Are you planning to downsize when you are older?

[D20]

What age/life stage are you aiming for? We’ve always assumed at some point we will downsize (physically) when we retire. Our Mortgage will be paid off, kids will be well on their way into adulthood. Both of our neighbours are now in their 70s and in failing health but no plans to move so I wonder if we’ll end up the same.

Wholeheartedly agree, we have hobbies and interests that require space, DH is a keen cyclist and has 4 bikes plus we also have a couple of fancy cars which he spends a lot of time on and we both do outdoor pursuits, we also like to have our own space within the house and to be able to entertain guests etc, health permitting we intend to continue with our busy lifestyle well into our seventies, we won’t be ready for a smaller lifestyle or a smaller house until proper old age.

I can totally understand this.
Their 'hobby' or their activities suit a house that they can lock up and leave.

Good for them that they moved to what they needed.

Agree. DH, 62, retired and went back to work 2 years ago, partly needing some more money, part bored stiff. He loves it.
We’re looking for a house now, having sold our previous house we were in for 30 years.
We’re in a pricey area now, so a modest 3 bed detached, we’ll be looking £650.
Plan to maybe downsize and move area when DH is about 70.
We’ve made a conscious decision not to downsize too much or too soon. Why? I get if health is declining or money is a concern, but otherwise I’d just feel old and find it all a bit depressing.
My DSis & BIL are in their 70s and have no intention of leaving their large 4 bed.
They have a large garden and my sister does all the gardening.
I watched my parents, in their 60s, retire to the coast and my Dad declined before my eyes. He’d always been so active, working, had his own business and full of life. It was sad.

Yes, going through the process now. Can’t wait.

My dream. Sadly not in my reach!

I am planning to downsize the moment the kids are paying for their own housing. Looking forward to swapping a family suburban home for a city dwelling apartment somewhere nice.

Not planning on it unless the stairs become a huge problem (think that we'd just get a stair lift fitted if needed though) - third floor can become a guest bedroom/older child refusing to leave home room as it's got its own bathroom up there and we wouldn't need to get up there at all, so as long as we can still get to the first floor - we'd be fine here, plus it's well connected for transport and able to walk to shops if we ever became unable to drive.

I'm late '50s and don't think I could face moving again 😬

I am already state retirement age - and fit, healthy and very active...and already live in a modest sized house (London)..

I might move to get something more suited to living with mobility issues (e.g downstairs toilet) but the fact that my parents maintained a house big enough for us all to visit meant that we all kept up regular contact, taking grandchildren to stay etc.

I'm absolutely in the no downsizing, I have hobbies camp. When I retire and have more time to potter around at home, I want more space, not less!

My hobbies are quiet sorts of things like a spot of swimming, running or art.

DH plays drums and brass instruments. I don't know how we downsize without at least acquiring a soundproof basement.

Yes, but depending on finances. I'd like to live to a small flat I have in London, but at the moment I let it out and I get over £24k a year - my main income. The house I live in now with my DD (18) has an 'excellent' primary nearby and walking distance to tube so thinking ahead would make sense for her to have it in the future. It's the perfect size for a family with, say, two kids.
My other child is some distance away and don't think he wants to live in London.
I want to be closer in, within five minutes walk of cafe, shops and tube.

I downsized when widowed to a lovely 2 bed semi with small sunny garden. It's cosy and cheaper to heat. Did a massive declutter, bought new furniture and totally updated it. I love it.

@steppemum I think for my Dad it was after my step-Mum died that he didn’t want to try and manage in the house by himself. With help, they could manage with two of them, but he was miserable once she’d gone. Plus it frustrated him that he couldn’t safely garden anymore (too wobbly on his feet) and he had to leave it to a gardener-who was lovely, but for him, the garden was his, he didn’t want someone else doing it. 😂

@Polishedshoesalways My Dad’s having a whale of a time in his retirement flat, he’s sociable and there’s lots going on there and in the town. He’s not ready to pop off yet!

