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Downsizing your property; the advantages and disadvantages

Retreat to a smaller home or surround yourself by the comfort of the family fort?

Downsizing a property is a question that occurs to many of us, especially when the children have flown the nest and you are left with lots of empty space. It can be an emotional time, going from a full house to just memories, and you are most likely wondering what to do next. Retreat to a smaller home or surround yourself by the comfort of the family fort? Both options have their advantages and disadvantages, take a look at the list below.

Disadvantages;

- The family home holds a sense of security and is always the ‘safe place’ should times get difficult or things go wrong. Your children may also want to come and visit for a long weekend, or maybe you have babysitting duties to attend to, for that reason the extra space is always handy.

- Living in the family home for many years, you have most likely built up a community of neighbours and friends and are familiar with the local amenities. Packing up and starting a fresh will mean that you will have to undergo this process again, unless of course you downsize in your local area.

- Downsizing… it says what it does on the tin, expect to lose space and maybe a few possessions! Should you decide to move to a smaller property, then it may be a good idea to have a good clear out of some of your items- you could hold a jumble sale, sell things online or simply donate to charity.

Advantages;

- Empty space in large homes can easily become neglected and difficult to maintain. Smaller homes on the other hand tend be cosier and easily manageable.

- Downsizing can have a huge impact on you financially, you won’t have to spend as much on utility bills and possibly your mortgage. That additional revenue can make a big difference to your personal comfort and could also help towards supporting your children and their future homes.

- You may decide to downsize for practical reasons, such as getting up and down the stairs. In that case, a bungalow would be perfect and is ideal for retirement.

Are you considering downsizing? The Belvoir difference is our personal approach. From the first cuppa we share as we discuss your needs, to the moment you get the keys to your new property, we’re here to make everything easier. Get in touch with your local Belvoir office today!
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