Understanding the true costs to downsize means looking beyond the monthly fee. When people investigate retirement communities, they often compare it to what they think they’re paying now. But staying at home isn’t free — it just doesn’t feel that way. Watch the video to hear Allison’s story and Rachel’s explanation.

🎥 Watch the video to hear Allison’s story and Rachel’s take on the real costs of staying versus moving.

Allison downsized six years ago — from a large two-storey house to a two-bedroom apartment in independent living. And she worked out something that a lot of people miss.

What she pays monthly in her new home was roughly what she was paying to run her old one. Rates, utilities, maintenance — all of it. The difference now? She doesn’t have to worry about these separate bills.

Moving just before COVID turned out to be a blessing too. There were people around the whole time. Her husband didn’t need to find someone to mow the lawn. Life got simpler, and better.

As Allison puts it: it was the best move.

Is staying in the family home cheaper?

One of the most common mistakes people make when looking at retirement communities is seeing the monthly fee — $500, $600, $700 — and comparing it to what they think they’re paying now.

But staying at home isn’t free. It’s just that you don’t pay it evenly every month.

The rates arrive once a year. The utilities come in quarterly, at different times. The lawn gets mowed, the pool gets serviced, the gutters get cleaned. It adds up — you just don’t see it as one number.

When you do the proper comparison — what it actually costs to stay versus what it costs to move — the gap is often much smaller than people expect. Sometimes there’s no gap at all.

That’s the apples-to-apples comparison worth doing before you make any decisions.

General information only — not personal advice. We recommend speaking with a financial adviser about your individual circumstances.