What is downsizing?
It’s generally considered to be moving from a larger property to a smaller
Why would I downsize?
- Because you need less space.
- Because it can reduce your bills such as council tax and heating costs.
- Because your family have left home
- Because you need to econmise
- because you want to have cash from the sale of your current home.
- because you want to reduce your mortgage
So how can I downsize?
You can look for a smaller property in your current area. You could look for
a similar property in a cheaper area.
What do I need to consider?
You need to think about how much furniture you have that you want to keep.
If you want a smaller house but want to keep all your current furniture then
clearly this won’t work!
Consider moving costs.
Consider bills at new house – check council tax banding to make sure it’s less
than you’re currently paying.
Would you be happy away from your friends – important to consider if you are
looking at moving area.