Joanne Couch, Managing Director at My Future Living said, “Downsizing is about finding the perfect balance, a home that fits your needs today and allows you to live the retirement you’ve always dreamed of. For those considering downsizing, renting in retirement is becoming increasingly popular.
“Renting after selling up frees up capital, as well as time as people don’t need to maintain and clean a large property. Retirement apartments are designed for security, convenience, and community. Downsizing in 2025 can offer financial freedom, more leisure time, and a simpler, more enjoyable retirement.”
Joanna offers five tips for those considering downsizing in 2025:
- Assess your housing needs - Evaluate what you truly need in a home. This can change as people age. Consider location, size, and features that will support your lifestyle and future needs.
- Explore retirement rental options - Renting in retirement offers flexibility and can remove the burden of property ownership, allowing you to focus on enjoying life.
- Plan financially – Consult with a financial adviser to understand the implications of selling your home, releasing equity, and reducing inheritance tax liabilities.
- Declutter your home - Begin sorting through belongings before the move. Downsizing is an excellent opportunity to simplify and only keep items that bring value or joy.
- Begin your search – Kick off 2025 by searching for a new home. Do your research online first, before narrowing down your search criteria and viewing properties.
One lady who downsized and is enjoying the social side of retirement living is 77 year old Jean Wray. She sold her home in North London, and downsized to rent an apartment in Homeshore House, a retirement development in Seaford in East Sussex for a quieter way of life and to be close to the sea.
Jean said, “I love being part of the community and helping get those who want to socialise to get out and about. We also have a communal greenhouse where we grow and share all our produce with each other. It’s a lovely way to get out, keep busy and meet new people.
“Homeshore House is the perfect place to live, not only because the surroundings and gardens are immaculate with trees dotted everywhere but I’ve got the beautiful South Downs on one side and the sea on the other. Right outside the development is a bus stop which means I can easily get into Brighton and Eastbourne.”
When asked about renting in retirement, Jean adds, “We used to own a lovely house but maintaining it was getting harder. We also wanted to free up some money so we could help our son with a deposit for his own place. I now have a worry-free life and if something needs fixing its sorted very quickly which is great.”
Most developments have communal lounges, gardens, a lift, guest suites and an onsite manager, plus there is a 24-hour careline in the majority of apartments for out of hours emergencies. Many of My Future Living properties are available on long term assured tenancies.
