The best choice is not purely financial.
Housing decisions
Staying at home or downsizing: what should I think about?
There is no automatic point at which a person should downsize. The useful question is whether the home still supports the life you want, the costs you can sustain and the help you may need later.
Practical guidanceUnderstand the options before making the decision.
At a glance
What to know first
Home layout, maintenance, transport and support networks matter.
Selling or moving can affect superannuation, Centrelink and tax, so major financial decisions deserve individual advice.
The practical detail
Work through the part that matters to you.
Start with how the home works day to day
Think about stairs, bathrooms, gardens, maintenance, heating and cooling, access to shops and transport, and whether the home could be adapted if mobility changes.
Look at the support around the home
A larger or older home can still work well if family, neighbours, transport and in-home support are accessible. A smaller home can be harder if it moves you away from the people and services you rely on.
Compare the real costs of both choices
Include rates, insurance, maintenance, utilities, strata or village fees, moving costs and the cost of buying or selling. Do not compare only the headline property values.
Check financial consequences before acting
A home sale can affect how money is held, superannuation choices and Centrelink means tests. Get current information before signing contracts or moving sale proceeds.
Before you act
Housing, superannuation and Centrelink decisions can have significant financial consequences. Consider independent financial and legal advice before committing to a major transaction.
Check the current rules
Official sources used for this guide.
Government rules and thresholds can change. These links take you to the source material used to prepare this page.
Related Later Life guides
Keep going only where it is useful.
Care & support
Government help with home modifications and equipment
If changes to your home or equipment would make daily life safer or easier, the Support at Home Assistive Technology and Home Modifications scheme may help when the need is assessed and approved.
Read guide →Home & housingRetirement villages explained: what to check before you sign
A retirement village is a housing and lifestyle choice, not the same thing as an aged care home. Contracts, fees and ownership arrangements can be very different from buying an ordinary home.
Read guide →Money & entitlementsWhat happens to my super after 65?
Turning 65 gives you broad access to your superannuation even if you are still working, but it does not mean you have to withdraw it.
Read guide →When general information is not enough
Talk it through with Liz.
Liz can help connect the general rules to the care and support questions in your own situation. For legal, tax or financial decisions, she will point you back to the appropriate professional or government source.