As we approach old age, the decision to move from a long-standing home becomes more significant. It’s a step filled with emotions, practical considerations, and planning. But who defines old age?
In April, quoting a wide ranging US/German study, The Washington Times noted society is,
“Redefining ‘old age’: 75 is the new 65”
It suggested: “perceptions of when old age begins are changing, with individuals delaying the age at which they consider themselves or others to be “old” — pushing up to 75!”
While everyone’s situation is different, 75 is now an ideal age to downsize or transition to a new environment. Or, maybe you are younger and want to downsize the size of your garden so you can enjoy your retirement taking those holidays you promised yourself.
By 75, many of the key factors that influence a move — health, finances, lifestyle, and future needs — align well with a life change.
The purpose of this blog is to help you and your family understand why moving at this age can provide more freedom, security, and comfort in your later years.
We’ll also explore the risks of waiting too long and how this can make the process more difficult.
Lastly, we’ll discuss the financial benefits of downsizing and how releasing equity from your home can allow you to enjoy life, travel, or even help your closest family members.
The advantages of moving at 75
1. Maintaining control over your decisions
By the time you reach 75, you may still be in good health, mentally sharp, and capable of making clear decisions about your future. This is one of the biggest advantages of moving earlier — you get to make decisions on your terms. Rather than waiting until health concerns or a sudden event forces your hand, you can carefully plan your next steps, choose your ideal location, and make a move that reflects your needs and preferences.
Moving when you still have control allows you to select a home that suits your lifestyle, whether that’s a smaller home near family, a property in a retirement community, near amenities or somewhere that is more accessible and easier to manage. Having the time and capacity to make these decisions means you’re moving to your schedule, not because you’re forced to.
2. Physical and emotional ability to manage the move
Moving is physically and mentally demanding, no matter your age. It involves decluttering, packing, sorting through belongings, and often downsizing. By moving, when you’re still relatively active and capable, the process becomes more manageable. You’ll have the energy to participate in the decision-making and to direct the logistics of the move.
Waiting until you’re older and possibly facing mobility issues or declining health could make the process much harder. Health conditions that develop with age — such as arthritis, reduced stamina, or the need for medical care — can make even the simplest tasks feel overwhelming. By moving earlier, you make sure you’re physically and mentally prepared to handle the transition with ease.
3. Emotional transition and adjustment
Leaving behind a home filled with memories is often one of the hardest parts of moving. However, moving now allows you to make this emotional transition when you’re still adaptable and more open to change. You’ll have the opportunity to downsize at your own pace, deciding what to keep, what to sell, and what to donate. This allows for a more gradual, thoughtful transition to a new living situation.
In addition, moving earlier gives you time to adjust to your new home, whether that’s a smaller residence or a retirement community. You can settle in, meet new neighbours, make new friends and build new routines without the pressure of immediate health needs or a rushed decision.
4. Adaptation to a home that fits your future needs
One of the most important reasons to move now is that it allows you to prepare for future health or mobility needs. By choosing a home that accommodates potential challenges, you can avoid having to move again later on when things may be more difficult. Whether it’s selecting a single-story house, a property with accessible features, or moving into a community with healthcare support, making these decisions early ensures that your new home will suit your needs as you age.
Many retirement communities and downsize properties offer features that support ageing in place, such as stair lifts, or community-based healthcare services. Moving into a more suitable home while you’re still independent allows you to settle in comfortably and be prepared for whatever the future holds.
5. Financial benefits of downsizing: releasing equity
Another key advantage of moving now is the financial freedom that comes with downsizing. Many people in their 70s are living in homes purchased decades ago, which have appreciated significantly in value. By downsizing to a more manageable property or even moving to a less expensive area, means you can release equity from your home — freeing up funds to use in a variety of ways.
This newly released money can be used to enhance your lifestyle in retirement. Whether it’s travelling, going out with friends, or enjoying hobbies you love, having extra cash on hand can enrich your quality of life. You might also choose to use this money to help your children or grandchildren, offering them financial support when they need it most.
In essence, downsizing not only reduces the physical demands of maintaining a large home and/or large garden, but it also provides financial flexibility to make your later years more comfortable and fulfilling.
Why waiting too long can make things harder
1. Health decline and limited mobility
The unpredictability of health is one of the biggest reasons not to wait too long to move. As we age, mobility issues, cognitive decline, or sudden health problems can arise, making it much more difficult to manage a move. A serious health condition could even force a rushed move to a care facility or assisted living, leaving you with fewer options and less control over the process.
Moving at around the age of 75 allows you to make decisions based on your future needs, rather than reacting to a crisis. By choosing a home that can support you as you mature, you’re preparing for potential health challenges without the added stress of managing a move during a difficult time.
2. Fewer options and reduced time for planning
Waiting too long to move can limit your options. The longer you wait, the fewer choices you may have in terms of housing availability, particularly if you are looking in popular retirement communities. Additionally, time may not be on your side when it comes to finding the right property and organising a move. When health concerns or other life changes arise, you may need to move quickly, leaving you little time to plan or consider your best options.
By moving earlier, you give yourself the time and freedom to research, plan, and choose the perfect home. You can make a well-informed decision without the pressure of time constraints or sudden health changes.
3. Stress on family members
When you delay moving until it becomes necessary due to health or other issues, the responsibility of organising the move often falls on your family members. This can create stress for your loved ones, as they may have to make decisions on your behalf or manage the logistics of a rushed move. This situation can be emotionally challenging for both you and your family.
Moving while you’re still capable of making decisions and managing the process, takes the burden off your family. They can be involved in a supportive role, rather than having to handle everything. By planning ahead, you also ensure that your wishes are respected, rather than having others make decisions for you under pressure.
Pros and cons of moving around age 75
Pros:
- Control over the process: You can make decisions based on your needs, preferences, and future plans.
- Easier physically and emotionally: Moving while still active makes the process less exhausting.
- Financial benefits: Downsizing can free up money for travel, hobbies, or family support.
- Adaptability: You’ll have time to adjust to your new surroundings and establish routines.
- Relief for family: Moving earlier takes the pressure off your loved ones to manage a move later in life.
Cons:
- Emotional attachment: It can feel difficult to leave behind a home filled with memories.
- Financial considerations: The cost of moving or downsizing may be a concern, depending on housing markets and personal finances.
- Timing: Some may feel that 75 is too early if they’re in good health and happy in their current home.
Choosing the right living situation
When considering a move, it’s important to choose the right living environment for your future needs. Whether you’re downsizing to a smaller home, moving to a retirement community, or relocating to be closer to family, the key is finding a place that supports your long-term goals. Consider factors such as:
- Accessibility: Look for homes with features that support ageing, such as single-story living, wide doorways, and step-free access.
- Proximity to family, shops or medical services: Being closer to loved ones, the local shop or healthcare facilities can offer peace of mind as you age.
- Community: Choose a place where you can build social connections and engage in activities that keep you mentally and physically active.
Conclusion: Moving when it’s right for you
While moving around age 75 offers many benefits, it’s ultimately a personal decision. The key is to move when it feels right for you, ensuring you’re making the best choice for your future. By moving earlier, you can plan ahead, avoid potential health-related emergencies, and give yourself the freedom to enjoy retirement with financial security, comfort, and control over your life choices.
If you or your loved ones are approaching this stage in life, consider the benefits of moving sooner rather than later. Downsizing can not only provide a more manageable living situation but also free up funds to enjoy life, travel, or help your family. By making a well-planned move now, you’ll set yourself up for a more comfortable, fulfilling future.
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