roof. Tile roofing, for example, requires significantly more support than wood or asphalt shingles. A huge benefit of asphalt shingles is that they are lightweight. Not only does this mean that you have less weight on your roof and it may be safer in case of a roof collapse, but it also means that getting it installed or repaired will be cheaper due to less equipment needed to ship and bring it up to the roof. Plus, the pallet of asphalt shingles will be smaller than a pallet of wooden shingles or tile shingles so you will need less space to transport and store them during construction.

About the Author

Anica is a professional content and copywriter who graduated from the University of San Francisco. She loves dogs, the ocean, and anything outdoor-related. You can connect with Anica on Twitter @AnicaOaks. She recommends Top Ridge Roofing & Restoration when it comes to roofing.