What's the best age to downsize?

Moving to a smaller home can be tricky however old you are, but Emily Smith was glad she did it sooner rather than later
There is no right time to downsize your home, but there may be a life event that triggers it - anything from retirement, to divorce, the death of a partner or even simply having paid off your mortgage.
It makes sense to downsize before you get too old, as the stress of moving can take its toll. It's easier to deal with all this when you're fit and healthy as opposed to in later life, when you may have health or mobility issues. I was 55 when I chose to downsize. I had a spacious three-bedroom Victorian maisonette with a huge garden in East London, and decided to move to a one- bedroom, ground-floor flat in a two-storey 1930s house with a walled garden in the same area.
I couldn't claim to be particularly prescient, though it has worked out well (especially given the financial privations I would have faced otherwise during covid). I live alone, and after my closest female friend, who owned the entire house across the road from me, opted to downsize, I decided to take the same journey.
My own parents had talked about downsizing when they were in their 60s but never did. My mother became increasingly uncomfortable in the large family home when she was alone in her later years, but felt too fragile to move.
It didn't take long for me to find a cash buyer for the maisonette, but the hunt for something I wanted to live in took longer. Particularly as I had two cats, whose love of the extensive outdoor space had to be taken into consideration. Looking back, I needed the energy I still had then for the project I took on. It certainly wasn't straightforward to downsize. Once I had moved, I completely renovated the new flat, adding an extension and turning the formerly shabby kitchen into a second bedroom. I also landscaped and transformed the garden.
The financial aspects were simple: the sale of the maisonette netted almost £1 million, which got rid of my remaining £200,000 mortgage. The flat cost £513,000 and the renovation £80,000 (it would admittedly be much more today).
What I hadn't taken into account, however, was where I would live during the five months it took to do all this. I had thought I could stay in the new property, but that was a triumph of optimism over reality. The builders looked at me as if I was mad. At one point I was sandwiched into one bedroom (with cats), surrounded by dust and debris.
Finally I saw sense, and with some help from friends rented for four months, which cost me an unbudgeted £8,000. My financial buffer was big enough and it saved my sanity. (Even the cats had begun to cough).
Looking back, I realise I had chosen a challenging road, but renovating a property to produce your perfect des-res can be a great option if the finances work out and you have the stamina. And don't be like me - prepare in advance for somewhere suitable for you to stay while it all takes place.
Today I have a property I love with a beautiful private garden. And it's in the neighbourhood I have called home for 30 years. It wasn't all smooth sailing, and I haven't ruled out moving again. But I don't miss the stairs and it is conveniently close to everything I need to keep me happy.
Picture: Adobe Stock