When Should Retirees Downsize Homes Wall Street Journal

When Should Retirees Downsize Homes Wall Street Journal

When Should Retirees Downsize Homes?
If You’re Going to Do It, Sooner is Better Than Later
from the Wall Street Journal
January 25, 2014
by Tom Lauricella

For most people, their house is their biggest asset. It’s also their biggest expense. But when it comes to retirement planning, a house often falls to the bottom of the list involving changes in later life.

There are plenty of reasons for that inertia. Emotionally, it’s hard to let go of a home filled with memories. Moving is a hassle, and downsizing to a smaller home isn’t always the cash bonanza some might expect. As a result, many wait until well into retirement before moving to a smaller house or apartment.

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