Whatever your reason for downsizing, the advantages that it can bring are varied!
Downsizing, moving from a larger property to a smaller one, has long been dominated by retirees looking to free up equity from their home, or as a result of being unable to manage an extensive home.
Whilst the homes we provide are not suitable for that age demographic, our communities have a lower age limit of 45, so we do know a thing or two about downsizing.
Here are our top five reasons to downsize whatever your age…
Perhaps top of our leader board is simply to free up equity. Many family homes have several rooms that are empty once children have flown the nest. Moving to a smaller home means that some of the cash tied up in the asset can be freed so that several of those bucket list ambitions can perhaps be met! Perhaps that sports car you’ve dreamed of could become reality!
Day to day costs are reduced. A small home means smaller bills and reduced maintenance costs. Everything to go in a smaller home will be cheaper, so significant monthly cost savings could be achieved.
Smaller is simpler. A smaller home means less to clean, less to tidy and less places to keep items ‘just in case’. Living a more streamlined lifestyle can be incredibly freeing – just ask those who’ve done it – and leaves more time to enjoy other pastimes and socialising.
Time for a new start. Downsizing can be a great way to drive a new start – a new home, perhaps in a new location, with more time to spend doing what you love and with those who are important to you.
Manage long term finances more effectively. Moving to a smaller home can free up funds for investment in retirement, to help children through university, or could allow you to buy a second home abroad, or a bolthole in a favourite UK based location.
Whatever your reason for downsizing, the advantages that it can bring are varied – many of our homeowners have benefitted from doing so; could you?
