Less space, more freedom

Australian retirees are discovering the benefits of downsizing their homes and upsizing their lifestyle.

Whether it’s letting go of overgrown gardens or freeing up cash that was spent maintaining a large house, downsizing can make it easier for people to live the life they want, according to Aveo chief executive officer Tony Randello.

“Downsizing to a home in a premium location doesn’t mean compromising; it often means upgrading your lifestyle,” he said, noting that this is especially true for those who move into quality retirement communities.

“A smaller home in a retirement community typically comes with a lower entry price than a residential property, allowing retirees to enjoy the benefits of community living, reduced upkeep and improved access to amenities. Rather than having their wealth tied up in a large home, retirees can free up funds to travel, buy a new car, or simply enjoy the peace of mind that comes with financial flexibility.”

For some – such as John and Maggie Bibby, who had been living in an apartment on the Gold Coast before relocating to Sackville Grange Retirement Village in the Melbourne suburb of Kew in 2023 – moving into a retirement community has benefits even without downsizing. 

“Our apartment here is probably slightly bigger than the one we had in Queensland. The ongoing cost is much the same, but electricity, council rates, and water are cheaper for us here. We go out more often because we are near great restaurants here,” noting that while the cost of living in Australia has “definitely gone up”, the move has helped the couple avoid needing to budget or cut back.

Another key benefit of the move has been access to on-site support.

“The staff here are just magic, nothing is too much trouble,” Mr Bibby said. “If you need something, they can help you. It’s nice to know there’s help there if you need it. I just love this place.”

The couple also enjoy Sackville Grange’s easy access to transport and shops, on-site facilities and built-in community.

“We didn't know anyone here, but our social life has improved since we came here,” Mr Bibby said. “We have a group of friends that we go out to restaurants with, and then we have monthly dinners in the community centre and drinks every Friday.” 

The self-professed “mad AFL fan” now also runs the community’s football tipping competition and has joined a cards group and a men’s group, while his wife enjoys the on-site library. 

Most importantly, the move has made it easier for the couple to spend time with family. 

“We've got 14 grandkids; seven of them are in Melbourne,” Mr Bibby said. “One of our daughters has two younger boys, and I watch them play sports on the weekends.”

For Mr and Mrs Bibby, the choice to move to Sackville Grange was an easy one, with the couple citing the location and views as key factors. 

"We were on holiday in Melbourne, visited the village on a Tuesday for a look, and then bought our apartment the next day," Mrs Bibby said. 

With 45 per cent of Australians aged 65-85 agreeing the higher cost of living has impacted their ability to socialise and travel, according to Aveo’s 2025 Ageing Australia Study, Mr Randello said relocating to a retirement village can be a savvy move. 

“The advantage of community amenities and services is that they can have a huge cost-of-living benefit for residents,” he said, noting that this is just one of the many factors driving a boom in retirees seeking apartments in well-located retirement communities.

“Residents tell us that they chose retirement living for a variety of reasons – to downsize, build their social connections, enjoy shared amenities, feel freedom from the responsibility of looking after a property, for the ease of the lock-up-and-leave lifestyle or simply the peace of mind that comes with living in a managed community environment, with many support services.” 

For those considering the move, Mr Bibby’s advice is to do it early. 

“The older you get, the harder it can be to move or to make new friends. We nearly left it too late, I wished we’d moved when we were 70-75,” he said. 

“There are two or three other couples that moved here at the same time as us, and we have all said that we don't know why we didn't do it earlier."

Originally published by The Herald Sun - here