There are many life situations that would be reason for wanting a smaller home.
These issues usually relate to Health, Money and Retirement.
The need and desire to downsize can be related to all of these issues. 
Health issues and Downsizing
That lovely 2 story home that was the perfect place to raise your family may not be so perfect anymore when climbing the staircases begins to feel like a daily climb up Mount Everest. How about cleaning all those bathrooms? Let’s not get started on the vacuuming…perhaps they can design a vacuum model that you can strap to your back so you can lug it all up and down all those staircases.
If you are an empty nester, then perhaps it is time to rethink the benefits of living in the big family home and look at an easier living arrangement. It could mean the difference between years of health and well being and years of pain and frustration. Perhaps you could consider moving to a smaller home, getting into a condominium with little or no maintenance or apartment living.
Money and Downsizing
Are you sitting on a gold mine? If your home is paid off then you just might be. People who have paid off their homes years ago may not realize the equity that is sitting right under them.
With a fixed income and cash flow being an issue for many retired boomers then selling and moving to a less expensive living arrangement is the answer. Smaller homes have reduced costs in many ways…one of them being lower energy costs. This would reduce the amount that is needed monthly to pay for expenses.
Retirement and Downsizing
The freedom of leisurely Golf games, hanging out with the Quilters and getting involved in the community are a few of the obvious benefits of Retirement.
Now that you have all the time in the world to do what you want to do why aren’t you?
The reasons for wanting to Right Size/Down size can vary from lack of funds, not enough time or perhaps disorganization is the real culprit.
Cleaning professionals say that 80% of household congestion – whether in a drawer or closet, on the counter, table or desk, or even the whole room – is the result of disorganization rather than insufficient space. Cleaning professionals say that getting rid of excess clutter would eliminate 40% of the housework in an average home.
Here is a great decision making tool to help you with your Downsizing efforts.
The Quick Quiz
Ask yourself the following questions:
• Have I or anyone in my home used this item in the past year? Yes/No
• Will it be needed on a definite date in the future? Yes/No
• Do I love it or does someone in the household love it? Yes/No
• Do I need to keep it for legal or tax purposes? Yes/No
• Is it more important to me to keep this item than to have the space it occupies? Yes/No
• Would it be difficult or expensive for me to get another one? Yes/No
• Does this item serve a worthwhile purpose in my life? Yes/No
There are no right or wrong answers, but a “Yes” answer to any one of the above questions provides a sound reason to keep that item. If you answer “No” to every question then it is time to let go.
At the end of the day I am sure you can agree, you just want to make life easier.
Take the time, eliminate the things that no longer serve a purpose in your life and enjoy the benefits of Downsizing.
This article is from the KV Style magazine column of Feb 17,2012

Hi Elaine,
Very well said! As Baby Boomers are reaching retirement age, homes may simply be too large for various reasons. And the concept of having time to do the fun things in life is good motivation to let the castle go and enjoy living in a smaller space on the equity it will bring.
Moreen
Even though we are years away from retiring we are letting the castle go in exchange for a simpler life, lower payments and more disposable income for travelling.