Although Right-Sizing and Downsizing sound like they might be similar, to me, one is about finding the right space, and the right amount of space, for your lifestyle and needs while downsizing is more about shrinking your floorplan along with your belongings:
Right-Sizing – Moving to a property that is the right size for your lifestyle. As children leave the home, people get closer to retirement, and priorities change, that large home that used to be important may become a burden. Right-sizing means evaluating what you really need in a home and making an adjustment.
Downsizing – Making a dramatic change in lifestyle, possibly from a large home to a small one or two bedroom condo, town home, or even assisted living. This may require a reduction in belongings and a financial plan. Time to map out the transition is preferred, but not always necessary.
Both of these options do require planning and strategy. Sometimes even determining what the next step should entail can be daunting!
In either of the above cases, your first step should be to reach out to me. I have helped dozens of seniors formulate a plan and take that next step. You can read more about those next step options or simply reach out for a free one-on-one, no-obligation consultation.