Growing numbers of these so-called 'empty-nesters' - often in their early to late 50s with young adult children - are choosing to sell the family home and find a smaller, more manageable property.
More and more are waking up to the unnecessary expense of owning and maintaining a larger home, while using leftover cash from the sale to finance what can be a new and exciting change of lifestyle.
Morris, one of the country's largest privately-owned house builders, says apartments can be an ideal choice for people keen to free the capital tied up in their family home and downsize.
Cindy Vials, regional sales director for Morris, says: "Many homeowners nearing retirement age see their property needs change, meaning their home is often inappropriate for their new lifestyle. Apartments represent an excellent, cost-effective alternative which can be cheaper to service and easier to maintain than other properties, such as bungalows."
Morris, which has a number of new-build developments with apartments across Leicestershire, points out the following benefits:
Second home - some downsizers can use their sale proceeds to buy two new properties - an apartment as their first new home plus a second property as a holiday home, either abroad, in the UK or just closer to children or grandchildren.
Pension - with a growing pension crisis, more and more homeowners are downsizing and using the balance of their sale proceeds to boost their personal savings in retirement.
Cost - a new-build apartment is less expensive to run than a larger family home. Firstly, you're only paying to heat the space you're using; secondly, Council Tax payments may also be cheaper if the property is in a lower price band; thirdly, routine maintenance costs are significantly lower than larger, often ageing properties.
Maintenance - with living accommodation over one floor, apartments are easier to clean and maintain, which can be an important consideration for older couples. Many new-build apartments will also be covered by a 10-year warranty if repair works become necessary.
Travel - cash released from the sale can also be used to enjoy the finer things in life once retirement comes, such as foreign travel.
Access - the majority of apartment buildings have ground floor properties, which make accessibility for couples who are less mobile.
Cheaper alternative - traditionally, older couples downsizing have looked at bungalows, which invariably carry a premium due to the increased plot size required. Apartments are normally more cost-effective based on price per square foot.
Cindy adds: "A growing number of more established homeowners are showing interest in our new-build apartments as their preferred method of downsizing. For many, owning two smaller properties in different locations is a better fit for their changing lifestyle. Others are just looking to liquidate some of their assets to provide greater financial stability in their retirement."
Morris has a choice of apartments at most of its developments. One such site is Spring Place in Market Harborough (www.morrishomes.co.uk/spring-place/).
The successful Leicestershire development has a collection of 24 two bedroom apartments in the heart of Market Harborough. Buyers will find plenty of amenities on their doorstep and an easy commute to Leicester, Coventry, Northampton or London via the local railway station."
For more information about Morris' Spring Place call the sales office (open Wednesday to Monday between 10.30am and 5.30pm) on 01858 410000 or visit www.morrishomes.co.uk/spring-place/.