Downsizing property? For many homeowners across Cork and West Cork, the idea of downsizing starts as a quiet thought:

“Do we really need all this space anymore?”
“Would a smaller home make life easier?”
“Is now the right time to plan ahead for 2026?”

If you’re asking yourself these questions, you’re certainly not alone.

According to the Economic and Social Research Institute (ESRI), around 88% of people over the age of 65 in Ireland are living in homes that no longer suit their needs. Many of these properties are too big, difficult to heat, expensive to maintain or simply no longer practical for the next stage of life.

Across communities such as Clonakilty, Bandon, Kinsale, Carrigaline, Innishannon, Skibbereen, Bantry, Macroom and Ballincollig, more and more homeowners aged 50+ are starting to think about what comes next.

This guide will help you understand the benefits, challenges, practical steps, and what’s changing for downsizers in 2026.

Want to speak to us directly to discuss your property? Click here to contact us.

Why So Many People in Cork Are Downsizing

People downsize for many reasons, but the most common ones we hear every week include:

1. Less Maintenance, Less Stress

Large gardens, multiple bathrooms, long driveways and stairs all require upkeep. A smaller home gives you time back — and peace of mind.

2. Better Access to Amenities

Downsizers often choose vibrant town or village locations such as Clonakilty, Bandon, Kinsale, Innishannon or Macroom, where they can walk to shops, clinics, cafés and community services.

3. Freeing Up Equity

For some, releasing equity provides a more comfortable retirement.
For others, it allows them to help children get onto the property ladder.

4. More Suitable Living Spaces

Single-level living, modern heating systems, manageable gardens and energy-efficient homes can make everyday life easier.

5. Planning Ahead

A growing number of people in their 50s and early 60s are choosing to make the move earlier — so they can choose the home that fits them best, rather than waiting until they feel rushed.

Common Challenges when downsizing property (And How to Navigate Them)

Downsizing often feels like a big emotional and practical step. The challenges are real — but they’re manageable with the right support.

“I don’t know where to start.”

Many homeowners haven’t been in the property market for 20–30 years.
A step-by-step plan makes the process far easier.

“Should I sell first or buy first?”

This is the single biggest concern.
Nobody wants the pressure of being between homes.

New bridging finance (coming in early 2026) will help many by giving downsizers the option to buy before they sell — but it won’t suit everyone (more on this below).

Letting go of the family home

It’s emotional — every room holds memories.
But almost every client tells us the same thing afterwards:

“We wish we had done it sooner.”

Not wanting to make a mistake

This is why early planning, good information and expert guidance makes such a difference.

For expert guidance on your downsizing journey reach out to us by clicking here.

The Benefits of Downsizing your home in Cork or West Cork

✔ Lower running costs

Smaller, better-insulated homes are cheaper to heat and maintain.

✔ Easier day-to-day living

No more unused rooms, difficult gardens or endless maintenance lists.

✔ More financial freedom

Equity released from your current home can transform lifestyle comfort.

✔ A home that fits your needs

Whether it’s a bungalow, townhouse, apartment or coastal cottage, the right home supports your wellbeing.

✔ A lifestyle upgrade

Walkable towns, community engagement, shorter commutes, and more time to do what you enjoy.

How the New Bridging Finance for Downsizers Will Work

Bank of Ireland has announced new downsizer-focused bridging finance expected to launch in early 2026.

In simple terms, it will allow you to:

Buy your new home first, then sell your current one.

But it’s important to understand the details:

• Interest rate: 7% variable
• Term: Up to 12 months
• Security: Both properties
• Borrowing cap: Up to 60% of your current home’s value

This will certainly help many homeowners who feel “stuck” because of the timing challenge.

Should You Rely on Bridging Finance? What You Really Need to Know

While the new product is positive, it’s still important to take a practical view:

Bridging finance comes at a cost — 7% interest.

For most people, the best approach is still:

✔ Sell first — or at least be fully prepared to go to market quickly.

Being “market ready” means:

• You’ve had a full valuation
• Your BER is complete
• Your solicitor has your deeds
• You know your likely sale price range
• Your property can be launched quickly if needed

This approach:

• Reduces uncertainty
• Avoids unnecessary borrowing
• Gives you stronger negotiating power
• Makes the move less stressful

Bridging finance is a safety net — not a first choice.
Used wisely, it creates flexibility.
But being organised and market-ready is still the smartest strategy for most downsizers.

How to Start Your Downsizing Journey (Simple Steps)

1. Be clear on your “why”

Less maintenance? A better lifestyle? Closer to family?
Knowing your reason helps shape your decisions.

2. Decide what your next home must have

Think about:

• Layout
• Number of bedrooms
• Parking
• Energy efficiency
• Town vs village vs coastal living
• Proximity to shops and medical services

3. Explore areas that suit your lifestyle

Popular choices for downsizers in Cork and West Cork include:
Clonakilty, Bandon, Kinsale, Carrigaline, Innishannon, Macroom, Skibbereen, Bantry and Rosscarbery.

4. Get a professional valuation

This is essential for planning your budget and timing. Book Your Free market appraisal here

5. Consider the emotional side

Allow time to process the change.
The key is focusing on what your next chapter could look like.

6. Plan ahead for 2026

The new bridging option may be helpful — but having your current home market-ready gives you the strongest position.

Is Downsizing Right for You?

You may be ready if:

• Your home feels too large or too quiet
• Stairs, gardens or upkeep are becoming tiring
• You want to release equity
• You’d like easier access to amenities
• Heating bills are rising
• You feel ready for a simpler, more enjoyable lifestyle

If even one of these resonates, it’s worth starting the conversation.

Whether you’re considering a move in the next year — or simply exploring the idea — we can guide you through your options clearly and confidentially.

There’s no pressure and no obligation.

Sometimes the most important step is simply talking things through with someone who understands the journey.

Downsizing FAQs (Based on Common Google Searches in Ireland)

Is now a good time to downsize in Ireland?
Yes — especially with interest in smaller homes increasing and with bridging finance arriving in 2026.

Should I sell first or buy first when downsizing?
In most cases, selling first (or being market-ready) is still the safest and most cost-effective option.

Do I pay tax when I downsize?
It depends on your situation. We can guide you through the details.

Where are the best places to downsize in West Cork?
Clonakilty, Kinsale, Rosscarbery, Skibbereen, Bantry and Innishannon are among the top choices.

Written by Majella Galvin

BS (Hons) Real Estate | MRICS | MSCSI
Chartered Member of the Society of Chartered Surveyors Ireland (SCSI) and Royal Institution of Chartered Surveyors (RICS)

Majella Galvin is an award-winning Chartered Surveyor, Registered Valuer, and Director of DNG Galvin, a multi-award-winning, family-run estate agency serving Cork and West Cork for over 40 years. An award-winning industry leader, Majella serves as Vice Chair of the SCSI Residential Professional Group, is a committee member of the SCSI Southern Region, and is regularly featured in national media and podcasts, including The Irish Times, Irish Examiner, Virgin Media News, and iProperty Radio. With 17 years’ experience across residential, commercial, and agricultural property, she provides expert guidance and trusted advice to homeowners navigating the property market.

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