{"id":132976,"date":"2025-10-20T01:12:19","date_gmt":"2025-10-20T01:12:19","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/132976\/"},"modified":"2025-10-20T01:12:19","modified_gmt":"2025-10-20T01:12:19","slug":"to-downsize-or-not-to-downsize-the-pros-and-cons-to-help-you-decide-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/132976\/","title":{"rendered":"To downsize or not to downsize? The pros and cons to help you decide \u2013 The Irish Times"},"content":{"rendered":"

Downsizing<\/a>, rightsizing, futureproofing \u2013 call it what you will, it\u2019s one of the biggest property decisions that homeowners can face. After decades in a family home, the thought of selling up and moving to something smaller can feel both liberating and daunting.<\/p>\n

Rena O\u2019Kelly, an estate agent with Sherry FitzGerald<\/a> in Foxrock, has worked with many downsizers. Here, she shares the key advantages \u2013 and the pitfalls \u2013 of making the move.<\/p>\n

ProsLeave the maintenance behind<\/p>\n

For most downsizers, the size of a home, and the upkeep that comes with it, is the biggest factor driving the decision to move. <\/p>\n

\u201cIt has to do with overall maintenance, particularly garden work,\u201d says O\u2019Kelly. <\/p>\n

After 30 or 40 years in the same home, many owners are facing higher heating bills and outdated insulation. <\/p>\n

\u201cWe\u2019ve seen a huge change in energy efficiency since these houses were built. The owners are not at a stage where they have an appetite to retrofit and bring up their energy rating.\u201d<\/p>\n

Money matters<\/p>\n

After a lifetime of mortgage repayments, many homeowners find themselves sitting on a significant financial asset. <\/p>\n

\u201cSome people at this stage of life have built up huge equity in their home and they want to release it to supplement a pension<\/a>,\u201d says O\u2019Kelly.<\/p>\n

\u201cA lot of people lost money coming through the crash on stocks and they have never recovered, so they need the equity to act as their pension.\u201d<\/p>\n

But caution is key. The shortage of housing<\/a> supply means the dream downsizer\u2019s home may cost more than expected. \u201cYou really need to research what\u2019s out there to ensure your budget will match your expectations,\u201d she warns.<\/p>\n

\u201cA bungalow is a really good option when downsizing,\u201d she adds. \u201cBut bungalows don\u2019t only suit downsizers, they also suit families, so there can be huge demand for these properties, which in turn means they\u2019re achieving very strong prices.\u201d<\/p>\n

[\u00a0Older people and downsizing: \u2018We hated selling our home but it became a necessity\u2019Opens in new window<\/a>\u00a0]<\/p>\n

Her advice is to start viewing potential properties early. \u201cGo out there and look at suitable properties and see what\u2019s happening in the market. When you start to look around, it allows you to get excited about the next stage, and you need to be excited.\u201d<\/p>\n

Family ties<\/p>\n

Family remains a powerful motivator. As children settle farther afield, parents often decide to follow. \u201cWhen kids move farther away, often the parents want to be closer, so they decide to sell up and follow the kids,\u201d says O\u2019Kelly. Downsizing provides the flexibility to relocate closer to family support networks \u2013 or grandchildren \u2013 without the burden of maintaining a large home.<\/p>\n

Lower day-to-day costs<\/p>\n

For many, the financial benefits extend beyond releasing equity. A smaller, newer, more energy-efficient home can dramatically reduce monthly outgoings. <\/p>\n

\u201cYou could be going from an old draughty house to an A-rated property and won\u2019t know yourself in terms of comfort and bills,\u201d says O\u2019Kelly.<\/p>\n

[\u00a0Granny nanny: Are grandparents being taken advantage of in minding their grandkids?Opens in new window<\/a>\u00a0]<\/p>\n

Maintenance costs also shrink. \u201cThe maintenance of a smaller property is so much more manageable physically and financially. Just think, if you\u2019re halving the size of your living space, painting jobs, etc, will be half the price.\u201d<\/p>\n

Home and away<\/p>\n

While not everyone dreams of retiring abroad, many downsizers are open to the idea of spending part of the year elsewhere. \u201cNot as many people as you\u2019d imagine move abroad when they retire,\u201d O\u2019Kelly explains. <\/p>\n

\u201cMany, however, invest in a property in the likes of Spain, Portugal or Florida and spend their time between there and Ireland.\u201d<\/p>\n

For these buyers, the idea of a lock-up-and-leave apartment is particularly appealing. \u201cThey don\u2019t need the space all year round and like the idea of being able to lock and leave when they head away.\u201d<\/p>\n

A helping hand\"ForFor most downsizers, the size of a home, and the upkeep that comes with it, is the biggest factor driving the decision to move. Photograph: iStock <\/p>\n

For some, downsizing offers a chance to lend a hand to the next generation. <\/p>\n

\u201cThis can also be an opportunity to release equity to help children to buy their own homes and take the next step,\u201d O\u2019Kelly notes.<\/p>\n

