Last year, a friend mentioned that he and the missus were moving to a condo after the sale of their landed property. "What, you're giving up your beautiful garden?" I asked. Not long after that, another friend moved to an HDB flat after selling her condo. Both my friends are in their 60s and I was surprised that they were willing to give up the homes in which they had lived for more than two decades.
What struck me was that these were pre-emptive moves, not driven by any urgent imperative. Financially, my friends are comfortable enough to continue living in their properties as they are either semi-retired or only recently retired. Health-wise, both are active and mobile.