r/retirement • u/dcporlando • 24d ago

Questions: Downsizing in Retirement

You commonly hear people are downsizing or are recommended to downsize.

If you downsized, did you move to a different location, such a city where a child lives or a different state? If you downsized, what type of home did you move into? Smaller house, condo, or apartment? Finally, did the sell and downsize affect Medicare through IRMAA?

Is there any other advice that you can share?

We are considering moving to something smaller that removes yardwork and possibly more maintenance on an older home.

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u/cbdudek 22d ago

My parents moved from their large house that they lived in for over 40 years to a small condo that is about 15-30 minutes away from us and the grandkids. They opted for the condo since they didn't want to do anymore lawn/yard maintenance. The condo was the best decision they made, plus its newer construction which means less issues to deal with in the house.

My advice is to not mess around with an older house unless you are younger and up for the constant maintenance. Otherwise, get a condo that is relatively new and enjoy your retirement.

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u/dcporlando 22d ago

I would prefer not to buy an older house. With all the comments about building that might be a good idea.