The moment you begin to think about downsizing, the questions start coming, and they never seem to stop. When should you move, should you sell your house now or later, where should you go, and who can help you along the way? Above all, why should you even consider downsizing in the first place?

The purpose of this post is to provide you with some clarity as you explore your options and plan your next steps. By the time you’re finished, you may even be ready to pack up to spend your retirement years in Ottawa! Let’s dive in.

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Table of Contents

1. Could Multigenerational Living Be the Answer?
2. Should I Rent or Buy After Downsizing?
3. How Can I Finally Organize and Declutter My House?
4. I’m Not Downsizing, but Maybe My Parents Should?
5. The Best Time to Downsize Is – Never?
6. It’s Time for a Change! How Do I Make It Happen?
7. Why Should I Retire in Ottawa?

Could Multigenerational Living Be the Answer?

Downsizing might traditionally mean selling your home and moving to a condo. While that is an excellent option for many people, there are other solutions available. Think of what you want your next few years to look like.

Do you want to be free to pack up and travel the world at your leisure? That’s the dream of many retirees, but it takes money, and you may have some responsibilities back at home. To start with, who is going to water your plants or feed your pets? Condo living can have some drawbacks in those respects.

Enter the idea of multigenerational living! Either you or your adult children (or both) sell your homes and then all combine under one roof. A duplex or property with a secondary suite is often perfect. Everyone has their own space and privacy, but in a fully supportive environment where no one is alone.

This option can save money for both parties while allowing each to enjoy a more spacious home. For close-knit families, this can be a way to safely age-in-place and enjoy a high quality of life at the same time. Plus, someone is also always available to ensure that beloved furball’s bowl is full!

Do you want to know more about the idea of combining households? Check out Multigenerational Living in Ottawa: When Parents Move In.

Should I Rent or Buy After Downsizing?

Most real estate experts recommend buying over renting in nearly every situation. There are several reasons for this, such as having the freedom to renovate and update your home as you choose and never having to worry about evictions.

Perhaps most importantly, owning a home gives you the chance to build equity. However, what if you’ve owned a home for some time and are already relatively well-off? In this case, selling your existing property without buying a new one could comfortably fund your retirement for years to come.

Before deciding on this option, we recommend sitting down with a financial advisor and really thinking about what you want from your next steps. That said, many clients are perfectly happy with the freedom that comes with renting.

Repairs and home maintenance are no longer your burden, and you don’t have to commit to one place for the long term. If you’ve always wanted to explore different cities and provinces, renting may be a viable option.

Should you explore the idea of renting in more detail? Read Is It Better to Rent as a Senior in Ottawa next.

How Can I Finally Organize and Declutter My House?

On every checklist for selling a house, decluttering shows up on or near the top. Before your listing hits the market, you want to be sure it shows in the best possible light. Buyers should be able to “see” themselves living there, and they can’t if they encounter your personal belongings wherever they look.

Decluttering and getting organized sounds easy on paper. Unlike when making major renovations and repairs, it doesn’t cost anything, at least not financially. Usually, there isn’t even any heavy lifting or moving furniture involved. Nevertheless, this is one of the most emotional and time-consuming tasks when getting ready to sell.

Every single one of your belongings comes with a memory, and it’s hard to pack them all up in boxes, perhaps never to see them again.

The following tips can help streamline your decluttering process:

Ask for support from family and friends. Decluttering is one of the most daunting tasks associated with moving, and it isn’t something you should tackle alone. Even having someone around to give you objective opinions and keep you company makes the burden more bearable.

Get started as early as possible. Decluttering might not be easy, ever, but it’s a lot easier when you’re not facing a deadline.

Form the habit of everyday organization. The best way to stay clean and tidy is to not let things pile up to begin with.

Start small, and with the least emotional items first. For example, do you really need the jacket you haven’t worn in 5 years or that gadget you bought months ago and is still in the original package?

Once you overcome the initial inertia, you’ll be more motivated to keep up with your organization. Even if you’re not selling your home, the reward is well worth it. Just think of how nice it will be to live in a space that is clean and clutter-free!

On this note, we think you may also enjoy our post What Is the Art of Letting Go? How to Declutter Your Home At Last.

I’m Not Downsizing, but Maybe My Parents Should?

The question of downsizing isn’t just for when we get older. Often, it’s about keeping our loved ones safe and as active as possible as years go by. You may have recently heard your parents talk about how much work maintaining their house is.

