Have your babies flown the nest…finally? Do you feel like you’re rattling around in a house that now is far too big? Maybe it’s time to start thinking of downsizing. Not the most enticing word for what could be a big change in your life. So you should not think of it as downsizing, but finding a property that is right for you and your needs going forward. There are some advantages to the property that is big enough to fit your needs.
When you sell your existing property you will probably release equity which can go into topping up your savings. Your mortgage will be smaller or you may be at an advantage of being ‘mortgage free’, leaving you with a monthly income and savings that you can spend on other things that you like or need.
You will probably also notice a saving in outgoings for your monthly or annual bills, as you will consume less water, gas and electric. It also means that when you come to move to your new property you will be able to arrange the long awaited de-clutter, as storage space may be a little less.
All the jobs around the home such as cleaning and vacuuming will take considerably less time which can free up your spare time to spend doing the activities you want to do.
One of the hardest things to do is to make that decision and stick to it. When downsizing lots of people become anxious about moving from the family home that has hosted so many memories of a growing family. But, as I say to all my clients who are embarking on a new chapter in their lives. Memories never leave you, they’re always a part of you, no matter where you live.
When the decision is made and you’re ready to embark on this new journey, do your research and plan. Work out where you’d like to move to and what type of property you are looking for. This is especially important with the older generation. Make sure that when you are planning that you think about scenarios regarding your future health and mobility. Is there a local shop nearby for basic necessities? Are there good transport links into the local town or doctors surgery?
All things considered, creating a new chapter in your life shouldn’t be daunting, but more along the lines of exciting!