Downsizing is something that happens frequently in the property industry and you can almost guarantee that at some point in life everyone will consider it. People downsize for various reasons, it used to be that downsizing was just for people who have extra space now their children have grown up and left home. But, these days more and more people are choosing to downsize due to a wide variety of situations.
If you are intrigued by downsizing and are wanting to find out some more information about what it really is and why you should be considering it, keep reading today. Moovingo has looked into downsizing your home and why it is a great idea.
What is downsizing?
Downsizing pretty much is what it says on the tin. In simple terms, it is when you sell your property and purchase one that is smaller than what you used to have. It is the opposite of upsizing, which is often a huge part of peoples home-buying journey, and it can be incredibly beneficial for numerous reasons.
Why should I downsize?
Aside from the fact that you don’t require the amount of space you used to in your home, there are various reasons why you should downsize. Here are a few for you to consider;
Decrease your monthly outgoings
Lots of people downsize for financial reasons. Often, if you have been paying a mortgage for a long time on a huge property then you can now afford to purchase a smaller home outright, meaning, you won’t have to pay a mortgage at all anymore.
Moving to a smaller property is also much cheaper to run. You will find that your utility bills such as water, electricity and gas will all be much less in your new home. Many people are surprised just how much money they save monthly when they downsize.
Move to a more desirable location
It is often the case that a property in a desirable location costs a lot more than an equivalent property costs in a less desirable location. One of the benefits of downsizing is that you may finally be able to move into a location you have had your eye on for a while now. Going for a smaller property will mean that this area is finally within your price range and you can live somewhere you have always wanted to without having to pay the huge price tag that larger homes have.
Invest in a property abroad
Many people dream of having a second home in a sunny part of the world and downsizing may mean that this dream can finally become a reality. By downsizing your main property you will more than likely have some spare money that you can invest in another property abroad. With the price of holidays and hotels constantly increasing, you can finally have a place of your own in your favourite part of the world that you can visit as much as you’d like.
Give yourself more free time
The upkeep on a big home can be quite a lot to handle on your own. Simply downsizing to a smaller property means that you will have fewer rooms and smaller spaces to keep on top of. You can almost guarantee that this will cut down on the time you currently spend cleaning and maintaining your home. Finally, you can have some ‘you’ time and there will be more hours in the day for you to do much more enjoyable activities. You will benefit in general from a healthier, happier mindset and lifestyle.
Downsizing with Moovingo Estate Agent
All in all, there are so many reasons why downsizing can be beneficial and, no matter what your current circumstances are it may be worth considering. If you think that downsizing is the right move for you and you would like to sell your own home, visit the Moovingo website today and book a free property valuation. We can provide you with any information you require about how to sell your house online and our experienced team can answer any questions that you may have. We do everything you expect from an estate agent from professional photos, listing on all the right property portals, hosting viewings, managing negotiations right the way through to close. The best part, we charge a fair fixed fee meaning you will have more to spend on your new home.