A home is frequently a retiree’s biggest asset, and it can hold strong sentimental value, as well. That can make it difficult to know the perfect time to downsize.Moving at the right moment can lead to vast savings, depending on prices and mortgage rates. Bigger homes usually have higher taxes and insurance premiums, plus bigger maintenance costs. The sooner they’re sold, the faster retirees can use that money for investing or pleasure. And once they’re sold, there’s no nest for adult children to move back into. But it doesn’t make sense for a retiree to downsize unless there’s benefit, meaning walking away at the end of the sale with cash in hand. Nor does buying a smaller home that’s more expensive help anyone. It’s also important retirees learn the tax laws, especially in states they’re considering moving to, plus the cost of living and healthcare options there. Whether to save, spend or invest profits from a home sale is an important decision. Investing is wiser than spending, but many choose to live off of the profits while delaying Social Security and leaving their retirement accounts to grow. Owning multiple homes, such as a winter and summer residence, means paying an extra mortgage, plus bills and maintenance costs. Expenses can add up quickly and deplete savings. Retirees should also determine if buying a new home in cash will be better than taking out another mortgage.