Thinking About Downsizing? Here’s How NH Seacoast Homeowners Are Buying Their Next Home Mortgage-Free

If you’ve been thinking about downsizing—whether to reduce your monthly expenses, move closer to family, or simply enjoy an easier coastal lifestyle—there’s a growing real estate trend you’ll want to know about.

More and more homeowners on the New Hampshire Seacoast and in Southern Maine are buying their next home in all cash—no mortgage, no monthly housing payment. And if you’ve owned your home for several years, you may be in the perfect position to do the same.

40% of U.S. Homeowners Are Now Mortgage-Free

According to recent data from ResiClub and the U.S. Census Bureau, over 40% of U.S. homeowners now own their homes free and clear—the highest level ever recorded. That means 4 in 10 homeowners no longer carry a mortgage (see graph below).

One of the biggest drivers of this trend? Baby Boomers—many of whom have spent decades in their homes, building equity and paying down loans. If you’re in or near retirement, you could be sitting on significant buying power without even realizing it.

Turning Home Equity Into All-Cash Buying Power on the Seacoast

Here in Portsmouth NH, Rye, Exeter, Hampton, and Seabrook, many homeowners are choosing to sell their current home and use the proceeds to buy their next property in cash—especially when moving to a smaller or more manageable space.

The advantages of an all-cash purchase include:

No monthly mortgage payments
Less financial stress during retirement
A faster, simpler closing process
Stronger offers in competitive markets

Whether you’re looking at a waterfront condo in Portsmouth, a cozy cottage in Rye, or a low-maintenance home in Southern Maine, all-cash buyers are in a great position to move quickly and confidently.

All-Cash Sales Are Rising Across the Country—Especially in the Northeast

New data from John Burns Research and Consulting and Keeping Current Matters shows that the number of all-cash purchases is increasing nationwide—and the Northeast saw one of the biggest jumps, from 15% in July 2024 to 21% in July 2025.

This is a strong signal that buyers—especially downsizing Baby Boomers—are using home equity to their advantage. If your current home is mortgage-free or nearly paid off, you could sell and use the equity to purchase a smaller, lower-cost home without taking on new debt.

Downsizing Doesn’t Mean Downgrading

Many clients we work with across the New Hampshire Seacoast and Southern Maine are finding that downsizing actually means upgrading their quality of life:

Less maintenance
Lower utility costs
More financial freedom
More time with loved ones
Closer access to beaches, nature, and charming coastal towns

From the vibrant downtown scene in Portsmouth NH to peaceful neighborhoods in Exeter or scenic ocean views in Hampton and Seabrook, there are a wide variety of lifestyle options for downsizers who want to stay connected to the beauty and culture of coastal New England.

Bottom Line: Let Your Home Work for You

If you’ve built up equity in your current home, now could be the perfect time to put it to work. Downsizing isn’t about giving something up—it’s about making life simpler, more flexible, and more fulfilling.

Whether you’re just starting to explore your options or ready to make a move, we’re here to help.

Let’s map out your next chapter—mortgage-free.

Jim Lee & Ann Cummings – RE/MAX Shoreline
Local experts in Portsmouth NH, the New Hampshire Seacoast, and Southern Maine real estate.