Downsizing in Your 60s: A Comprehensive Guide For Retirees

downsizing in your 60s

Downsizing In Your 60s

Downsizing in your 60s is a significant decision that many seniors and baby boomers consider as they approach retirement age. This process involves choosing where to live, how much space is required, and what possessions to keep or let go of. Senior living options such as retirement communities, assisted living facilities, or downsized homes can provide more manageable living situations for those in their 60s and beyond.

After many years of accumulating possessions, downsizing can be an emotional process that requires careful consideration and planning. It’s not just about getting rid of stuff; it’s about letting go of memories and sentimental items collected over the years. However, downsizing in your 60s can also have financial benefits, such as reducing housing costs and freeing up retirement savings or travel funds.

Age-related changes in health and mobility may also make downsizing a practical choice for seniors who want to maintain their independence and quality of life. For instance, moving into a smaller home with fewer stairs can reduce the risk of falls and make daily tasks easier to manage.

My Story

This subject is very personal, as my husband and I decided to sell our family home in favor of a smaller apartment. We put much thought into making the decision; here are some reasons why it was the right choice for us.

  • We live in a large home with all the amenities we no longer want to deal with.
  • Our two sons are no longer home, and their chances of returning are remote.
  • We know the time is coming when we will no longer want to be going up and down the stairs.
  • We wanted to cut our living expenses
  • We wanted to simplify our daily life.

Surprisingly, things fell into place once we decided and implemented the plan. Obviously, this will not be right for everyone, but it is an option. If you decide to explore this option, here are some things you may want to consider.

Reasons for Downsizing in Your 60s

Family needs are among the most common reasons for downsizing in your 60s. As children grow up and move out, empty nesters may have more space than they require. In these cases, reducing to a smaller home can be a practical solution that allows them to save money on expenses like utilities and maintenance costs.

It also frees up time and energy usually spent on home care and maintenance activities. It may also offer savings that will allow you to engage in some of the activities that have been sitting on your bucket list.

In addition to reducing maintenance costs and freeing up time for other pursuits, downsizing in your 60s can provide socialization and community involvement opportunities. Many retirement communities and apartments offer fitness centers, swimming pools, and social clubs to help retirees stay active and engaged.

emotional side of downsizing

Emotional Side of Downsizing in Your 60s

Downsizing can be daunting for anyone, but it can be incredibly challenging for those in their 60s because it often involves letting go of possessions with sentimental value or memories. These items have been accumulated over decades; parting with them can feel like losing a piece of oneself.

One factor that can make decluttering even more difficult is when adult children are emotionally attached to specific items. They may see these items as part of their childhood or family history, making it hard to let go.

In situations like this, communication is vital. Having an open and honest discussion about why particular possessions are meaningful to everyone involved is critical. By understanding each other’s perspectives, compromises can be made that satisfy everyone involved.

Pay attention to the emotional side of decluttering and downsizing. Acknowledging the emotions during this process is essential, as they are valid and deserve attention. Doing so can make the process more manageable and ultimately reap the benefits of a simpler lifestyle.

Prioritizing Essentials Over Sentiment 

One significant challenge people face when downsizing is the sheer amount of stuff they have accumulated over the years. Sorting through all your belongings can be an emotional and time-consuming task, but it is essential to prioritize what needs to be kept, sold, donated, given away, or thrown away.

It is common to feel overwhelmed by the prospect of letting go of cherished possessions or leaving behind a home filled with memories. However, seeking support from family members or close friends can make this process more manageable.

Having someone else there to help sort through items or pack boxes can alleviate some of the stress of downsizing. Additionally, talking about your feelings with someone who understands what you’re going through can provide comfort during this transition period.

Hiring Professionals

After you have sorted your belongings, consider hiring professionals for deep cleaning or home repairs if necessary.

If you plan to sell your home, ensuring it’s in the best possible condition before putting it on the market is essential. This may involve hiring a contractor to fix any significant issues, such as electrical problems or plumbing leaks.

Hiring a professional can alleviate stress and ensure your home is in good condition for potential buyers or new tenants. Professional cleaners can help with carpet cleaning, window washing, and deep-cleaning bathrooms and kitchens.

planning downsizing

Research Housing Options

Downsizing to a smaller property or apartment can simplify your life and allow you to enjoy the benefits of a more manageable home.

When exploring options for downsizing, working with a real estate agent is essential. A knowledgeable agent can provide valuable insights into the local real estate market and help you evaluate the cost of selling your current property and buying a new one.

When planning to downsize, it’s essential to research different housing options thoroughly. Consider location, amenities, property taxes, mortgage rates, and other expenses associated with each option. By making informed decisions about these factors, you can develop a realistic budget that aligns with your income and values.

One way to reduce housing costs is by choosing an apartment over a house. Apartments typically have lower monthly rent payments than houses due to their smaller size and shared amenities such as pools or gyms.

Additionally, apartments offer more flexibility regarding lease length, which is beneficial if you are unsure about committing to a long-term living arrangement.

Another way to save money on housing expenses is by choosing a home in an area with lower property taxes or mortgage rates. Researching these factors will allow you to make informed decisions about where to live based on what fits within your budget.

