Downsizing after Gray Divorce The idea of moving to a smaller home often starts to make sense after children leave. It is not an easy decision as it is hard to leave the house where your children grew up. Another reason to downsize is after a divorce. Deciding whether to downsize after a divorce depends on finding a balance between your lifestyle needs and your new financial reality. A reason you may decide to stay put is that re-entering the property market can be expensive. Moving is challenging at the best of times, especially when going through a trauma like a divorce. However, if you do decide to downsize, it can save on costs and give you a fresh start. Why to downsize? A smaller home means lower mortgage payments, utility bills, property taxes, and maintenance costs. Moving out of your marital home can also help you to leave the past behind. When you have less space you need to get rid of clutter which can feel freeing. You need to ask yourself certain questions before you just make a decision to downsize. It isn’t wise to make hasty decisions, especially in the midst of a divorce. Housing prices keep rising in many areas so selling your family home may leave you with a considerable sum of money. Saving on maintenance, utility bills, etc. could give you better cash flow. Less upkeep means you have more time to spend on activities you enjoy. How to declutter and prepare for downsizing If you have lived in your current home for many years, there may not be enough space at the new property for all your belongings. This gives you the opportunity to get rid of items you’ve collected over the years that don’t matter to you. That lightens your load so you can focus on your recovery and finding out what you love. Objects matter as they carry memories and make your home unique. Don’t drag everything with you but you should also not be too quick to get rid of items and have regrets later. Here are some tips on how to downsize your home. You will also need to make sure your current home is in the best possible condition before you sell. A good agent will usually give you some input on small improvements you can make. Choose where you want to live Downsizing gives you the option to choose to live where you want to live. It may be closer to one of your children or in a place where you’re in walking distance to many amenities. You may decide to move into a retirement complex where you will find it easier to meet new people. Your decision of where to live will depend on how you want to spend your time and who you want to spend it with. Handling the emotional side of downsizing If downsizing feels negative, reframe it by calling it ‘right-sizing’. Remember that downsizing comes with many benefits and you need to focus on how it can change your life for the better.