People downsize for many reasons. They retire, get divorced, the children leave home, they want to save money or they just get tired of maintaining a big space. No matter what has spurred your decision, here is how to make the transition a smooth one. Here is how to choose the right property for you and make it a liberating experience.
First and foremost, looking at your finances should be your priority before searching for that smaller property. It is also wise to get some good solid financial advice on how to make your money work best for you. Speak to a good Financial Advisor, who will be able to look advise you on how much too spend and how much to invest. You may indeed decide to buy two properties and use one as an income or invest all of your monies in that chocolate box cottage! There are lots of options!
Then decide what is a priority for you in a new home. It is space for family and friends to come and stay? Is it a ‘lock up property’ so you can travel and not be tied down? Or do you love gardening, have pets and want more outside space? Start viewing to get a proper feel of exactly what will tick the boxes. Be open minded and don’t discount the smaller house, bungalows or apartments which can offer a great space on one level and are easy to maintain.
Location, Location, Location. Even if you do not have children (or they have flown the nest) location is still key because your house in an asset. So check out the school district, council tax bands, proximity to transportation, major highways, shopping and dining out.
Once you have decided on the type of property, de-clutter and get your house on the market. Always remember, you don’t have to sell your house, until you have secured a purchase. Any good Estate Agent will protect you and your move to make sure that you can tie in both your sale and purchase and make your downsizing an exciting journey.