Downsizing not downgrading

Tuesday, March 1, 2022 12:24 pm
Reading Time: < 1 minute

Whether it is for freeing up equity, make use of  government incentives, or wanting a home with less maintenance, downsizing is a viable option.

However, only 26% of those over 55-years-old and even fewer among the younger have made that financial decision. Why are people hesitating to downsize? Who should downsize and what are some things to consider.

  • 26% have downsized
  • 42% would not consider downsizing
  • 30% might consider downsizing
  •  15% have been forced due to a crisis.

“If you are retired, have a conversation with your family members. The part you don’t want to be is that 15% that hits crisis mode and you’re forced to downsize and then there’s very few options available.”

Are you considering downsizing? Let us know your thoughts by texting or messaging us on socials. Listen to the full chat below!

Skip to toolbar