downsizing

Downsizing refers to when a buyer purchases a property which is smaller in size or lower in value than their current home. Reasons to downsize There are multiple reasons why a buyer may want to downsize, such as having less inhabitants in the home, a higher cost in bills or wanting a change of location. An analysis of Finnish households found that downsizing was more appealing to lower income, single-person households. Downsizers valued the presence of services that would enable aging in place.