Why do people downsize to retirement living

Our McCrindle Baynes Village Census research shows that most people don’t want to leave the family home, understandably, as it represents all the good things in life for most of us.

However the same research covering over 15,000 retirement living residents identifies that this attitude changes when an event occurs in our life that makes us reconsider our housing plan. 

The three major types of events are a physical event, a financial event or an emotional event.

Physical Event

 

 

 

  • A physical event could be as simple as finding it hard to look after the garden or climb the stairs to the second level or carry the groceries. Or it may be a fall in the garden, breaking a limb. It is time to look for an easier and safer home. 

 

Financial Event

 

 

 

  • A financial event often involves looking forward and considering whether you have enough savings and wealth to maintain the house, support your own medical health and have enough cash to live well for the rest of your life - and your partner’s life.

 

Emotional Event

 

 

 

  • An emotional event often involves loneliness and isolation. The loss of a partner or no longer being able to drive or simply that your neighbours and the neighbourhood has changed. 
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