Why could now be the best time to downsize?

- Tue 31 Jan 2023

As we settle into a new year and find ourselves longing over warmer months, many people begin to think about where they want to be spending their summer and of course many summers to come thereafter, now tends to be the time where people start putting their new-year moving plans into action.

This time of year also brings with it a spike in buyer demand, and this year is no exception, and with the increase of buyers the question of what buyers may be looking for in their next property. Many people look to downsize their homes to save on their monthly expenditure that comes with owning a bigger property, especially with the current economic crisis we find ourselves in, we will see more and more people finding the luxuries in a smaller property this year.

Whilst we have been living amongst a housing market where properties have not been vastly available, there is some light at the end of the tunnel as we head further into 2023. The year has started off with many more properties becoming available to the market with Rightmove releasing a statistic that January 5th 2023 saw the third busiest day on record of sellers requesting a valuation on their home –which suggest a flurry of home will be put up for sale soon!

As well as the economic crisis being a factor in home movers wanting to downsize, we also find that many people ponder on the thought of maintaining their garden for another year. As you look out into the garden and recall how much work it is to cut the lawn, trim the hedges and perhaps paint the fences, the appeal of less work appeals even more. You may have reached a time in life where maintaining such a large area can be too much work and therefor downsizing to a garden that can either maintain itself or doesn’t cover as much land may be the right decision for you.

This may be the same case if you own a home that once allowed enough room for the whole family and maybe now your children have flown the nest and left you with empty rooms. As much as you may want to hold on to the home that your family made all of their memories in whilst growing up you also may want to start thinking of your future and enjoy a home that is comfortable to manage as you grow older. If you’re hoping to sell, you may also be on the hunt for a new home. To land your dream home, it’s crucial to be able to make a serious offer. That means getting your property spruced up and ready for its time on the market. Don’t forget that many buyers now prioritise outdoor space to enjoy in the warmer months, so if your home has got it, flaunt it!

They say it can be the hardest move to make; to downsize, although the thought tends to be a lot worse than the reality. The idea being that choosing to move whilst you’re able to is certainly a lot better than being forced to do so in later years. You can find those elements that will make life easier in later years, be closer to the family or friends that you sometimes find the journey a little too much and perhaps spend that extra time and money you’ve freed up from less gardening and cheaper bills to fit in an extra round of golf, or another game of lawn bowls.

Bradleys Estate Agents have 30 offices covering Devon, Cornwall and Somerset where our local property experts will be more than happy to help you on your property journey. Contact your local office today and let’s get your property plans in action and your home market ready!