I do and DH doesn't.
To be clear I would still want a similar size house but in a small market town instead of a tiny village, somewhere I could walk to a shop.
We've lived in this house 38 years and I still love it to bits. It's a four bed 4 reception barn conversion. We are 66 and 74 and had the discussion on moving somewhere less rural last year. We looked around and couldn't find anything we liked. House round here can take years to sell which would be stressful. Next door has been for sale over a year. It's a lovely bungalow all renovated but won't shift. While I could have insisted on moving I chose not to and we are staying put. Lots of much older people in the village so it's possible to manage.

I know two people who did this. Great for the first couple of years, loved it. Then the noise, the people, the lack of space got them down, and they ended up back in the country with space and green countryside on their doorstep.

I already live in a pretty small house ! However we may in future look towards a bungalow or a flat in a development. Would need to be in flat walking distance of a shop and a bus stop with a nice view and a small garden or terrace. I don't know what the optimum age to do this would be? 75 may be ? Not too young as having stairs is beneficial . If we do stay here forever we would need to make some alterations as our only bathroom is downstairs .

@Flopsythebunny

There isn't a shortage of large homes up north but there is a shortage of smaller 2/3 bedroom houses and bungalows

That was my thought - so a lot of people simply downsizing as they get older (if not going for specific retirement places or bungalows) are competing for the same market as first time buyers.

When we returned to the UK from abroad about 14 years ago we decided we didn't want a big house like the one we had lived in abroad. DS was off to university in the UK so we took the opportunity to buy a small, fairly future proof bungalow that requires minimal maintenance and cleaning. We also spend quite a lot of time travelling so it's easier to lock up and leave.

We purchased in walking distance of a nice small town in Wiltshire and we're very happy here. If I have any regrets it's that we aren't a tad nearer the sea and an A&E, having needed it a couple of times last year. We're now late 60s and probably won't move on unless all my lovely neighbours pop off, highly likely as we're pretty much the youngest in our road, and are replaced by awful ones.
I certainly wouldn't leave moving after early/mid 70s, I've seen how daunted relatives in their early 80s are by the whole process.

3bed detached adult SEN son still at home

both retired now, no mortgage 66&69

Both been thinking of 2 bed grd floor apartment
like the idea of just walking in garden/patio area
in an area we like
just none coming up for sale 😡
same price as our 3 bed detached

Maybe. We've just bought our forever home on the south coast. In our early 50s and still working and running a business from home. I'm an only child and will presumably inherit whatever my parents haven't spent. We both have hobbies that take up a lot of space e so need the room right now but expect that to tail off a bit as we get older.

When our parents are no longer with us we may well pool all inheritance and house sales and live fabulously in a city somewhere. No children, so only us to spend it on.

Yes- currently upsizing but imagine we'll only be there about 15 years until DC leave home and then we'll buy a smaller "lock up and leave" where we live now and maybe another small home or apartment abroad to winter in.

I plan to move into a three bed (which we currently rent out) when I’m seventy. Once the DCs have moved on I don’t want to rattle round this place, plus the garden will become too big to manage. I envision locking up and leaving the smaller property and travelling the world, spending three months at a time in a warmer climate. I’ll miss having a cat, though.

I'm widowed, nearing 70 and in a massive house. Downsizing where I am in Melbourne is very difficult as I'd be paying a shitload to get way less than I have and no profit for me. I can walk to the doctor, dentist, supermarket, library, beach, butcher, fishmonger, restaurants, little theatre, 10-minute drive to A&E and railway station.

I would only consider a single-storey house, or house as they called here, and they are either massively fixer-uppers or tweaked out of my price range. Units come with management costs. Bleurghhh.

I'll stay where I am and keep the house in shape as the storage facility of mum

I forgot, it's also where my friends are.

Yes. And something for those pissing and moaning about "Boomers" rattling around big houses need to remind themselves of before they open their gobs.