Most older individuals will contemplate downsizing or relocating to a home in a retirement community as they get older. Around 51% of retirees aged 50 and above downsize their houses once they retire and 77% of seniors intend on remaining in their current place of residence. It could be wise to downsize if you notice you have a lot of unnecessary extra space or too much clutter, you’re lacking the social connections you want, or the cost to maintain your current home isn’t practical.