For example, the roof needs new shingles, the furnace is on its last breath, or every room needs a new coat of paint. In older homes, maybe even the foundation itself is starting to show warning signs, and not the relatively harmless vertical lines, but the much more ominous horizontal cracks.

All of these repairs can be made, but there is no law that your aging parents need to be the ones to take care of them. A house that needs an extensive amount of work that no one is ready to face could be one sign that it is time for your parents to move on.

Another indication to look out for comes down to lifestyle. Imagine your parents are lamenting how much they want to travel or pursue some other hobby, but their time and money are all tied up in the family home. In this case, they may be happier with a smaller, more convenient space.

How do you gently approach your parents about the idea of downsizing, and how do you begin the process if they agree? Learn all that and more in Signs It’s Time for Your Parents to Downsize.

The Best Time to Downsize Is – Never?

There are homeowners who are thrilled with the idea of downsizing. The day they turn the key for the last time in a house that is too big to manage and needs too many repairs is one of the happiest of their lives.

Those people are few and far between. Most folks have at least some reservations, while others swear they will never downsize, ever, as long as they live.

The good news is you don’t have to. More and more, those of us in the real estate industry are getting away from the term “downsizing” altogether. The word tends to bring up a negative image of moving from a palatial, spacious residence to a shoebox apartment, with almost no possibilities in between. And yet, the options are nearly endless.

In many cases, downsizing doesn’t even mean less square footage. Instead, it’s all about convenience. For example, imagine living in a two-storey home with four bedrooms and two bathrooms. Your daily routine could mean constantly going up and down stairs. Next, you move to a bungalow, also with four bedrooms and two bathrooms, but with one massive, life-changing difference; everything you need is now all on one level!

Another scenario is where you go from a four-bedroom home to a three-bedroom home. An argument could be made that it’s a smaller space. But is it really, if fewer people are living there? In any case, that’s “downsizing.” Or, as we are starting to call it, “smartsizing” or “rightsizing.” It’s all about finding the perfect amount of space to suit your needs and lifestyle.

Do you want to expand your possibilities beyond traditional downsizing? Read Smartsizing Vs. Downsizing: What’s the Difference?

It’s Time for a Change! How Do I Make It Happen?

So, you’ve decided to downsize – or smartsize or rightsize. Whatever you want to call it, the real question is how to get started? The items piling up on the to-do list can quickly make you feel so overwhelmed you do nothing at all.

That’s why planning is a great first step. While you’re at it, it’s a great time to start thinking about all of the people who can help.

In fact, this support network is the most essential part of any real estate transaction, especially one as involved as selling your family home and finding the new place where you can live your best life! Who should be on that list?

Friends and family members, especially anyone who has a knack for planning and organization. Preferably, they will jump in joyfully to help with your mission, or at the very least, they can be bribed with pizza.

Colleagues, former colleagues, and acquaintances, even if they won’t be directly involved. They can possibly make referrals or provide you with empty boxes. You will need plenty of those, so start asking around now.

Movers, cleaners, and contractors. Getting your house ready for the market can be a big job if you want to maximize its value in this market. A network of professionals takes that burden off your shoulders.

A real estate agent is perhaps the most essential piece of the puzzle. We can answer all of the many questions you are certain to have. Even better, we can connect you with any other resource you may need.

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Looking for more advice on how to make your transition as seamless as possible? Check out the posts below:

• What Are the Signs You’ve Found a Great Realtor®?
• Downsizing Tips for Seniors
• What All Downsizers Need to Know About Buying and Selling in Ottawa

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Why Should I Retire in Ottawa?

You might think of Ottawa as the city for the young and hip, those at the beginning of their careers who want to be entertained, shop, sight-see, dine, hike, cycle, and play as hard as they work. Why should anyone consider living here in their retirement years?

In Ontario’s second-largest city, there is no end to the fun and exciting adventures just waiting to unfold for you. If you believe in living life to the fullest no matter how many years go by, you couldn’t ask for a better place to settle than Canada’s capital!

Vibrant neighbourhoods, trendy shopping districts, stunning natural beauty, and a wealth of friendly support networks await.

Are you ready to explore your options for smartsizing and living the retirement lifestyle of your dreams?

Our Ottawa real estate agents are happy to guide you step-by-step to the best possible outcome! Reach out to mail@chellteam.com or call 613.829.7484 to start a conversation today.