That little one-bedroom apartment might be temptingly inexpensive, but think twice if you still want to host holiday meals or have room to entertain the grandkids. Suro cautions against "downsizing to the point where it's uncomfortable to host people or entertain. An active social life makes us happy, and usually includes hosting friends and family for overnight visits, or just for dinner parties or other entertainment," he says.
On the flip side, it's unlikely that you need another four-bedroom house. "If it's just two people, and the holiday celebrations have moved to the grown children's homes, all you need is an open concept living area with a kitchen," says Martin Eiden of New York's Compass Real Estate. "Likewise, if you have only the occasional grown children and grandchildren visit, two bedrooms should be enough."
