
How to decide whether to downsize or renovate?
I have worked with a few clients who decided to stay in their family home and renovate rather than downsize. This decision didn’t come lightly. Nor is the decision to move and downsize made lightly. I don’t know what the statistics are relating to downsizing or not. But I wanted to share my insights on how to decide whether to downsize or renovate?
Factors that contribute to staying
Love the family house
When you spend many years in a house, it becomes more than a structure. It becomes a sanctuary. A place full of memories. It becomes a home. Feelings of home are based around comfort, love, family.
Those feelings are connected to a tangible structure such as a house. This is a deeply personal feeling and everyone is different.
Some people can pick up and leave easily and others find it difficult or even traumatic. Mostly because of the feelings and emotions associated with the house.
Feeling and emotions based on past experiences and memories but also based on present day comfort, safety and security.
My clients definitely have strong feelings and emotions associated with the house they decide to stay in and renovate.
Some clients also like the architecture of the house. Whether it’s a period home or a modern home, architecture, structure and design can also contribute to the decision to stay and renovate instead of downsizing.
Love the location of the family home
Where the house is another contributing factor in deciding to downsize or renovate. If for example the house has been a family home for many years, it’s likely clients have established good local connections.
Connections with neighbours, the school community, sporting clubs, local bars and cafes and other businesses.
It’s nice to be able to head out and see people you know and say hi and have a quick chat. That’s certainly my experience when I walk the dog or go to my local café.
Being recognised and seeing familiar faces around the community we live is a powerful reason to deciding to downsize or renovate.
Especially as my clients are usually empty nesters and loneliness can have detrimental health impacts. So for this reason, location is a key reason people to decide to stay and renovate.
Love the potential of the family home
Living with kids probably meant having functional, robust, ugly, budget friendly furniture. Some of my clients want to fulfil the potential of the house. And their version of an aspirational space.
Now that the kids are either grown up or have left home, my clients want to replace the family friendly furniture with good quality furniture.
Beautiful pieces of furniture that children won’t destroy and the client and their guests can enjoy and luxuriate in.

Factors that contribute to downsizing
Cost of renovations
The option of renovating is a considerable expense and the option of downsizing is also expensive.
Any time a big life decision needs to be made I always recommend my clients discuss this with an accountant, financial advisor and family.
Two clients I worked with that decided to stay and renovate spent over $200,000. While both projects varied, this amount covered the cost of a new kitchen, bathroom/s, and laundry.
It also covered the cost of new surfaces such as changing the floor, painting the walls and ceilings.
For both clients it also covered miscellaneous repairs to the house the client had never got around to repairing.
At this life stage, it’s important to weigh up the pros and cons of downsizing and renovating. Against the emotional toll and stress this life change can also trigger.
Looking for a change
Some clients in the position of deciding whether to downsize or renovate consider this an exciting opportunity.
Downsizing presents an opportunity to lessen the burden of home maintenance. Or move to a different location such as closer to the beach or country or even closer to the city.
A tree change or sea change is right for some clients. A new start. But the change you make at this stage doesn’t have to be in location.
You could also stay in the neighbourhood you have roots in and try to find a smaller home. Like an apartment or villa unit.
A smaller home means a big clear out, and possibly buying new furniture. Your apartment or villa unit may require aesthetic renovations.
Such as updating the kitchen or bathroom/s without changing the layout. Anytime you can avoid structural changes the cost are contained.
Accessibility or health reasons
The decision to downsize or renovate may be based by your health or level of accessibility. It could be that due to injury you’re no longer able to clean a large family home.
It’s worth investigating the availability and criteria for home help if this is the case. Eligibility varies and it doesn’t hurt to ask.
If staying and renovating then I have worked with clients to create accessible spaces. With easy walk in showers. Bench seating in showers. Grab bars for the shower, bath and toilet. Lighting and heating also get special consideration when renovating for accessibility.
With any renovation of a home for older clients who have decided to stay, I consider slip hazards and reach.
Falls are dangerous for people at an advanced life stage where they’re considering to downsize or renovate. So keeping pathways wide and clear is important.
As well as keeping things with arms reach. As the use of a step ladder could be hazardous.
The decision to downsize or renovate is not easy. Especially for singles. I often advise my clients to speak to a range of professionals.
Ranging from interior designers, real estate agent, doctors, accountants, financial professionals, builders and so on.
With the right advice and help from experts the decision to downsize or renovate will be made easier. But start with a simple pros and cons list. This is an easy way to get a feel for your enthusiasm to move or stay put.
Photo by Mark Timberlake on Unsplash