When you are a homeowner, more often than not it’ll likely come to a time where you are ready to downsize. But is never an easy decision to make, especially if you have lived there for many years and created lots of memories.
There comes a point where it seems necessary, especially if your retirement is fast approaching and having a smaller space to look after seems logical. So, when is it time to downsize your home? Below are 5 reasons why it may be a sensible idea for you to downsize.
Timing can be a key factor when it comes to selling your property. Look to see if your home has significantly increased during a strong housing market, selling at the right time could means lots of profit. Take a look here at our free instant online valuation tool and see how much your property is worth today. (add link)
Having a spare room can come in handy when having guests visiting, but when you have multiple spare rooms that have not been put to use for some time, then it may be a sign it is no longer needed and a smaller house may be for you. The same applies to reception rooms, do you have a spare reception room that is just collecting dust?
Having extra rooms that you no longer use will cost unnecessary time spent cleaning and money on heating.
This is the most common reason why long-term homeowners choose to downsize. This is because people want to build on their retirement savings. Be tactful when buying your new home though, as it is much easier to get a mortgage while you are still fully employed. If you are looking to find a new job or get back into work, we can help. Take a look here at the different job roles we have available at the minute.
Are you an empty nester whose children have moved away? As hard as it may be leaving the house filled with memories, it is probably the most sensible thing to do. Also, if you live far away from your family it could be an idea to move closer to them, to ensure you are not missing out on making loads more special memories.
Your health is always the top priority, so when thinking about downsizing ask could a smaller home benefit your health. If you are constantly up and down the stairs it could be a good idea to consider a bungalow. Bungalows usually come with more outside space and are much easier to maintain.