Empty nesters, retirees or homeowners who just want something more manageable. There are many reasons for wanting to move to a smaller property, some financial, some practical.
While it may seem a little daunting at first, with some planning and careful consideration, it can be a really positive experience.
Mark Bentley, president, NAEA Propertymark said, โMore and more homeowners are now choosing to โdown-sizeโ which means the concept of the โforever homeโ is becoming a thing of the past. However, the most important thing to consider is that you โright-sizeโ and find a property which suits your lifestyle.
“Moving to a smaller property also releases equity trapped in the property, gives you a home which is easier to manage, and depending on the location, it could mean better access to local amenities, which will improve quality of life. Those who do โright-sizeโ also free up larger properties in prime locations for growing families looking to upsize.
“However, the process of moving home can be lengthy and stressful. If youโre moving to a smaller home, you also have the added task of needing to sort through all your belongings. Our top tips will help those looking to โright-sizeโ make the process as stress free and simple as possible.โ
Be practical and ruthless
Itโs unlikely that youโll be able to take all your belongings with you if youโre moving from a four-bedroom house to a two-bedroom flat. So, youโre going to need a big clear-out, and youโll have to be practical and ruthless. Approach it as though youโre having a spring clean, or a โhouse detoxโ. Your loft, garage and kitchen are all rooms that tend to accumulate clutter you can live without, so theyโre a good place to start. But donโt feel as though you must part with beloved possessions; for sentimental items you just canโt make up your mind about, offer them to a family member or put them into storage. If you canโt live without it, keep it.
Get organised
A well planned move can make the process as smooth as possible, so get organised. Start by making a list of all the rooms you need to clear out, the other tasks you need to complete, and the timescale in which you need to complete them by. Knowing what you have to do and the time you have to do it will make the move a lot less stressful.
Establish how much room you have
Donโt start throwing furniture out until youโve established how much space you have in your new home. You donโt want to under-estimate it and have to buy your items again, and equally, if you over-estimate the space, youโll find it difficult to fit everything in on moving day. Draw up a to-scale floorplan so you can see how your existing stuff will fit into each room, and then measure your bigger items of furniture to establish how and if theyโll fit.
Think about the additional costs
Although downsizing will mean lower energy bills, reduced maintenance costs and possibly a smaller council tax bill, there are various one-off moving costs which can add up. Itโs important to factor in any estate agency fees, and you will pay stamp duty on any purchase in excess of ยฃ125,000. Other expenses include solicitor and conveyancing fees, a survey home buyer’s report and removals.
Getting rid of your unwanted items
Selling items that you canโt take with you can help generate some extra cash which you could use towards the move. Online sites such as eBay, Shpock, Gumtree and Facebook Marketplace are simple to use and can quickly help you get rid of any unwanted items, and most of the time potential buyers will collect the items from you. You can also consider car boot sales to get rid of items that aren’t too valuable, or even local furniture auctions. If you donโt need to sell them, contact a local charity to see if they can sell or gift them to people that may appreciate them.
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