Is Rightsizing the Same as Downsizing?

If you are 55+, look around your current home. Consider how your needs have changed. Are you thinking about having fewer rooms and more storage space? Or a wide-open living area, as opposed to a closed-off kitchen, dining room, and living room? Without necessarily realizing it, you’ve begun considering the prospect of rightsizing.

While living in a larger home may have been ideal when you were raising a family, as you get older, the advantages of all that space may be dwarfed by the costs in time, effort and money to maintain it. At this point in your life, you may be looking for a home built with features that simplify everyday living and provide safety, comfort, and convenience. This is why nearly 4 million homeowners over 55 plan to rightsize or downsize.

What Is Rightsizing?

 What is rightsizing? It is the process of finding a home that is the right size for your needs as you enter the next phase of your life. A home that has the right amount of upkeep and space, and better aligns with a possible reduction in income after retirement.

Rightsizing vs. Downsizing?

What is rightsizing vs. downsizing? Downsizing usually applies to buying/moving to a smaller home while reducing your possessions, often driven by financial considerations. Rightsizing is about finding a home that makes sense for you at a given point in time. While that might mean a smaller home, it might also mean a home that is the same size but with a better layout. Rightsizing means creating a comfortable balance. Instead of downsizing to make more space, try rightsizing to better utilize your space.

The Benefits of Rightsizing

Rather than concentrating on the size of a home, rightsizing is about creating a lifestyle that is more aligned with your unique needs. Rightsizing requires asking what’s really important, and then arranging the way you live to meet those values, goals and needs. When you do that, you’re able to create a simpler, more fulfilling life.

Here are a few of the benefits of rightsizing:

• Less Maintenance. Smaller homes equal less time cleaning, making repairs, and otherwise doing maintenance. If you’re rightsizing to a NewStyle community, you’ll be able to stop worrying about things like lawn or exterior maintenance. You’ll have more free time to spend with your grandkids, taking vacations, or simply relaxing in your new home.
• Less Stress. Maintaining larger homes with unused spaces can be stressful. That stress is compounded if you no longer have children or a spouse to help you out or if you’re spending a significant amount on a mortgage and don’t have extra money for repairs or professional services. Rightsizing allows you to enjoy free time rather than feel anxious about what needs to be done to care for your home.
• More Disposable Income. In most cases, a rightsized NewStyle home costs less than a larger one. When mortgage payments go down (or disappear completely if you’re able to buy your new home outright), you have more disposable income. This can be used to travel more, beef up your retirement fund, pay off debts, or contribute to the kids’ college funds. No matter what you use it for, trading unused space for more money can be a good trade-off.
• A Fresh Life transitions are often the impetus for rightsizing. Many homeowners who rightsize do so under challenging circumstances, such as losing a spouse or having their kids move away from home. Moving to a new home can be a fresh start. A new home means a chance to make new memories in a space that better fits your new lifestyle.

What Are The Best States for Retirement in the U.S.?

 Your children and grandchildren are here… You’re returning to your roots… You vacationed here and fell in love with the beaches and mountains… Whatever your reasons, there’s no denying that North Carolina and South Carolina are among the best states for retirement. (It’s no coincidence that NewStyle Communities are located here, either!)

What makes North Carolina and South Carolina so special for retirees?

 

North Carolina

If you could create the ideal place to live, North Carolina would be near the top of the list.

Year-round moderate temperatures, so that you can enjoy the outdoors (hiking, biking, fishing, boating, camping, golfing…) whenever you’d like. A low cost of living and great tax benefits, so your hard-earned dollars go further. Beautiful scenery everywhere, with golf courses, state & national parks, the ocean, and the mountains close by. Culturally rich cities where art, music, and world-class dining are a way of life. Easy access to highways and airports so that family and friends are never too far away. With all of these features, retirees are taking notice. In 2018, according to the U.S. Census Bureau, North Carolina was the third most popular relocation destination for people 60 years and older.

 

South Carolina

In 2023, South Carolina ranked 2nd to Florida as the destination for retirees. (Nearly 27% of people moving to the Palmetto State were retirees!) What’s the attraction? While it shares many of the same characteristics as Florida (sunny weather, beaches, golf courses, water sports), South Carolina has a much more relaxing vibe. There’s less traffic, fewer people, and a lower cost of living. While it offers warm weather year-round, South Carolina is less tropical than the Sunshine State. And there are actual seasons! The long coastline offers ample opportunities for sailing, fishing or hanging out on the beach. And with more than 90 golf courses, Myrtle Beach is known as “the Golf Capital of the World”. For those less interested in coastal life, Greenville is a popular choice. Located in the foothills of the Blue Ridge Mountains, this charming city offers cooler weather and amazing food.

 

Contact NewStyle Communities for the Best Homes in 55+ Communities!

 If you’re ready for a new home that fits your wants and needs, keeps you comfortable, and opens a new world of possibilities, we can’t wait to meet you! For more information about NewStyle Communities in North Carolina and South Carolina, contact us and we’ll get you started.