Tuesday 23 April 2019

Downsizing to smaller home for retirement proves popular

(Stock picture)
(Stock picture)

Most retired people would consider downsizing - but a garden in their new home is a must-have.

The survey, commissioned by Dublin-based investment management firm Lotus, found 74pc of retirees would consider moving to a smaller home.

Second on the downsizing "wish list" was enough room to entertain family and friends.

Many people are also keen to remain in the same area as their current home, according to the survey of 1,000 people carried out by iReach.

Having a nearby storage facility is also considered important.

A proposed Government grant to ease the transition from a larger "empty nest" to a smaller home is not seen as a major issue.

Some 78pc of those surveyed said they would consider downsizing when they retired. For those over the age of 55, the percentage prepared to consider moving to a smaller home was 74pc.

The survey found 45pc of those prepared to move would need a garden or an outdoor space.

Irish Independent

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