Should I Stay or Should I Downsize? A Fremont County Senior’s Guide

By John Liese, Realtor® | Colorado Foothills Properties

If you're in your 60s, 70s, or beyond, you may have started asking yourself a question that sounds simple but really isn't:

Should I stay in my current home—or is it time to downsize?

For many seniors in Cañon City, Florence, Penrose, and throughout Fremont County, the answer isn't necessarily about needing a smaller house. It's about deciding whether your current home still fits the life you want to live.

Start With the Cost of Staying

If your mortgage is paid off, staying put can look like the obvious financial choice. But a paid-off house isn't a free house.

Consider your annual costs for:

• Property taxes
• Homeowners insurance
• Heating and cooling
• Lawn and property maintenance
• Roof, plumbing, HVAC, and other repairs
• Snow removal and exterior upkeep

A larger older home may cost considerably more to maintain than a smaller, newer property—even without a mortgage.

Before moving, however, compare those expenses against what purchasing another home would actually cost. Downsizing doesn't automatically mean saving money.

Is Your House Working for You—or Are You Working for Your House?

Here's a question I think more homeowners should ask:

How much of your house do you actually use?

If you have three or four bedrooms but regularly use only one, a basement you rarely visit, or a large yard that's becoming more work than enjoyment, your house may no longer match your lifestyle.

On the other hand, if you love your property, can comfortably maintain it, and it works well for you physically, there may be no reason to move simply because you've reached a certain age.

There is no rule saying retirement requires downsizing.

Think About the Next 10 Years, Not Just Today

One of the most important considerations is whether your home will continue to work for you.

Things that may not bother you at 65 could become frustrating at 75 or 80.

Think about:

• Stairs
• Laundry in the basement
• Steep driveways
• Large acreage
• Bathrooms with tubs instead of walk-in showers
• Narrow doorways
• Distance from doctors, shopping, family, and services

Sometimes making a move while you're healthy and active gives you far more choices than waiting until a move becomes necessary.

What Is Happening in Our Local Housing Market?

The 2026 market is different from the frantic housing market we experienced several years ago.

Buyers generally have more opportunity to look, compare homes, negotiate, and think through their decisions. That can be particularly helpful for seniors who don't want to feel rushed.

For sellers, it means preparation matters.

Simply putting a home on the market at a high price and waiting for multiple offers isn't a reliable strategy in today's market. Condition, presentation, marketing, and realistic pricing all play important roles.

That makes planning your move before putting up the FOR SALE sign especially important.

Don't Forget Colorado's Senior Property Tax Exemption

This is one area seniors should investigate carefully before moving.

Colorado's Senior Property Tax Exemption can reduce property taxes for qualifying homeowners. Historically, eligibility has included homeowners age 65 or older who have owned and occupied their primary residence for at least 10 consecutive years.

There have also been temporary provisions affecting seniors who previously qualified and then moved.

Because eligibility and rules can change, don't assume that selling your longtime home will—or won't—affect your exemption. Talk with the Fremont County Assessor or a qualified tax professional before making a decision based on the exemption.

A little research before selling could prevent an expensive surprise later.

Try the "Would I Buy This House Today?" Test

Here's an interesting exercise.

Forget for a moment that you already own your house.

If your home came on the market today, knowing its size, stairs, maintenance, location, utility costs, yard, and features:

Would you buy it again for the next 10–15 years of your life?

If the answer is an immediate yes, staying may make perfect sense.

If you find yourself saying, "Well...probably not," it might be worth exploring your options.

Exploring doesn't mean you have to sell.

Downsizing Isn't Really About Square Footage

I prefer the term right-sizing.

For one person, right-sizing could mean moving from a 3,000-square-foot house to a 1,500-square-foot ranch.

For someone else, it might mean leaving town for a few acres outside Florence or Penrose because they've always wanted a shop and some elbow room.

And for another homeowner, the right answer might be staying exactly where they are.

The objective isn't to own less.

It's to own the home that best supports the life you want to live.

A Local Conversation Before You Make a Decision

I've been helping buyers and sellers in Fremont County and Southern Colorado for nearly two decades, and senior moves are rarely just real estate transactions.

There are financial considerations, family conversations, memories, possessions, timing, and sometimes a lot of uncertainty.

That's why I believe the first step shouldn't be signing a listing agreement.

It should be a conversation.

If you're wondering what your home is worth, what smaller homes are available, or whether moving makes financial sense, I'm happy to sit down and help you look at the numbers and your options.

No pressure. Sometimes the best real estate advice is to sell.

And sometimes it's to stay right where you are.

John Liese, Realtor®
Colorado Foothills Properties
719-287-0900
[email protected]

Serving seniors and their families throughout Cañon City, Florence, Penrose, Fremont County, Pueblo and Pueblo West.