Memories made over a lifetime, or even just a few years, can keep you tied to a property even when a move would be the most sensible and cost-effective plan of action. Staying in a home that's too big or no longer makes economic sense may be stopping you from realising more financial freedom. We look at why it may be time to consider downsizing...
Running costs
If you have an older, larger home, you’ll already be aware that they can cost a significant amount of money to run. Heating, electricity, keeping on top of the renovations – the older the home the larger the bills.
The cost of living crisis had added fuel to the fire, with many energy bills increasing by in excess of £100 a month, making heating your large family home an additional burden.
Moving to a newer or smaller home can give you more financial control, reducing your monthly outgoings and leaving you with more cash to spend on the things you really want to do, such as saving for your children or those holidays you promised you’d take.
Making life easier
A large home with a big garden makes sense when you have little people wandering around and older children to house and entertain. But if they have flown the nest, or you are contemplating your next move as they are about to do so, moving to a smaller property with fewer jobs to undertake may give you a new lease of life just as your children are experiencing their own.
There’s joy to be had in any sized garden, and better to have manageable outdoor space that you can tend and enjoy instead of a sprawling landscape that you struggle manage. There would be no need to employ a gardener, saving you even more money.
Closer to amenities
Living closer to a town and good transport links can mean you feel more part of the action and can get around independently. A quick walk to the shops for your groceries vs. a car ride to the nearest urban centre will free up more of your time and give you more control. You never know, you may meet some new friends in your burgeoning social circles!
Old for new
Considering swapping your period property for a newer home can mean you reap the benefits immediately, from better eco credentials reducing your energy bills further to a property that doesn’t require endless renovation and therefore endless cash.
At Jackson-Stops we’ve seen a steady increase in the number of older buyers purchasing newer homes, attracted by the savings and reduced stress of owning a newer property. Developers are aware of this changing demographic trend and many are designing their homes to meet the needs of a more mature market.
The humdrum of moving
There’s a long list of less interesting jobs to undertake before you move, such as taking meter readings, cleaning, skip hire if necessary, organising a removal company and packing your belongings ready for the journey. If you feel that all those jobs would place too much pressure or strain upon you, especially if you’re having to deal with moving from a beloved family home, any estate agent worth their salt will be very willing to help with these these processes for you.
At Jackson-Stops we’ll do just that, leaving you free to concentrate on saving special memories and making new ones in your new home.
If you’d like to know more about how we can make your transition to a new home as stress-free as possible, please contact our branches.
