Ed Stevens made such a great comment that I wanted to highlight it:

My own parents retired in place. They paid off the home where my 3 brothers and I were raised. While they might not necessarily still need a 5 bedroom home in there 70′s they also have no desire to move. They were also able to come up with new uses for some of the space. My childhood bedroom was converted into an office. Another of my brothers childhood bedroom was converted into the craft/computer room. The other two boys childhood bedrooms became guest bedrooms. When I ask them why they stay they say they know and like their neighbors. If they moved somewhere else they would need to make new friends and my mom fears that as they have get older that might be difficult. For similar reasons my parents don’t want to attend a different church or find new places to shop. While the current furniture is dated, it matches the house that also hasn’t been updated significantly from the 1970′s. Lastly the large house provides plenty of room for the kids and grandchildren to sleep when we go to visit them.

There is a great deal of wisdom in this comment. There comes a point in your life when you do wish to stay put–for a variety of perfectly understandable reasons.