Downsizing Tips for Empty Nesters

If all of your kids have gone to college, living on their own, or started their own family, you are now considered an empty nester. Though a little bit sad, you can make the most of it! Downsizing is a big step for empty nesters, but it can save you a lot of money that you can use for other things like trips with your partner or family vacations every now and then. Read on for some downsizing tips for empty nesters. 

1. Let go of items you don't need anymore.

If you're moving to a smaller house, townhome, or apartment, you are going to need to downsize. Gather your kids, if you can, to help you sift through the items in your house and let them keep the things they want. If there is something of sentimental value you would like for them to keep, now is a great opportunity to do so. When you're going through your belongings, it's hard to want to get rid of things. Keep in mind this rule of thumb: If it doesn't spark joy, let it go. Or, if you can't find use for it now, sell it or donate it. 

2. Limit Storage.

When you downsize, you won't have enough space to keep all the items from your old home. Try not to rent a storage unit unless really necessary! This prevents you from keeping items you will not use and help you declutter your home.

3. Put Extra Rooms to Good Use.

You don't always have to go from a multi bedroom family home to a one bedroom apartment. You can rent an apartment with 2-3 bedrooms to keep as a guest room, office space, at home gym, or even extra storage. If you know you will have people visit you often, it is a good idea to have an extra room where they can stay.

4. Rent Out a Room.

Don't want to downsize? No problem! You can rent out a room in your house using Airbnb to give you some extra cash. This is a good business to have if you have extra room in your house. If you don't want people in your personal space, you can always convert the garage into a small apartment to rent out. 

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