There are always possible advantages, depending on your situation. Many people find that their beloved home no longer meets their needs in one way or another. Perhaps it is too big, it is no longer near their family or friends, the yard is too much for them to keep up with, the maintenance on an older home is too great, or any other number of situations that now make the home in which they have felt so comfortable for so long now seem too much. A relocation, as daunting as it may seem can be a wonderful thing for many borrowers. There are so many 55+ communities that have smaller, more manageable homes that feature amenities that are perfect for older homeowners. Seniors can move closer to friends and families to gain the support network they may have lost in their current location. Oftentimes, a move that is a downsize (both residence and lot) allows senior homeowners to use acquired equity to buy newer or more amenity rich smaller homes that better serve the homeowner in a preferred location.