Downsize or stay put? 10 questions to ask first

For many Australians, the family home is the biggest thing they own and the place most of their memories live. So when retirement arrives, the question “should we stay or should we go?” can feel enormous.

You’re not alone in wanting to stay. A 2026 Benetas study found that 89% of Australians aged 65 and over want to keep living at home as they get older. But wanting to stay and being ready to stay aren’t always the same thing.

There’s no right answer for everyone. There are, though, some good questions. Here are ten worth talking through, ideally with your partner or family, before you make any decision.

See your options side by side: try the free calculator →

1. Does the house still fit the way you live?

Think about the next 10 to 20 years, not just today. Stairs, a big garden and spare rooms can be a joy, or a chore. Which ones would you miss, and which would you happily give up?

2. What does it cost to keep running?

Rates, insurance, maintenance, energy bills and repairs all add up. Retirees’ living costs have been rising faster than overall inflation, according to ASFA. Write down what the house costs you each year, then ask whether that still makes sense.

3. Could the home be adapted if your needs change?

Rails, a step-free shower or a ground-floor bedroom can make staying possible for longer. Some homes adapt easily; others don’t.

4. How close are the things that matter?

Doctors, shops, transport, friends and family. Being near the people and services you rely on often matters more as the years go on.

5. What would moving actually cost?

Selling and buying bring agent fees, stamp duty, legal costs and removalists. It’s worth getting a realistic estimate before assuming that downsizing frees up a lot of money.

6. Which options are you comparing?

Most people think of two choices: stay, or sell and buy smaller. There are others, including land lease communities and retirement villages, and each works quite differently.

7. How might each option affect your pension?

Moving money between your home and other assets can change how the Age Pension assessment treats it. Services Australia, or its free Financial Information Service, can explain how this works.

8. Would you draw on the home’s value without selling?

Some people stay put and draw on their home’s value through the government’s Home Equity Access Scheme or a reverse mortgage. These are loans, with costs and trade-offs that need careful thought and independent advice.

Free guide: Leave It Sorted. The plain-English guide to the paperwork worth having in place before any move: wills, powers of attorney, how your home is owned and super nominations. Get the free guide →

9. What happens to the home later on?

Each option affects what eventually passes to your family in a different way. How the property is owned, and what your will says, both play a part.

10. What do the people you trust think?

Talk it over with your partner, your family, and a professional who can look at your whole situation. Big decisions are easier when they’re shared.

Where to from here

Once you’ve thought through these questions, Launchup’s free calculator lets you see the four main options side by side. It’s a starting point for your own research and conversations. Before you act, get independent financial and legal advice about your own situation. Moneysmart.gov.au and Services Australia are good places to start.

General information only. It doesn’t consider your personal circumstances and isn’t legal, financial or credit advice. Rules vary by state and change over time. Get independent legal and financial advice before making any decision. Launchup is not a lender, law firm or financial adviser.

Sources: Benetas Ageing in Place study 2026 · ASFA Retirement Standard, June 2026 quarter