Wresting with the decision to retire in place or make a move? You are not alone, as tens of thousands of retirees every day are trying to decide and make this very same decision.
If retirement is on your horizon, you’ve likely asked yourself a big question: Should I stay in my current home, or is it time to move somewhere more manageable? It’s not a one-size-fits-all decision, and the correct decision depends on your family and social needs, health, finances, and lifestyle.
As longtime real estate professionals serving Hudson, WI, and nearby Eastern Minnesota communities, we’ve guided many clients through this very decision. Whether you’re leaning toward aging in place or considering a move, here are three essential factors to help you decide what’s best.
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Aging in Place vs. Downsizing: What’s Best for You by Real Estate Experts Are you or a loved one considering aging in place or downsizing? This is a major life decision, and knowing the right factors can help you make the best choice for your future.
1. Can Your Current Home Support You Long-Term?
Staying put can be comforting, but your home may need updates to stay safe and livable as you age. This might include:
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Adding a stair lift or ramp for easier access
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Renovating the bathroom with walk-in showers and grab bars
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Widening doorways to accommodate mobility devices
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Updating flooring or lighting to prevent falls
These improvements can add up quickly. It’s worth comparing the cost of renovations to what you might spend on a newer, more accessible home.
2. What Makes the Most Financial Sense?
Downsizing has financial benefits that go beyond lower monthly bills. A smaller home often means:
Lower utility costs and property taxes
Less maintenance and fewer repair expenses
An opportunity to use your home equity to support retirement plans
Whether it’s a ranch-style home, condo, or a 55+ community, the goal is to reduce stress and expenses — without sacrificing comfort or quality of life.
3. Is It Time for a Lifestyle Change
This is about more than dollars and square footage—it’s about how you want to live. Ask yourself:
Do I want to stay close to my current community or move near family?
Am I emotionally ready to part with my longtime home?
Would a simpler space give me more freedom to travel or enjoy hobbies?
Everyone’s journey is different. The right move (or decision to stay) should match your values and goals.
Need help weighing your options? As Certified Seniors Real Estate Specialists (SRES), we’re here to make the process easier—whether you’re updating your current home or searching for the perfect downsized fit.
📞 Let’s discuss how realtor experts like ourselves can significantly assist you with your next step. Reach out and contact us today by calling 651-231-2191 for a one-on-one consultation tailored to ensure your best future.
For additional expert real estate advice from John and Becky Durham on whether to renovate your family home or age in place, click the following hyperlinks:
- Greater Twin Cities Metro: Should You Age In Place or Downsize?
- St. Croix County and Pierce County: Should You Age In Place or Downsize?
- Pros and Cons of Staying in My Home or Moving to a New Home in Retirement?
- How to Buy Your Next Home Without Selling First – Expert Strategies
- Age In Place vs Downsizing: What Minnesota Residents Need to Know Before Moving to Hudson, WI
- Hudson, WI: Aging In Place vs Downsizing – What Are the Most Important Factors to Consider?
- Hudson, WI: A Perfect Place for Retirees to Call Home
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