Downsizing your home

What is downsizing?

Downsizing your home is when you sell your current home and move into a smaller one. This may be your family home where the children have flown the nest. Downsizing can be a difficult and emotional decision leaving a home filled with life-long memories behind. In this blog, we look at the benefits and disadvantages to help you make that important decision.

Reasons why people chose to downsize their homes

There are a number of reasons to consider when making the decision to downsize. It is not uncommon for family and friends to relocate for life choices leaving you with long distances between you. Selling your home and relocating near to loved ones can have a positive impact on both sides.

Large family homes come with demands: maintenance, repairs, and cleaning to mention a few. Finances can often be a worry, where once a full-time wage would cover this but a weekly pension won’t. Selling up will free up equity to enjoy whilst saving money.

The Downsizing Dilemma

The stress of moving to a new house can put people off downsizing. Reasons such as financial strains, time constraints, and the fear of leaving familiarity with the unknown. They may also be health considerations and concerns the stress will exacerbate their existing health conditions.

Also, sought after smaller residential properties such as bungalows are surprisingly hard to come by with developers choosing to build bigger homes and flat complexes instead.

It is however useful to know that the number of sheltered accommodation and retirement village developments are on the rise in residential areas. Be assured you would still have your independence but with added bonus of extra security and the possibility of new friends and company.

With all this in mind, if you are still unsure, or you have made your mind up, our dedicated residential conveyancing team are at hand to help and reassure you. Our team has collectively over 60 years of experience together with membership of The Law Society’s Conveyancing Quality Scheme. Keelys Solicitors proudly offer guaranteed fixed fees and no hidden extras.

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