Is it time to downsize?

Last reviewed October 30, 2026

There's no age at which you "should" downsize. Some people move in their fifties, as soon as the last child leaves. Others stay in the family home into their nineties with a little help. The right time depends on your health, your finances, your home and what you want your days to look like.

Signs it might be time

The house is working against you

• Stairs have become difficult, or you've started avoiding parts of the house.
• The yard, gutters, snow and maintenance feel like a burden rather than a pleasure.
• Rooms sit unused, but you're still heating, cleaning and paying taxes on them.
• Big repairs, such as a roof, furnace or windows, are coming, and you'd rather not invest in them.

Your life has changed

• Children or grandchildren live elsewhere, and you'd like to be closer.
• You've lost a partner, and the house feels too large or too quiet.
• You'd like to travel more and worry less about an empty house.
• You want to be nearer to doctors, shops or transit, especially if driving may become harder.

Your finances suggest it

• Much of your wealth is tied up in your home, and you'd like more of it available for retirement.
• Property taxes, utilities and maintenance are taking a bigger share of a fixed income.
• Your mortgage is coming up for renewal and you're weighing your options. See renewal time.

Good reasons to wait

• You love your home and it still works for you. If you're managing well and enjoy it, there's no rush.
• The numbers don't work yet. In some cases, the costs of selling and buying (commission, land transfer tax, legal fees, moving) mean a smaller home doesn't free up as much money as you'd expect, especially if the smaller home you want is in a pricier area.
• You're not emotionally ready. That's a legitimate reason. Moving before you're ready can lead to regret.
• Small changes might be enough. A main-floor bathroom, a stair lift or a snow-removal service may let you stay comfortably for years. See staying put vs moving.

Why earlier is often easier

Moving is physically and emotionally demanding at any age. Doing it a little earlier, while you have the energy to sort, pack, settle into a new neighbourhood and make new friends, tends to make the whole process easier. Planning ahead also gives you time to wait for the right home, rather than taking whatever is available after a sudden change in health.

Questions to ask yourself

• Which parts of my home do I actually use in a typical week?
• What maintenance do I do myself now, and what would I pay for?
• How would I manage if I couldn't climb stairs for a few months?
• Do I want to be closer to family, friends, healthcare or amenities?
• What would I do with money freed up from selling?
• How do I feel about leaving this neighbourhood?

Getting the facts before deciding

You don't have to decide anything to gather information. Two things help most:

1. A market evaluation of your current home. A local agent can tell you what similar homes nearby have sold for recently, with no obligation.
2. A look at what's available. Browse bungalows and condos in the areas you'd consider, and visit a few open houses, just to see.

With those two pieces, you can sit down with a financial advisor and see what your options really look like.

If the decision feels overwhelming

Break it into small, separate steps: getting a valuation, talking to family, visiting a few homes, decluttering one room. None of these commits you to moving. Once you've done two or three, the right answer often becomes clearer.