There was a time when downsizing used to only mean one thing – a smaller property in later life.
However, there are now many reasons why cash-savvy house hunters are opting for a more modestly sized home, and at any age.
This could range simply from the fact that people are looking for a smaller, more manageable property, to those who are looking to downsize in their earlier years to help with household bills and raise windfall money.
Linden Homes Midlands can tick all the boxes for people looking for a smaller home in a fabulous location, with a number of suitable developments across the region.
Moving to a smaller property to support retirement plans is another growing reason for the continuing trend.
Recent research from Retirement Move suggests the perfect age to start thinking about moving is 64 – with half of over 60s admitting they struggle to maintain their property, and a third find it hard to keep on top of their garden.
Linden Homes Midlands sales director Clare Phillips said: “A brand new home can of course be the solution to these issues, and more and more new homes customers are recognising the benefits of moving to somewhere smaller.
“Coupled with the fact that existing homeowners are also eligible to use the Help To Buy scheme - which is not just limited to first time buyers - many downsizers or last time buyers may not realise the huge savings that can be made.”
The Last Time Buyers market is very much a thriving one. Figures from Legal & General reveal common reasons for homeowners to consider downsizing are:
- Current property has become unsuitable because of stairs or a large garden (45%)
- Current property becoming too large for their needs (33%).
- Almost a third of older homeowners have considered downsizing in the last five years, fewer than one in ten (7%) actually did move.
- A majority (58%) put it off until after 70, a quarter until 80 or older.
Top 10 tips for downsizing:
- Less financial burdens (including utility bills) and possibly less spending
- Not so much housework
- Far fewer repairs and maintenance to do in the home
- Less decorating
- The property feels more manageable and therefore more secure
- Feeling content knowing there’s no need for a future move
- A great cleansing exercise – a chance to clear out clutter
- A chance to invest in some new furniture!
- No need to spend so many hours gardening – but still having an outdoor space to enjoy.
- Increased opportunity to travel with the money saved.
For more details on where Linden Homes is building near you, visit the website.
-ENDS-
For further press information please contact Cetti Long at Media Matters on 01733 371363 or email cetti@mediamatters-pr.co.uk
