At What Age Should Seniors Downsize?

Photo of older woman and man at the gate of a retirement community common area with tennis rackets in their handsNot all older Americans choose to downsize as they move into retirement. But for many, trading in a large house and yard for a smaller home in a place where they’ve always wanted to live—like Central Florida—can be the ideal solution to the challenges that retirees typically face. Some of the advantages include:

  • Less time, energy, and money spent on home maintenance
  • More time and money available for social and recreational pursuits
  • The potential for reduced housing costs

In fact, a recent Merrill Lynch survey found that 64% of retirees who choose to downsize are looking to lower their housing costs, while 44% want more freedom from dealing with home upkeep.

Seniors who move to a smaller home also have the option of choosing a new setting for their Act 2—a location that will allow them to reduce expenses even as they maximize their options for doing the things they’ve always wanted to, such as golfing, fishing, and boating. For this reason, Central Florida has long been a retirement destination, thanks to its year-round mild climate, retiree-friendly tax policies, relatively low housing costs, and practically endless opportunities for sightseeing and recreation.

Timing Is Key

If you’re planning to put your oversized house on the market and retire to Florida, there’s little to gain by hesitating. Although there’s no ideal age for downsizing, experts say making the move as soon as possible is a good idea for seniors’ wellbeing and their wallets. When career or family obligations no longer require that you stay in your existing home, delaying your move can lead to unnecessary stress and increased costs related to selling your home. This is because the longer you wait, the more wear and tear will occur to roofing, heating and cooling systems, and other expensive housing features, thus increasing the likelihood that they will need replacement before putting your home on the market.

If you’re an active adult 55 or older who’s seeking an affordable home that comes with an enviable lifestyle, make sure you take a close look at the five communities operated by Blair Group. Our gated communities offer year-round resort-style living in some of the most sought-after locations in Central Florida. Contact us today for more information.