In most of the cases she sees, parents are financially secure enough that this generosity doesn\u2019t compromise their own move.<\/p>\n

ConsFinding the right property<\/p>\n

Despite the clear advantages, finding the ideal downsizer\u2019s home is far from simple. <\/p>\n

Supply remains a major issue, particularly for well-located, low-maintenance homes with good energy ratings. <\/p>\n

Many would prefer to stay within the same area, close to familiar shops, services and friends, but suitable options can be scarce.<\/p>\n

\u201cOf all the houses we sell in Sherry FitzGerald, 10 per cent are from downsizers,\u201d O\u2019Kelly says. \u201cThat should be double but it\u2019s not because I feel there aren\u2019t sufficient properties for this cohort to move to.\u201d<\/p>\n

Leaving the trophy home<\/p>\n

In south Dublin, O\u2019Kelly says many clients are selling what she calls \u201ctrophy homes\u201d.<\/p>\n

These properties can be valued at \u20ac2 million or \u20ac3 million or more, and have become central to their owners\u2019 identities.<\/p>\n

\u201cIt can be emotional and psychological to leave a house like this,\u201d says O\u2019Kelly.<\/p>\n

Her advice? Don\u2019t leave it too late.<\/p>\n

\u201cThese people really need to take their time and research what\u2019s out there to become comfortable with the move. It\u2019s advised to do this earlier rather than later in life when you still have the energy to get excited about a new project.\u201d<\/p>\n

Hard work<\/p>\n

The physical and emotional work involved in clearing out decades of belongings can\u2019t be underestimated.<\/p>\n

\u201cThe move can seem overwhelming,\u201d O\u2019Kelly acknowledges. <\/p>\n

\u201cThis is where I advise people to use experts to make their lives easier \u2013 cleaners, decluttering pros, packers \u2013 take the help where you can. Don\u2019t try to control everything yourself.\u201d<\/p>\n

Furniture and fittings<\/p>\n

Furnishings often pose a dilemma.<\/p>\n

\u201cEveryone likes to take a bit of their past with them, but don\u2019t be tempted to dismiss certain properties because your furniture won\u2019t fit,\u201d O\u2019Kelly advises.<\/p>\n

\u201cI know of one person who sold absolutely everything when she was making this move, and bought completely new furniture for her new life.\u201d<\/p>\n

She also suggests being open to selling some items to the new buyers. <\/p>\n

\u201cWhen you\u2019re selling your house, if the purchasers want to buy pieces, sell it to them. Those pieces will never be worth more than they are in situ. It is a great opportunity to get rid of a few things.\u201d<\/p>\n

Storage\"LearningLearning to be selective and realistic is key to avoiding clutter in the new home. Photograph: iStock <\/p>\n

Downsizing means embracing a simpler way of living.<\/p>\n

\u201cWhen you live in a big house you can get used to the luxury of space,\u201d says O\u2019Kelly.<\/p>\n

\u201cYou used to keep four coats, but now you\u2019ll only have space for two.\u201d <\/p>\n

Learning to be selective and realistic is key to avoiding clutter in the new home.<\/p>\n

Think of the kids<\/p>\n

Parents often struggle to let go of the idea that their house will remain the place for family occasions and grandchildren.<\/p>\n

\u201cThis is where in apartment developments it\u2019s great when they have a park area as it allows downsizers to get over that speed bump knowing the grandkids can still get out and play.\u201d<\/p>\n

Leaving the area<\/p>\n

\u201cStaying in the area isn\u2019t always possible,\u201d O\u2019Kelly admits.<\/p>\n

\u201cIt can be hard to think about leaving your neighbours and friends.\u201d <\/p>\n

Most downsizers focus their search within a four- or five-mile radius, but when that fails, she encourages an open mind.<\/p>\n

\u201cI\u2019ve seen people turn this around and use this as an opportunity to move to the coast. Leaving an area they\u2019ve been rooted to is cancelled out by having a retirement by the sea.\u201d<\/p>\n

Closing the deal<\/p>\n

Logistics can add another layer of stress.<\/p>\n

\u201cIt\u2019s not always possible to have a smooth process where you move from one property to the other,\u201d O\u2019Kelly notes.<\/p>\n

Bridging gaps between sale and purchase may mean renting temporarily, which she encourages clients to view positively.<\/p>\n

\u201cUse this as an opportunity to go for a second clear-out and get rid of more belongings so you don\u2019t bring too much to your new home. And maybe book yourself a little holiday.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Downsizing, rightsizing, futureproofing \u2013 call it what you will, it\u2019s one of the biggest property decisions that homeowners…\n","protected":false},"author":2,"featured_media":132977,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[3500,79,75914,18,8752,19,8081,17,2987,1658],"class_list":{"0":"post-132976","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-advice","9":"tag-business","10":"tag-downsizing","11":"tag-eire","12":"tag-housing-crisis","13":"tag-ie","14":"tag-interiors","15":"tag-ireland","16":"tag-pension","17":"tag-property"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/132976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=132976"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/132976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/132977"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=132976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=132976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=132976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}