There comes a time in many people’s lives when you start to weigh up how big your home really needs to be.
There’s empty rooms left, right and centre, the garden suddenly seems enormous and your knees creak every time you climb those stairs. You really just don’t have the same needs as you used to.
It might be time to downsize. But how can you be sure to choose the best property for you?
If you’re a senior, stick with single-level.
Remember those knees? It’s only going to get harder to climb stairs (ie noisier in the knee region) as you get older. Look for properties at are all at ground level, or if there is a stair case, then look for properties that have the main bedroom downstairs with an ensuite and save the upstairs for visitors, or the grandkids when they come to stay.
Be sure it’s small enough to maintain, but big enough to entertain
Dinners with friends, family gathering and social occasions are just as important to downsizers as they are to anyone else in the property market, the difference is they don’t want a big yard to maintain. Look for a two-three bedroom property on a small or more compact block.
When it comes to garages, look for large
A garage provides additional storage space, so if you don’t need it for the second car, you can put anything that doesn’t quite fit in the smaller house in there.
Just because you are downsizing, doesn’t mean you’re prepared (or need) to part with a large number of possessions. If you’re smart with your property selection, you’ll find a home that will accommodate most of your former house’s contents. Look for something that is substantially big enough to maintain main pieces of furniture
A familiar location
Unless you’re looking for a sea change or lifestyle switch, it might be a good idea to stay close to your current location. Not only are you familiar with everything – friends, communities, facilities – from a financial point of view it makes sense. It will be a pretty straight-forward transaction, meaning you’re more than likely going to end up with some money in your pocket.