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Downsizing involves moving to a smaller, often cheaper, home. It can be an empowering way to unlock more time and money for the things that matter to us most.
However, while it can bring many benefits, downsizing can also be daunting. Perhaps you’re concerned about the logistics of moving (for example, decluttering and packing) or how living in a smaller home might affect your lifestyle. If this sounds familiar, you could consider downsizing to a later-living community.
Later-living communities provide homes specifically for those aged 60 and over. They’re ideal if you’re looking to join a safe, welcoming community of like-minded, similarly-aged people.
As well as supporting you throughout the moving process and beyond, later-living communities can offer plenty of perks you wouldn’t get by downsizing to a conventional home – from wellness facilities and organised social events to an increased sense of safety and security.
With this in mind, we’ve teamed up with Pegasus Homes, who build and maintain high-quality later-living communities for those over 60 across England, to bring you eight reasons why they can offer the perfect downsizing solution for you.
1. Downsizing to a later-living community can save money
Depending on your circumstances, downsizing can bring various financial benefits, including lower housing costs and reduced bills.
Many later-living communities are new builds, meaning they’re more energy-efficient than older homes. For example, Pegasus Homes have double-glazed windows, efficient appliances and heating systems, and LED lighting that maximises natural light – all of which can contribute to lower energy bills.
If you downsize to a Pegasus later-living home by 31st March 2025, they’ll also cover your stamp duty – giving you one less cost to think about. Plus, unlike other later-living communities, Pegasus Homes doesn’t charge exit fees if you choose to leave.
What’s more, they’ll also contribute £2,000 towards your legal costs when you use a solicitor from their recommended panel.
2. Downsizing to a later-living community means guests can stay comfortably
One thing that puts many people off downsizing is the possibility of not having space for friends and family to stay. For many, hosting loved ones brings great joy and fulfilment, which can make it difficult to let go of homes with more space and spare rooms.
However, what many people don’t know is that plenty of later-living communities – including some of Pegasus’ ones – have guest suites where friends and family can stay the night for a fee. These are like on-site hotel rooms and are handy if you don’t have a spare room in your home.
Some later-living communities – for example, Chapelwood, Pegasus’ community in Wilmslow – even have on-site restaurants. Here, you and your loved ones can enjoy a delicious meal without having to cook, allowing you to spend more time together.
3. Downsizing to a later-living community can free up time and headspace
We all know that larger homes need more maintenance – from cleaning to gardening. And because these jobs can take up big chunks of our day, just knowing they need doing can lead to unnecessary stress. Plus, some jobs – such as hoovering, weeding, or mowing the grass – can become more challenging with age.
Switching to a smaller home can reduce chores, lower stress, and leave more time for us to do things we enjoy.
Plus, by choosing a later-living community, you probably won’t have to worry about maintaining the exterior of your home, as this is generally covered in the service charge (i.e. the annual fee residents pay towards the building’s upkeep and insurance). For example, at Pegasus later-living communities, you can expect things like window cleaning and roof repair and maintenance to be covered.
Many later-living communities also have communal gardens that are maintained by staff – so you can enjoy the benefits of an outdoor area without the hassle of trimming hedges and mowing grass.
4. Downsizing to a later-living community can encourage decluttering
Over the years, clutter can build in our homes – and this is doubly true for those of us with larger spaces than we need. With room space to fill, it’s easy to overlook how much unnecessary stuff builds up. But a cluttered home can negatively impact our health and happiness.
For example, cluttered environments can make us less productive and more stressed. They’ve also been linked to sleeping difficulties and a higher risk of heart disease and type 2 diabetes. However, moving to a smaller home can prompt a much-needed clear-out.
While choosing what to keep and what to give away can be tricky, living with less can be liberating. As Stella, a resident of Latheram House, Pegaus’s community in Cheltenham, tells us: “Downsizing is always going to be difficult when you’ve got a lifetime of things, but […] I’m so glad I did it[.]”
5. Downsizing to a later-living community can mean getting support with your move
Another key benefit of downsizing to a later-living community – as opposed to a more traditional home – is receiving support with the moving process.
For example, Pegasus has partnered with home move specialists Aprico to offer new residents a complimentary downsizing and moving service. This includes help with decluttering, packing, and unpacking for a simple and seamless transition.
On arrival, Pegasus also offers new residents up to four hours of complimentary assistance from local tradespeople to help them with various jobs. This could include anything from hanging pictures to assembling flat-packed furniture.
6. Downsizing to a later-living community can offer future-proofing
When moving houses in later life, many of us want to find somewhere we can call home permanently. With this in mind, when choosing a new place to live, it’s helpful to consider our future needs as well as our current ones.
For example, moving to a smaller home can make it easier to get around as we get older. But downsizing to a later-living community – as opposed to a conventional home – can offer even more reassurance, as they’re typically designed with accessibility in mind – i.e. with wheelchair-accessible layouts.
Later in life, we’re also more at risk of falls and other medical emergencies. So, as well as the peace of mind that comes with having people nearby – whether the onsite team or your neighbours – some later-living community providers (like Pegasus Homes) can install an alarm in your room so you can call for help in an emergency.
7. Downsizing to a later-living community might mean trying before you buy
For anyone considering downsizing in later life, buying a new home can be daunting – especially if we’ve lived in our current one for many years. Concerns about making the wrong choice might stop us from taking the leap and reaping the rewards of a smaller home.
However, for peace of mind, many later-living communities offer ‘try before you buy’ options. These can involve a complimentary overnight stay at your chosen community with access to all the amenities, so you can make sure it’s right before committing.
Alternatively, some later-living community providers – such as Pegasus Homes – allow you to rent your new home before buying. As one resident of Belle Vue, Pegasus’ later-living community in Hampstead says, “Renting first allowed us to have a taste of the lifestyle before deciding whether to buy.”
8. Downsizing to a later-living community means joining a supportive network of people
In many cases, downsizing may involve moving to a different area. While this can offer an exciting opportunity to live somewhere you’ve always dreamed of – for example, by the coast or an Area of Outstanding Natural Beauty – it can also take you further away from established community ties. This can put many people off downsizing and prevent them from experiencing the benefits of a right-sized life.
But choosing a later-living community over a traditional home can allow us to mingle with a ready-made community of like-minded people who are all at the same stage of life.
Plus, many later-living communities are curated and designed to encourage residents to socialise and bond by featuring community spaces – like social kitchens and community gardens – and putting on regular events – for example, art and exercise classes.
Final thoughts…
From supporting you throughout your move to offering spaces where guests can stay the night, later-living communities can offer the perfect opportunity to downsize and reap the many rewards of a more streamlined life.
However, downsizing isn’t the only reason to consider moving to a later-living community. This survey found that later-living community residents are less lonely, more active, feel safer, enjoy more privacy, and generally stay healthier for longer.
If you’re interested in finding out more about later-living communities and what they can offer, why not visit the Pegasus Homes website to discover their communities across England?
Are you thinking about downsizing to a later-living community? Or have you already done so? We’d love to hear from you in the comments below.