New research confirms what many already know: getting older gets better.
A major study from Yale University tracked more than 11,000 people aged 50 to 99 over 12 years. The finding? People who held a positive view of ageing were more likely to see improvements in both physical and cognitive performance.
In Australia, depression rates are lowest among those aged 65 to 85. Researchers say the body’s decline happens much later than most people realise. If you are a homeowner approaching or in retirement, this research matters for more than just your health. Your mindset shapes the property decisions you make too.
What the research says
A Yale University psychologist, Prof Becca Levy, tracked more than 11,000 people aged 50 to 99 over 12 years. She found that 44% of participants actually improved in walking speed and memory during the study. Those who improved were more likely to have entered the study feeling positive about getting older. Attitude plays a measurable role in how well people age physically and mentally.
Prof Brian Draper, a psychiatrist at UNSW, puts it plainly: the happiest time of life is as you get older. He notes that retirement typically improves most areas of life, and that the body and mind can function well for much longer than people expect.
Mindset and money
For homeowners, a positive outlook on ageing is especially relevant. Property is often the largest asset Australian households hold. For many people over 60, the family home represents decades of equity. Whether you use that equity, hold it, or trade it down depends largely on how you see your next chapter.
Australia is sitting on an estimated 13 million empty bedrooms, mostly in homes owned by older Australians who have not yet considered their options. That is a lot of untapped potential. A homeowner who sees the third age as a time of opportunity is much more likely to act on their property planning for seniors than one who sees it as a time of decline.
Researchers from the UNSW Ageing Futures Institute note that a positive view of ageing leads people to take action on health issues rather than accepting them as inevitable. The same logic applies to financial decisions. If your home is your biggest asset, you deserve a clear plan.
Downsizing with confidence
Downsizing is one of the most common property planning decisions seniors face in Australia. The financial case is often strong. Selling a large family home and buying something smaller can free up hundreds of thousands of dollars and reduce ongoing costs significantly.
Many people delay this decision, sometimes for years, because they view it as admitting defeat. Research now suggests this thinking is backwards. Downsizing is a deliberate, forward-looking choice that gives you more flexibility, more cash, and often, more enjoyment of your retirement years.
Before you make any move, check your costs. Use the stamp duty calculator to understand what you will pay on your next purchase. Some states offer stamp duty concessions specifically for older buyers, which can reduce your upfront costs significantly.
Home equity options
If downsizing is not right for you, there are other ways to access the equity you have built. Equity release products, including reverse mortgages and home equity access schemes, allow eligible homeowners to draw down on their property value without having to sell.
These products are not right for everyone. There are costs, and they reduce the asset value you leave behind. But for a homeowner who is asset-rich and cash-poor in retirement, they can make a real difference to your quality of life.
The 2026 updates to aged care support programs also matter for homeowners. Understanding how aged care changes affect older homeowners helps you plan around both your property and your care costs at the same time.
Your next steps
The research on positive ageing points to one consistent theme: people who take action get better results. That is as true for your property planning as it is for your health.
If you are a homeowner over 55, start by understanding your current position. In retirement, income looks different and lenders assess your application differently. Speaking to a mortgage broker gives you an honest view of your options before you need them urgently.
The best property decisions are made when you have time to compare choices. Check your borrowing power today and speak with the team at Serres Property Finance about what is possible for your next chapter.
Common questions
Q: Can I get a home loan if I am retired or over 60?
Yes. Lenders assess income differently for retirees. Super drawdowns, rental income, and other assets can all count toward serviceability. The key is showing you can meet repayments and that you have a plan for when the loan ends. A mortgage broker can match you with the right lender for your situation.
Q: What is equity release and is it right for me?
Equity release lets you access money tied up in your home without selling it. Products include reverse mortgages and the Government’s Home Equity Access Scheme. Whether it suits you depends on your age, home value, income needs, and estate plans. Get independent financial advice before committing to any product.
Q: How does downsizing affect my pension and taxes?
Selling your home and buying a smaller one can generate a cash surplus that may affect your age pension entitlements. You may also be able to contribute proceeds into superannuation under the downsizer contribution rules. Speak to both a financial adviser and a mortgage broker before making any moves.