by ANNIE REID

It's a difficult time when the decision must be made whether to retire and downsize to a smaller home.

But it's a reality the ten million or so retirees currently in Britain might have to face, according to Pegasus Retirement Homes plc, and although it is typically an emotional experience, major compromises need not be made.

For most people, this move makes it necessary to down size', and may engender concern about the housing of possessions. Whilst obviously everything from a three-bedroom house will not fit into a one-bedroom apartment, if you look for good design and storage there is usually room for the most prized possessions.

Chief executive of Pegasus Retirement Homes plc, Peter Askew, said: "The very words retirement housing' can conjure up a picture of an institutionalised establishment where the residents' have little freedom. But with many options now available to suit both your pocket and/or level of needs, for those who make the decision the move very often presents new opportunities and a new lease of life with which to enjoy them."

One of the most popular choices of retirement property is a fully-serviced development, according to estate developers, Bovis Homes Retirement Living.

Marketing manager Ben Murray said: "Our full service developments are very popular with those people who want to relax and enjoy their retirement, safe in the knowledge that help is on hand should they ever need it."

With a court manager overseeing the running of the development, a beneficial feature is the round-the-clock staff, which aims to provide reassurance to both owners and their families. Other typical features include washing machines and clothes dryers in each apartment, saving a trip to a communal on-site laundry, extra security and communal areas such as hobbies room, social lounge and restaurant, enabling owners to entertain with convenience, as well as social activities.

Ken and Carole Marett recently moved into a purpose-built retirement development by Pegasus Retirement plc in Cheltenham.

Mrs Marett said: "We were coming up for retirement when Ken fell and fractured his elbow and we thought perhaps it was time for a change."

They didn't think such a move would give them so much freedom.

She said: "It meant a whole new lifestyle. When we moved into our new apartment we decided to treat ourselves and buy two brand new bikes. We both like cycling and it will keep us fit."

For those who haven't made the big move, here are some tips if you are thinking about taking the next step: u Put your house on the market. Get preferably three agents to give you quotes on how they will market your property and what it will cost.

u Inform your solicitor and financial adviser (if you have one) of your plans talk about your budgets.

u If you are staying locally, start searching by looking in the local media, visiting estate agents and purchasing specialist retirement magazines. If you are making a fresh start, try to obtain advance information before a visit using friends, family, local tourist information centre. Use the internet as well if you don't have it ask a friend.

u Pay a visit to the area of your choice. Check facilities such as types of shops, banks, post offices, libraries, medical facilities, entertainment, buses and trains, parking, supermarkets, clubs and organisations you may wish to join. Public libraries and information centres are always helpful.

For more information, phone Pegasus Retirement Homes plc on 0800 583 8844 or Bovis Homes Retirement Living on 01474 876363.