Downsizing can be a game-changer for your lifestyle, finances, and overall peace of mind — but you need to approach it with a plan. It’s that old adage — failing to plan is planning to fail! Here on our website, and through our book Downsizing Made Simple, we’ve guided countless people through this journey — and we know that asking the right questions can make all the difference. So, before you take the plunge, here are the top five questions you need to ask yourself:

1. Why am I downsizing?

Getting clear on your “why” is the first step. Are you looking to free up time by ditching the maintenance of a big home? Do you want to cut costs or access the equity in your property to invest or spend? Maybe it’s about finding a home that’s not only easier to manage as you age but also connects you with a community of like-minded people who share your interests and values. Whatever your reasons, knowing your motivation will shape every decision you make moving forward.

2. What does my ideal space look like?

Think about the space you actually use and what’s important for your lifestyle. How many bedrooms do you need? Will you still host family gatherings or need a space for hobbies? Downsizing — better described as rightsizing — doesn’t mean giving up comfort or functionality. It’s about finding a home that perfectly fits your needs and lifestyle right now, if you downsize into a retirement community those family gatherings may be in a private dining room that you can book rather than your apartment or villa .

3. What are the financial implications?

Downsizing can unlock significant financial benefits, but don’t forget to factor in all the costs. Real estate agent fees, moving expenses, legal costs, and even stamp duty (depending on your state) can add up. And what about ongoing fees in retirement villages or over-50s communities? Take a close look at your budget to ensure you’re prepared. Our free calculators can help you crunch the numbers.

4. Am I ready to let go of ‘stuff’?

This one’s tough. Downsizing often means decluttering — and that can be an emotional process. But it’s also an opportunity to simplify your life and keep only what brings you joy or serves a purpose. Start small and give yourself time. You’ll be surprised at how liberating it can be to lighten the load.

5. Is this the right location for me?

Your new home isn’t just about the house — it’s about the community around it. Is it close to family, friends, and the services you need? Are there shops, healthcare, and public transport nearby? Think about now and the future. The right location can make a big difference in your daily life.