Decided to downsize?

1st September 2017

Whether the children have all flown the nest or you're just looking for a smaller home to care for, downsizing is often the answer. It can be a daunting thought for many as possibly leaving behind the years of memories or facing the task of discarding the unnecessary items and furniture can be difficult to consider. However, with help from our friends at Moneywise.co.uk see below a handy list of top tips on downsizing as well as a selection of properties currently for sale or rent with either 2 bedrooms or less.

Property Type

- If you're a retiree, consider buying a new-build property, which means your home will be virtually maintenance free and energy efficient to keep your costs to a minimum.

- A good idea is to look at property with space to extend at the back or side, which will help you get back that lost space in the future.

- Don't just consider your needs as they are now, but make sure it will suit you, or can be adapted, when you become less active and possibly less mobile. Psychologically, think of this as a new step forward, not the last property step a feeling that can often deter downsizers.

- Don't overlook practicalities that might become necessary later in life.

- Try not to re-create exactly what you had on a smaller scale. Think of it as a new start and an opportunity to live in a different way.

Location

For many, downsizing may be your last property purchase, so do your homework and make sure youâ??re buying the right house in the right area.

- Consider the area you want to move to. A development with a community feel will give you the chance to meet a wide range of people and make new friends.

- Before you start planning the 'what', establish the 'where'. This is by far the most important aspect of your move. Moving near family is frequently a sensible move, but don't discount the fact that moving away from an established social life will be a wrench. Consider the demographic of the new area.

- More and more retirees are choosing to live in towns and busy villages. A central location, within walking distance of everything you need day to day, can be a great choice.