Should you downsize your home at retirement?

Should you downsize your home at retirement? hero

For many, retirement is just around the corner. Maybe you are counting down the days until you finish work, excited to have lots more time on your hands, or perhaps you are a bit tentative about it all.

No matter how you feel, you need to start thinking ahead, especially when it comes to property.

Should you downsize your home at retirement?

There are plenty of pros and cons to consider when making this decision, and it shouldn’t be taken lightly.

 When thinking about the next steps leading up to your retirement consider the below points carefully.

General upkeep of your home

Keeping a larger home clean, tidy and in good working order is no easy feat. You need to consider whether this is something you can continue to do as you get older.

You also need to consider the future, if walking becomes harder, will you still be able to climb up the stairs to bed or will you be stuck on the ground floor? Of course, if you have a bungalow this isn’t an issue, but upon retiring you need to look further ahead and decide whether you can continue to keep the house maintained.


By now you may well have paid off the mortgage on your property, which means that the amount you sell the property for, minus any fees, is solely yours. Even if you go on to buy a smaller property you could still be looking at a fair bit of extra money in the bank. Also take into consideration the money you are likely to be saving on bills if you do downsize and the numbers increase.

Retirement is all about being able to make the most of life out of work, so wouldn’t you like that extra bit of money to spend on holidays, that car you have always wanted or that hobby you want to start?

Perhaps you want to put some away for your grandchildren’s education? Whatever you want to spend it on, it’s yours and downsizing your house after retirement could help you enjoy your free time even more.

Who are you really moving for?

Whilst considering whether you should downsize after retirement, make sure this is your choice. Don’t let anyone pressure you into moving.

Leaving your family home can be an emotional time, as many memories were made there, and the property will hold a lot of sentimental value. So, make sure you are the one having the final say and don’t let friends or family pressure you into making a choice you don’t want, you may regret it later.

Location, location, location

If you have lived in this house for a considerable amount of time, it is likely that you have made friends and may have family living nearby. When thinking about moving consider your surroundings, do you want to stay at your current house only because of those around you? If so, are there smaller properties nearby you can potentially look at.

If your only reason for not moving are your friends look for alternatives such as nearby neighbourhoods. Alternatively, perhaps your friends/family live slightly further afield, meaning this could be your chance to be closer to them. Also consider any hobbies you have or want to take up during retirement and make sure the area offers you the chance to do these.

At the end of the day, the question of should you downsize your property at retirement, is one that only you and potentially your significant other can answer. It is a big decision so take your time and don’t rush into anything.

However, if you do decide to downsize, we are here to help.

How Jones Robinson can help

 If you decide to downsize your home at retirement, we can help you sell your property to get the best value.

With over 40 years’ worth of experience behind us we have a wealth of knowledge and expertise when it comes to supporting you through your house sale.

Everything will be at your pace from the viewings to the final sale. You don’t need to rush any decisions and we will give you as much support with the house sale as you need. We can even help recommend house clearance and moving services and can assist in finding you a new home in your perfect location.

We are always open and honest about your property sale. Whether this is your first house sale or your 10th we are always happy to go through the full sales process with you.

This will ensure that you know exactly what to expect. We are also always at the end of the phone or email should you have any questions or queries.

As a local estate agent in Newbury, Lambourn & Hungerford, Didcot, Marlborough, Devizes, and surrounding areas we can also support you with recommendations for any local commodities or ideal locations for your new home.

To find out more about how we can support you through your downsizing contact us today.