It’s also important to consider the long-term financial implications of downsizing in your 60s before making significant decisions. While downsizing may free up equity in the short term, it may not always be the best financial decision in the long run. For example, if you plan to sell your current property and buy a new one, you may incur significant transaction costs such as real estate commissions and closing fees.

Changing Your Lifestyle Through Downsizing

Transitioning to a smaller home or apartment can provide a change of scenery and a fresh start. It is an experience that many people desire in their 60s as they look for ways to simplify their lives.

Many people desire simplicity in their 60s because they want more time for themselves rather than constantly worrying about maintaining things around the house. Downsizing in your 60s can help achieve this goal by reducing the number of tasks that needs to be taken care of, thus freeing up time for other activities.

Finally, downsizing in your 60s can also be an opportunity to pass on cherished items to children or donate them to those in need. This is a great way to ensure that your possessions are going to people who will appreciate them and get good use out of them. It’s also an opportunity for you to feel good about giving back!

Deciding On the Home, You Want and Need

Assessing Your Current Needs

Assessing your current needs is essential. This means considering your lifestyle, family situation and plans to determine the kind and size of home that will suit your needs. For instance, a smaller home may be more practical if you’re an empty nester or planning to travel frequently.

The amount of space you will need is an important consideration. Do you have rooms in your current house that are often unused? Downsizing in your 60s can be an opportunity to eliminate unnecessary space and simplify your life. However, remember that a smaller home doesn’t necessarily mean sacrificing comfort or style.

If you enjoy spending time outdoors but want to avoid the maintenance of a large yard, look for properties with low-maintenance landscaping or access to community parks. If being close to family is important, prioritize finding a home in the same area.

Prioritizing Functionality

When downsizing, prioritizing functionality over aesthetics is critical. A smaller space can still be comfortable and stylish if you focus on practicality.

Consider the house layout – does it make sense for how you live? Are there enough storage options? Multi-functional furniture can also maximize space while still providing comfort and style.

downsize to smaller space

Plan for The Future

Downsizing isn’t just about finding a smaller place to live; it’s also about planning for the future. Consider your long-term goals when deciding what kind and size of home best suits your needs.

Will you need extra space for guests or hobbies? Will you require a home office or accessible features? Consider these factors when discerning the kind and size of home you want and need.

Ultimately, downsizing in your 60s can be a positive change that simplifies your life and frees up time and resources. By assessing your current needs, evaluating your property, prioritizing functionality, and planning for the future, you can find a smaller home that fits your lifestyle and supports your long-term goals.

Making a Conscious Decision to Move On

Letting go of things and memories can be challenging, but keeping them can stop you from moving forward. Downsizing means choosing a plan. This should start with knowing what’s important to you and what you want in the next phase of life.

Making good choices is essential to your well-being and happiness. Downsizing in your 60s can be challenging because you might have to say goodbye to your big home and things you accumulated for years, but it can also give you more time, money, and less stress. Take it step by step.

downsizing in your 60s

Advantages of downsizing In Your 60s

Lower expenses

One of the most significant benefits of downsizing is lower expenses. Moving to a smaller home can reduce your living expenses, including mortgage payments, property taxes, utility bills, and maintenance costs. This can free up money for other essential things, such as travel or retirement savings.

Simplified lifestyle

Another benefit of downsizing is a simplified lifestyle. With less space to maintain and fewer possessions to manage, downsizing can help simplify your life and reduce stress. Allowing you more time to focus on the things that matter most, such as spending time with family and friends or pursuing hobbies and interests.

Cash infusion

Selling a larger home may provide a significant cash infusion that can be used to pay off debt, invest in retirement savings, or fund travel and other activities. This can be a great help for those needing to supplement their income.


Downsizing can also allow you to move to a more desirable location. For example, you can move closer to family members or friends or relocate to a walkable city center with easy access to restaurants and shops. Alternatively, you can move somewhere with warmer weather or better outdoor recreational opportunities.

packing up house

Disadvantages of downsizing in your 60s

Less space

The most obvious downside of downsizing is less space. Adjusting to a smaller space may take some time, especially if you have been used to living in a large home with multiple bedrooms and bathrooms. You must carefully consider what essential possessions and items you can live without.

Emotional attachment

If you have lived in your current home for a long time, you may be emotionally attached to it. It can be emotional and challenging to let go of the memories associated with your current home.

Moving costs

Finally, downsizing may involve moving to a new location, which can be costly. You must factor in the cost of hiring movers or renting a moving truck and any expenses associated with setting up your new home. But remember that this one-time cost should not be a deterrent.

Final Thoughts on Downsizing in Your 60s

Downsizing can be hard when you’ve lived in your home for a long time. You must go through your things and decide what to keep and what to eliminate. But it can also be a liberating experience, allowing you to start this new phase of your life without old encumbrances.

In my experience, once my husband and I overcame the nostalgia, we got to where we were comfortable sorting our belongings. We finally ended up doing a pretty good job of keeping all the things we needed, a few of the things we wanted, and very few things that have too many memories to part with.

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