Does Downsizing Work for Older People?

By
Real Estate Broker/Owner with REAL ESTATE REFERRAL NETWORK 209970

In a recent talk with a colleague, I discovered that eighty (80) percent of Older People today live in their own homes. 

In planning for independence in the future so-called “senior citizens” and “leading edge baby boomers” not only experience the process of change as they add on decades, but have a new awareness of certain steps to take to make the journey easier.

Given this new perception, it seems unlikely today’s older adults will choose to move to “old folks' homes.”

The common dialogue these days goes more like this: “Please do not patronize us as 'senior citizens' – because, despite certain negative stereotypes about aging, we really are quite clear about our choices for a place to live for a lifetime."

Is one of those choices investing in a smaller home- or downsizing? 

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Comments (5)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

The moving process just overwhelms many. Thank you for the share, we made it to the weekend. Relax and reload for the new week. bill

Mar 26, 2022 07:13 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

This "old folk" and her husband have no interest in moving to a place where we are surrounded by old people. We downsized (or should I say right-sized?) 16 years ago from just under 6,000 square feet to about 3,400 square feet. 

Mar 26, 2022 07:41 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

ASHEVILLE REALTY REFERRAL RESOURCE 828-776-0779 I am not looking to move into the old folks home, but downsizing will be in my near future.

Mar 26, 2022 01:34 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

We rightsized when we bought the house, we currently occupy. Space, 3 steps to get into the house and all on 1 level.  We are here for the long haul

Mar 26, 2022 03:30 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Mar 28, 2022 04:00 AM