“Downsizing” after the kids leave seems to be a frequent occurrence. “Downsizing” is not “decluttering.” Downsizing is moving into a smaller residence, whether in the same community or an entirely new one. Decluttering may be a necessary action in order to downsize, but the reverse is not true. I have not downsized, but I have been decluttering for some time now and will continue to do so.
I think a little history will help set the context for my decision not to downsize. It may also describe the circumstances of many other people facing the decision of whether or not to downsize.
My current residence is a five-bedroom, 3.5-bath home with about 3,900 square feet of finished living space in a neighborhood that was close to schools our children were and would be attending. It was also conveniently located for groceries, shopping and activities. At the time my home was built, I had three children, and we were expecting our fourth. To accommodate our growing family, we needed to add on to our existing house, find a new house in the neighborhood that would meet our needs or build a new one. We did not want to leave the neighborhood. However, there were no available existing homes in our neighborhood. Because a new subdivision had opened adjacent to our neighborhood, we explored building a new house and found it more cost-effective than expanding the existing home. So, we built the new home and moved in literally the day before our fourth child was born. Ultimately, we had two more children and raised all of them in our home. The space was necessary to accommodate all of them, and the location was as convenient for schools, groceries, shopping, and activities.
In 2010, our last child left for college and in 2014, he graduated and found employment. We were truly “empty nesters” at that point, and we did not “downsize” then. Nor did we consider that option at the time. Only one of our children currently lives in the Des Moines area. Our eldest daughter and her family of three girls live only four blocks from our home. The remainder of our children and their families are scattered around the country.
I have not yet retired, although retirement is not that distant. After the question about whether or not I have retired, the second most frequent question I am asked is: “Have you or do you plan to downsize after retirement?” My answer is: “No.” You might ask, “Why not?” Well, read on for the reasons why not only me, but also many others choose not to downsize.
The decision of whether to downsize is a personal one. It is not for everyone. For some, the size of their current home is the “right size.” The space is manageable, and the current home accommodates family gatherings. In my case, when my family is together, we need space for ten adults and eight grandchildren. A smaller home would not work. Furthermore, I like having the extra space and openness our current home provides even when our family is not together.
I am in good physical health. I am able to handle the “chores” of owning our current home, such as cutting grass, gardening, clearing snow, pruning trees and bushes, and the like. For those I am unable to perform, I can hire people to handle them at a reasonable cost. All of this is true for other people as well. Good health and being able to manage the “chores” for the current home are other reasons people do not downsize.
Many people are comfortable in their existing homes. They are close to family where they currently live, which is very important to them. Important life memories have been experienced while living in their existing home. Moving to another desirable location as part of downsizing would be uncomfortable and would not bring them closer to family. They would be leaving the place that holds cherished memories. Each of these are reasons why I am not ready to downsize. I may be sentimental, but I like sitting in my home and remembering all the birthdays, holidays and life events I have shared with my family in our home. It is rich and rewarding to me.
People choose to stay in their current homes because they like their neighbors and neighborhood. Their relationships with neighbors provide meaningful social connections, which are important for happiness and life satisfaction.
Economics may be a determinant in the decision not to downsize. Some people, like me, can afford to stay in their homes despite rising taxes and insurance costs and the need to make repairs and maintain their homes. I view paying the costs of maintenance and repairs and making upgrades as an investment in our home that will add value and be recovered when we are ready or are forced to downsize. While there may be appreciation in current homes that could be captured by downsizing now, the cost of the downsized home in a different location may be too expensive. Additionally, there may be income tax to pay on the appreciation. Real estate taxes and insurance costs for the downsized home could be higher than what people are paying for their current home. If a person needs a mortgage loan for a downsized home, the mortgage payment may be higher than what that person is willing to pay. Current interest rates are much higher than the average interest rate for 30-year residential mortgages from 2008 to 2022 (Mortgage Rate History: 1970s to 2025).
Assuming one has the financial resources to do so or can afford the mortgage that might be required, a homeowner could transform the current residence into the living space the homeowner desires. Remodeling and building projects that add value to a current residence may increase the overall value of the home while providing the enjoyment the homeowner desires.
As stated earlier, whether to downsize or not is a personal decision. Whatever your personal reason(s) may be to choose not to downsize, you are not alone in making that choice. Many people, like me, have and will make a similar choice not to downsize and stay in their homes.
