From empty nest to new beginnings: key considerations for a successful downsizing journey

Once upon a time, downsizing your home was something you did when you reached or were in retirement. However, financial pressures have led homeowners across different age and income bands to downsize their homes.

These are some of the questions you need to ask before you downsize: 

Explore property options

Look at different types of properties that suit your needs and budget. If you are moving because of empty nest syndrome, then you don’t need to be close to schools. Would a lock-up-and-go apartment suit you better than a freestanding property?

Transport

If you are downsizing for financial reasons, look at the public transport network in relation to the new place you are moving to. It will make sense if you are near a bus or train station so that you are still mobile without needing to maintain the running costs of a car.

Maintenance

If you are moving to a property in a complex, find out who is responsible for garden maintenance upfront. Also remember that face-brick homes are cheaper to maintain, since they do not need a new coat of paint every few years.

Reduced costs

Factor in all the costs. A smaller home could mean less heat and lighting costs, as well as lower water costs.

Upfront costs

You may need to spend some money on the new property, such as upgrading the security system.

Measure the space

If you are downsizing, chances are high that you will have to declutter. That is easier to handle than ending up with furniture that is too large for the new home, forcing you to live in a cramped environment.

A reader comments

Money Cents reader Neil, who downsized just more than a year ago from a three-bedroom, standalone house to a one-bedroom apartment in a retirement village after his wife died, said the following about his experience.

Lessons learnt

Be ready to move: It took Neil two years before he was ready to move.

“I put my house on the market when I was ready, not when I was forced to do so by my children or other external pressures,” he says.

“Sadly, I have seen too many retirees being shoved into a retirement home when they are not ready for it. They often really battle to adjust and end up being miserable.”

Neil adds that, if it becomes imperative to move, getting professional counselling can be a real help.

Do the research

While he was waiting for his house to be sold, Neil carried out extensive research into retirement villages in his chosen area, the northern suburbs of Johannesburg.

Factors when making a final choice

Life right or sectional title: In Neil’s case, he chose the latter to preserve his investment for his estate.

Price: It was important for him to be able to buy the property cash.

Size: He checked whether a one-bedroom apartment would be big enough for his requirements. “I planned the furniture I intended to take and made sure it would fit. I measured everything. Then I measured again.”

In terms of general planning for everyone, Neil suggests looking at:

Appearance: Is the place well maintained? Are the managing agents and/or homeowners’ association prepared to spend money to maintain the property and protect the members’ investment?

Levies: Which items make up the levy? Does it offer value for money? What does the levy not cover?

Facilities: Is there on-site nursing in case of an emergency, or frail-care facilities? What security measures are in place?

Ambience: Are people friendly and welcoming to potential new residents? Do people greet you as you walk past them? What is the “feel” of the place, welcoming or cold?

“Downsizing is incredibly traumatic,” Neil says. “I felt that I was throwing half my life away. Making the choices between what to take and what must go and then doing it again and again is an exercise in tears.

“There is no market for second-hand goods and furniture. I ended up giving most of my stuff to my children or to a charity. They were only too pleased to receive it.” 

Finally, Neil says, get involved in your new community. He realised when he moved that he couldn’t just sit at home alone. “I made the conscious decision that I wanted to be involved with ‘good’ people, people who were prepared to put something back, so I managed to get myself ‘volunteered’ for an active committee involved with arranging social events for the village residents.

“Through that, and by being open with my neighbours, I have rapidly developed a network of friends. I am now a part of a community. I have settled well and I am happy.” DM

This story first appeared in our weekly Daily Maverick 168 newspaper, which is available countrywide for R35.