During the pandemic, many people have been reflecting on their living situation and their needs moving forward. If your circumstances have changed, for example, your children have grown up and moved out or you have recently retired, you may be thinking about downsizing.
Here are six important reasons you may wish to downsize your home:
1. The garden
Has your garden become unmanageable? Perhaps it is taking up too much of your time, it is becoming too much work, or you are now unable to care for your garden as you used to. Employing a gardening service can result in significant costs and you may not feel it is necessarily worth it. Perhaps moving to a home with a smaller garden or outdoor space will be easier to maintain and look after yourself.
2. Family circumstances
Perhaps your children have grown up, moved out and have settled elsewhere. You may want to move closer to family members, particularly if you have grandchildren. It is becoming more common for families to move around the country, or even the world, and so if it is too far for them to visit you regularly, you may consider relocating.
It can be tiring maintaining a large home, particularly if your circumstances have altered and you now live alone or with your partner. Ask yourself, are you heating rooms you no longer use? Do repairs need doing or rooms updating? A smaller, recently refurbished home or even a new home may be the answer as it will be more affordable to heat and run and will require little or no maintenance. Make a list of the running costs for your current home and contemplate whether it is cost-effective and worth the additional bills.
4. Take time for yourself
If you have recently retired, not only may you be considering downsizing to a more maintainable property, you may also be planning time to spend with loved ones, or simply to take more time for yourself. If your ambition is to travel, spend quality time with family, enjoy your hobbies, or simply to reduce your outgoings, selling your property and looking for your next dream home to satisfy the next chapter of your life may be the answer.
5. Invest in a second home
Are you lucky enough to be considering investing in an additional property? Maybe you would like to spend your winters in the sun on a golf course, or perhaps you would like a home by the sea. You may want to split your time between a country house and a city pad, or maybe you would simply like to invest your money wisely to offer your family security in the future. Whatever your reason, you may want to consider downsizing from the home you currently live in to reduce overall costs and to accommodate for your new investment.
As we get older, certain aspects of a home can become more challenging. You may consider moving to a bungalow or a property with a ground floor bedroom and bathroom to ease those daily challenges within a space that is easy to move around, to clean and take care of.
Whether you are actively looking to downsize, or you wish to prepare for this in the future, our agents are available to help. Contact your local Fine & Country office today.