HOUSEBUILDER Barratt Homes has compiled a list of key signs that it is time to downsize.

The developer says it can be hard to move on from a property full of memories, but relocating to a smaller home can be an opportunity for a fresh start.

Barratt's sales director Michaela Lancaster said: "We’re seeing an increasing number of downsizers looking for properties which still give them the space they need for visiting grandkids."

Here are Barratt's four top indicators that the time is right to consider a move:

1. The children have flown the nest and you have too many spare rooms to make use of.

2. It's time to free yourself of years of clutter and have a good clear-out.

3. Keeping on top of DIY chores or the garden is getting challenging, and you need a more manageable home that requires less upkeep.

4. You've paid off your mortgage and would like to release some equity for your retirement, for a rainy day, or to put aside for the family.