Why More Older Homeowners Are Choosing to Stay Put

The Downsizing Assumption

We often hear that older homeowners should downsize.

The children have left home, there are spare bedrooms and a smaller property would surely be easier to manage. On paper, it can sound like the obvious next step.  Yet many people over 65 do not see it that way.

Across England, 58% of over-65 households are now under-occupying their home. In simple terms, they have more bedrooms than they technically need. Ten years ago, that figure was 53%.

It would be easy to assume people are staying because moving feels too difficult. In many cases, though, they are staying because they are perfectly happy where they are.

A Home That Still Works

The English Housing Survey found that 76% of older households feel their current home still meets their needs.  Almost as many, 73%, said they simply like the area they live in.

That feels very familiar here in Lancaster and Morecambe.

I regularly meet homeowners who have lived in the same house for 20, 30 or even 40 years. Their family may have grown up there. They know the neighbours, the local shops and the quickest route into town.

Their doctor, friends and support network are nearby too.  For many people, leaving all that behind is a much bigger decision than moving to a home with fewer bedrooms.

Spare Does Not Mean Unused

The spare rooms are not always standing empty.  They may be where grandchildren stay, somewhere for family to visit, a sewing room, office or simply useful storage.

A home can still work very well, even when fewer people are living in it.

That is why looking only at the number of bedrooms can be misleading. A property may appear too large on paper, but still suit the person living there perfectly.

The Practical Side of Staying Put

There is also the question of adaptations.

Around 17% of older homeowners say they stay because their property has already been altered to meet their needs. That might include a walk-in shower, handrails, improved access or a stairlift.

Moving to a smaller home could mean paying to make all those changes again.  For some, staying where they are is simply the more practical choice.

When Downsizing Does Appeal

Of course, some people do want to move.  Among over-65s considering a change, 28% would prefer a smaller property.

We see that locally too. Often, the wish is not to leave Lancaster or Morecambe, but to find a bungalow, apartment or smaller house nearby.

Somewhere more manageable, but still close to family, familiar places and good transport links.   The difficulty is often finding the right property, rather than making the decision to move.

Sometimes Staying Is the Right Move

Perhaps we should stop assuming that every older homeowner with spare bedrooms ought to downsize.  Sometimes staying put is not avoiding a decision.  It is the decision.

 

My name is Michelle Gallagher,  if you are thinking of downsizing or rightsizing and wondering if moving is right for you, let's have a chat.  I'm always here to help!