Page 34 - February 2024

PROPERTY ADVICE

How to downsize
are: do you want a spare bedroom for
Thinking of making the move guests, or a big kitchen for hosting family?
Are you keen to keep a garden, or would you
to a more manageable home? prefer to keep everything as streamlined as
We show you how it’s done. possible? Consider the belongings you own
and what you’d be willing to declutter – it
might help you to decide on the number of
bedrooms you need or how much storage
or homeowners of a certain age, selling space will be required.
the family home and downsizing to
Fa smaller property is a popular rite of It’s also a good idea to think about
passage. Once the children are grown or you accessibility. You might be absolutely fine
no longer have a daily commute to consider, with a second floor flat now, or buying a
maintaining a larger property could start to house with an upstairs bathroom, but if
feel like a chore – especially if you have a you intend on living in this property as an
garden to manage, or your property requires older person, it’s sensible to consider how
regular upkeep. accessible it can be. A modern block with
lift access, wider hallways and multiple
Maybe you’ve retired and now the upkeep is bathrooms could be more manageable than
no longer financially viable – or perhaps you’re a smaller house, or perhaps you could find
just excited to finally fulfil those dreams of a cosy bungalow where modifications could
retiring to the coast or the countryside. more easily be made.

The decision to downsize your home can be a Ease of maintenance is key: a traditional
challenging one: after all, your current home The next big decision to make is the location of Another key element of location is choosing property has plenty of charm but can have
may well be the property you brought your your next property. Do you dream of living by the somewhere that’s accessible for friends and its pitfalls. A modern home might not have
children home to, where you lived out some sea? Or maybe you’ve always loved the idea of family. Even moving away, you likely won’t want the same character, but arguably they can be
of your most magical memories. It might be waking up to views of rolling hills? Perhaps you’ve to feel isolated from your loved ones, and ideally much easier to maintain, and more energy
somewhere you’ve lived for decades, and the had your time in the suburbs, and you’re itching it will be easy for you to visit them, as well as efficient, meaning cheaper bills.
thought of moving somewhere new could be to find a home in the city, with everything on for them to take trips to you. As you grow older,
a daunting prospect. your doorstep. Wherever you’ve set your heart this may become even more important, but Finally, think about the exterior. Is a garden
on, there’s lots to think about when it comes to you might also want to prioritise being around a must, or would you rather skip the
Whatever your situation, there are a few location – things that might not be a big issue your grandchildren, helping with childcare and maintenance and walk to a nearby park
things to consider when it comes to picking now, but if you plan to live in this property as you spending time with them as they grow up. instead? Do you need a parking space or a
your next property to make sure that you’re grow older, there are things that may become garage, or are you looking forward to taking
making the best decision for the long term. much more important in the future. When you’ve decided on your location and your advantage of your bus pass?
budget, it’s time to think about the style and size
The first thing to consider is the budget you’ll Do your research and pay plenty of visits to the of property you’d like to move to. Bungalows With careful planning and consideration, you
have to spend. Downsizing usually equals a location you’re thinking of, to make sure it’s right are a very popular choice, as are ground-floor can easily find your dream downsizer home
cheaper property, but you should book a free for you. Carefully consider the amenities on flats. Think about what will be easy to maintain and relocate to the retirement you’ve been
valuation with an ESPC solicitor estate agent offer - are there shops, supermarkets, and cafes as you get older, as well as what your priorities waiting for.
to ascertain the budget you’ll have available. nearby, and is there good access to medical
You can then check ESPC’s House Price facilities? What are the public transport options
Reports to find out the average property like – will you be able to easily get buses or trains,
selling prices for the area you have in mind. or will you need to rely on driving, or even taxis? If you’re ready to downsize, head to espc.com to book a free valuation and
start the search for your dream property.
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