In many ways, the term downsizing doesn’t do justice to the process of moving to a smaller property because it sounds as if you’re regressing. It may be better to think of moving into a smaller property as “rightsizing” as you may well be happier and more comfortable in a more compact space.
Most people decide to rightsize as they get older, although you can opt for a smaller place at any stage of life. While it can feel sad to leave behind the family home, moving to a smaller home has a lot of advantages.
Downsizing can mean an easier life
A smaller home involves less housework and maintenance, which you might be finding increasingly onerous. Having less to do in the home can help you to stay independent for longer, as well as free up more time to enjoy your life.
You could release a lot of equity
Smaller homes cost less, so if you’ve built up a lot of equity in your old home, you could buy a smaller place outright and bank the rest (or spend it on the grandchildren and cruises, of course).
A smaller home means smaller utility bills
If you’re living in a smaller space, you don’t need to use as much energy to heat it, which will save you money each month. You’ll also pay less in house insurance and electricity.
Your environmental footprint will be smaller
This goes hand in hand with using less energy to heat the place. You’ll also need less work to maintain your property as it’s smaller, which involves less resources and materials.
Downsizing can mean a fresh start
You may decide to move nearer to the grandchildren, or you might decide to set up home in an entirely new area. Whatever you decide, you could have a whole new lease of life, with new friends and new activities to keep you on your toes.
Come and talk to us
Here at Elliot Oliver we know all about downsizing and we’ve always got some great properties that are just right for your golden years.
This detached three-bedroomed bungalow in Bishop’s Cleeve is just a few minutes from the local shops and other amenities and has a low-maintenance garden. With three double bedrooms you’ll still have enough space for family visits while keeping your DIY and cleaning quotient at a reasonable level.
If you’re looking for a more centrally-located home, then this ground-floor, two-bedroomed flat in Fairview might be a better fit for you. It has a patio garden and secure gated parking, as well as lots of storage space and an ensuite shower room.
