Downsizing — moving to a smaller or less expensive home in retirement — is a major decision combining finance, lifestyle, and emotional factors. This sub-cluster covers the dimensions.
The financial case is real (free up home equity; reduce ongoing costs). The non-financial cases are also real (community, family proximity, climate). Most decisions involve both.
The house holds memories. Moving feels like loss.
Neighbors, friends, social network built over years.
Moving costs, transaction costs, taxes on home sale (sometimes).
The downside is real and underestimated. Loneliness; new system to learn; new community to build.