For many homeowners, downsizing isn’t about giving up space. It’s about gaining ease, flexibility, and peace of mind.
For a growing number of homeowners, retirement is no longer a far-off milestone. It’s getting closer and starting to shape real decisions.
According to Realtor.com and the U.S. Census Bureau, nearly 12,000 people will turn 65 every day over the next two years. Current data shows as many as 15% of older Americans plan to retire in 2026, with another 23 percent following in 2027.
If you’re approaching retirement too, now is a smart time to think about what you want your next chapter to look like.
Why Downsizing Is About Living Better
Retirement often brings financial changes, but that doesn’t mean life has to feel smaller. For many homeowners, the goal is the opposite.
They want life to feel easier.
Easier to enjoy.
Easier to manage.
Easier to maintain day-to-day.
That’s where downsizing comes in. Not as a sacrifice, but as a way to simplify and gain more control over how you live.
The Most Common Reasons Homeowners Over 60 Move
You can see this shift clearly in the data around why homeowners over 60 decide to move. According to the National Association of Realtors, the most common reasons aren’t about timing the market or chasing the highest price. They’re about lifestyle.
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Wanting to live closer to children, grandchildren, or long-time friends
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Choosing a smaller, more functional home with fewer stairs and less upkeep
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Retiring and no longer needing to stay close to work
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Reducing monthly expenses tied to utilities, insurance, and maintenance
Across all age groups, the takeaway is consistent. Downsizing isn’t about giving something up. It’s about simplifying life and choosing a home that fits the years ahead, not the years behind.
The Biggest Reason Downsizing Feels Possible Right Now
No matter the reason, the theme is the same: downsizing isn’t about giving something up. It’s about gaining control and choosing simplicity. And it brings peace of mind to know your home fits the years ahead, not the years behind.
And the best part? It’s more financially feasible now than many homeowners would expect.
The #1 Thing Helping So Many Homeowners Downsize
Here’s the part that makes it possible. Thanks to how much home values have grown over the years, many longtime homeowners are realizing they’re in a stronger position than they thought to make that move.
According to Cotality, the average homeowner today has about $299,000 in home equity. And for older Americans, that number is often even higher – simply because they’ve lived in their homes longer.
When you stay in one place for years (or even decades), two things happen at the same time:
- Your home value has time to grow.
- Your mortgage balance shrinks or disappears altogether.
That combination can open up options, even in today’s market.
Whether you’ve already retired or are getting close, it’s not too early to start thinking about what comes next.
Leaving a home filled with memories can be emotional, but many homeowners find that the move leads to a lifestyle that feels lighter and easier to manage.
Bottom Line
Downsizing is about setting yourself up for the next phase of life on your terms.
If retirement is approaching and you’ve started wondering what your current home and equity could make possible, the first step isn’t selling. It’s understanding your options.
A simple, no-pressure conversation can help you see what downsizing might look like and whether it makes sense for you.
The information and opinions in this article are not investment advice. Tim Stice makes no guarantees about accuracy or completeness. Always do your own research and consult a professional before making financial decisions. Tim Stice is not liable for any loss or damage resulting from reliance on this content.
Tim Stice, Broker Realtor | Hawaii Life | Maui, Hawaii | Real Estate Agent
Tim Stice, Broker Realtor | Hawaii Life | Maui, Hawaii | Real Estate Agent
