Downsizing Property Search Service

Downsizing advantages

There are numerous benefits to downsizing, improved finances being the most obvious. The release of capital allows for lifestyle improvements, and / or for helping out family members. Lower maintenance costs and time commitment are also a big advantage.

Downsizing doesn’t just mean smaller, it can mean improved arrangement of space to suit a new later-lifestyle. Compromises that may have been made when buying the family home can be improved upon; many downsizers find they have never been happier once they’ve made the move, despite initial concerns.

One of the best things about downsizing is that once it’s been done, there should be no requirement for another move. Downsizers should ensure that the property meets future needs, or can be adapted to suit later life.

Advantages to downsizing are often only fully appreciated after the move has taken place. The improved lifestyle, proximity to family, amenities and transport, decreased maintenance issues, and improved or specialist ergonomics can be incredibly liberating.

Family dynamics and downsizing

In our experience, the biggest hurdles to downsizing are emotional rather than practical – the fear of change, reluctance to let go of the past, and the emotional hoops that will have to be jumped through to decide what to replace the family home with.

An excellent early downsizing exercise is to draw up a list of every benefit you can possibly think of. Finances are likely to feature strongly on the list, and the advantages of a lower maintenance property, but be really clear about the good things that will come out of the move. Be specific, not just more holidays, but a particular adventure that you’ve always wanted to go on; the idea of walking to shops, bars and cafes if you’ve been remote; the prospect of a property that faces the right way if you’ve been suffering a north-facing home for decades.

It really helps to think about the kind of property that will work well for an empty nest – your square metres will be all about you, not sucked up by all the bedrooms you needed to accommodate the family. It’s a mistake to try to recreate exactly what you had on a smaller scale. Think of it as a new start and an opportunity to live in a different way. For instance, you can have a bathroom each, a quiet extra sitting room, or a studio, or whatever it is that will give you joy. And rather than insisting on squeezing all your old furniture into the new space, take the opportunity to re-think and redesign.

Choosing the correct location at this stage is vital. The idea of the extended family living within range to offer support to each other is often favourable. Being within a fifteen-minute drive is a great aspiration, close enough to ‘pop’, but not so close as to cramp each other’s style.

Our advice is always to consult the family at an early stage – there may be issues that affect your decisions that you are unaware of, and if all relevant parties are aware of your intentions, it prevents problems arising at a later date. But try to be resolute and put your own needs first.

One of the best things about downsizing is that once you’ve done it you shouldn’t have to do it again!