As you inch closer to retirement, you might be considering downsizing your home as a strategic move for your next phase of life. According to the National Association of Realtors, 29% of homebuyers 55 and older moved to downsize in 2023. While downsizing often provides substantial financial and lifestyle benefits, it's important to be aware of relevant considerations and challenges before making a final decision.
To ensure your plan aligns with your overall retirement strategy and goals, here are some considerations to be aware of when discussing downsizing with your spouse, adviser and family:
