Knowing when to downsize is never as simple as it seems. Having to settle for a smaller space after years of living in a larger home take some time adapting to. Below we've listed 5 reasons why it might be time to downsize from your 4 bed detached...
You've got so much space you don't know what to do with it all. The husband has put a snooker table in your daughter's bedroom and turned your son's room into a study. It seems for all the world you have that mansion you've always wanted. But when you have a property that gathers more dust than it does value, it might be time to stick a for sale sign outside that door.
Linda down the road has just sold and made a nice little sum. Perhaps it's time you made a little profit yourself. At times it might feel tempting to stay where you are - less hassle and all that. But the hassle of moving will be worth it when you have an extra £40,000 in the bank. A nice little top up to the retirement fund which leads us on to...
Sometimes needs are a must and that pension pot might need filling up. Putting the house up for sale so that your retirement fund can reap the rewards may not be such a bad move.
Because heating a whole house is pointless when you and your better half only use three or four rooms. A bigger house costs more to maintain and manage.
Of course, one's health can be a deciding factor when deciding whether to downsize or not. If the regular journey up and down stairs becomes is becoming strenuous, a bungalow may be more appropriate.
- 1 September 2016