Published: 21st February, 2020
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Finding the perfect time to downsize isn’t the easiest of decisions. There is much to consider, but if you have recently retired and are planning your new lifestyle you might think that looking after a large family home when the children have flown the nest isn’t the best option and now's the time to plan!
The important thing to remember is that downsizing is not about moving backwards but moving forwards to improve the quality and enjoyment of your life.
Thinking about and planning how you would like to spend your newfound time, whether on your hobbies, grandchildren, travel etc., is an important part of that decision, together with the current state of the property market. This will probably be the last time you move home and so timing is key to hopefully enable you to move with a surfeit of cash in your pocket.
Today is a good time to get into the market. Post Brexit has seen more confidence in the housing market and Miles Shipside of Right Move says:
“It’s the first time for over a year that we have seen any sign of a return of seller confidence, albeit lagging behind the surge in numbers of early-bird buyers. Owners coming to market this spring face the bestselling prospects for several years, with good demand for the right properties at the right prices. However, sellers should be careful not to get carried away with their pricing, as this is still a price-sensitive market with stretched buyer affordability. Those who over-price risk missing out on the window of increased activity that could run at least until we approach the next Brexit deadline at the end of the year. Now could be an excellent time to get on the market and sell, seizing the opportunity of achieving a quick sale at a decent price.”
So consider your lifestyle goals before you downsize
Perhaps a leisure lifestyle. There are more and more park home estates offering more than just somewhere to live. Some have swimming pools, bowling greens, fishing or a community centre. A handful of parks offer both residential areas on their holiday parks and generally offer the holiday facilities to permanent residents such as, entertainment, spa facilities, tennis, golf, restaurants and bars etc. However, when purchasing on what we call a multi licensed park, do ensure from the outset that you are being offered a park home or plot which has planning and is licensed for residential use.
So consider your lifestyle goals before you downsize
Grandchildren.
All parks, whether family parks or not, are happy to see grandchildren come to visit and spend holiday time with Gran and Grandad.
If you choose to buy close to the coast, the attractions for children are obvious, but long walks in the countryside are good for both young and old!
So consider your lifestyle goals before you downsize
Travel.
You may wish to spend some time travelling around the country and purchase a motorhome or a caravan. There are a handful of residential parks that offer caravan storage and you will shortly be able to search for these on our website. Wherever you store your motor home, you can leave your park home in a safe, secure environment with the many residential parks offering a secure gated environment.
Tip to simplify downsizing
It’s amazing how much we ‘store’ within our lifetime, things that we are just unwilling to let go of! The best tips we can give you is to work room by room having two piles, one to ‘keep’ and one to ‘let go’. A ‘maybe’ pile will just drag out the process. However, if you really need that third pile, make it one of what you will 'sell or donate'!
Be sure to let your family know that you are downsizing and give them the option of relieving you of some of your possessions. Things that have just the same amount of memories for them as well as you and then when next visiting them you will have the pleasure of reminiscing over these items once again.
