Downsizing

The day eventually comes when the family home, despite its wonderful memories, no longer fulfils the purpose for which it was originally purchased.

This usually coincides with an evolving lifestyle for people in early middle age and the freedom that comes with it. Mortgages get paid off and, as children become financially independent, costs fall – dramatically so if school fees are involved! This comes at a time when salaries might also have risen in line with more senior job roles.

Many people feel that this period between parenthood and retirement is one that should be grasped with both hands. It offers the freedom and the financial wherewithal to travel or pursue other interests.

If this is you, it’s worth asking yourself the question: “If we were looking to buy a house today, would we choose our current home?” The chances are that you would not – so why stay? A mid-life move can be the beginning of a new lifestyle that is better suited to your current preferences.

A downsize can also be a cathartic exercise, as it’s a great opportunity to clear out the junk that has accumulated in the garage, cellar or those overstuffed storage cupboards over the years.

One of the major benefits of downsizing is that it usually frees up some cash as well. Add to this the fact that properties out of school catchment areas can offer much better value for money, and things begin to stack up quite nicely.

With no specific pressure to move, you’d have time on your side to find just the right property. The best place to start is to ask us to pop round, as we’d be happy to advise on how a downsize could work for you – both financially and practically. Worth a call? You might be pleasantly surprised!