Downsizing: Top Tips and Reasons to Make the Move

February 19, 2018

According to McCarthy & Stone, the leading retirement builder in the UK, “48% of pensioners are considering moving to smaller homes.” What are the benefits of downsizing and how can you make it work for you?

There are many reasons for downsizing and it shouldn’t always be seen as an ‘expensive’ change to make to your life. Granted, there are costs incurred any time you move house but these can often be outweighed by the advantages of a smaller home. It’s not just elderly people who are choosing to shrink their homes but younger people and families too. Keep reading to find out why we think downsizing is underrated and how to make it work for you.

Advantages that come with downsizing

Let’s start by talking about some of the great reasons to move into a smaller property. Often, there are misconceptions that travelling up the property ladder and moving through life mean one thing: getting a bigger and better house. Well, we’re about to put a spanner in the works! Sometimes, bettering your wellbeing and lifestyle needs the exact opposite solution. Here are some advantages to downsizing:

1. Cutting costs

Of course, as we mentioned earlier, moving house incurs costs. Overall, however, you can dramatically slash your bills by owning a smaller home. Fewer rooms to heat is an obvious example. Downsizing your property is likely to mean downsizing your mortgage too! Often, when children grow older and leave to start their own families, parents are left with empty bedrooms. This is a great reason to move to a smaller property and will obviously result in lower monthly costs. Fewer people using utilities will almost definitely minimise bills. Let’s not forget about the dreaded council tax, too. And even if you’re not struggling with your current outgoings, having a little extra cash to spend could increase your quality of life. Who can argue with that?

2. Combat loneliness

We just mentioned the fact that children fleeing the next can leave parents with empty bedrooms. This can be especially hard on single parents who might feel the effects of a big, spacious house with no-one running around! Moving to a smaller property will help you to feel cosier and less alone, especially if you move to a built-up, residential area with a great local community. Even if you’re not single and you live with your partner, you’ll likely feel a lot safer on those nights when the other half is working late or out with friends.

3. Less maintenance

A smaller home obviously comes with fewer rooms. Unless you’re one of the lucky people who hire a cleaner, you’ll have a lot less work to do with a downsized property! And less weekly cleaning to get done means for time to spend doing the things you really love. This is often a great advantage for elderly people who might not be as fit as they used to. It’s easy to forget but housework can really take its toll. Let’s not forget about gardening!

Our top tips

Although we think downsizing can be a fantastic opportunity for couples, singletons and smaller families, there are also a few key points to consider. If cutting costs is your overall goal, make sure you’ve done the calculations on how much the move will cost. Fees, stamp duty and all the other lovely things that come with moving can soon add up. Bear this in mind and make sure you do your homework before getting too excited! You should also consider the area you’re moving to. Downsizing may mean moving to a different area away from friends and family or somewhere you’re not particularly fond of. Think about what’s really important in this situation.

If you are within the over 50s age range then you might want to start planning your move to a smaller home sooner rather than later. Moving is a tiring job and can really take it out of you! If downsizing is something you really want to do, then try to get the cogs turning now while you are still able to pack boxes, potter about and integrate with a new community.

Use this exciting new venture as a chance to change up your lifestyle. Moving to a smaller home might not be your only goal – you may fancy a change of scenery, a new town to explore or a busier, city-based lifestyle. There are so many reasons to move into a new house and downsizing may just the kickstart you needed.

We also recommend thinking very carefully about whether you would like a newly built or older home. Both come with their advantages and there’s no point in not considering this as it could heavily affect your downsizing plan. For example, new builds can contribute to your cost-cutting as they tend to be more energy efficient. On the other hand, an older home may give you more room for negotiation on price!

Let us know your thoughts

Have you ever considered downsizing? Are you in the process of making this move at the moment? Let us know over on our social media how you feel about moving to a smaller home and what the benefits might be for you. In the meantime, check out some of our properties to see if one could take your fancy… you never know, you might find your forever home!

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