Downsizing or Rightsizing

Why do governments want to tell people how to live their lives. Why should older homeowners be encouraged to sell up or move out to smaller properties.
There are better reasons for downsizing than pressure from others and you should consider the pros and cons before embarking on such an exercise.
Do not rush into change as it may turnout to be ‘wrongsizing’.

Downsizing and Rightsizing Considerations

  • Understand your own motivation for making a change. Smaller properties may be easier to maintain and heat. They may be more convenient for services and local facilities but the opposite can also be true.
  • Ensure anyone you live with shares the dream of making a change.
  • Think ahead, you probably want the change to sustain you for a lengthy period. It is no fun downsizing again every few years unless you are just getting an interim home.
  • Consider your health, driving ability and general fitness for climbing stairs or accessing local services.

Downsizing and Rightsizing Downsides

  • Be extra careful if you are changing your style of living as well as the space you occupy. Moving to the country or seaside rather than locally can be a bigger upheaval.
  • Property prices have fallen for the last 4 years and you are likely to end up with a lower margin of comfort between the selling and buying price.
  • Avoid being too remote so you become lonely and isolated.
  • Check out the costs of the move and the extras like transport.
  • Be prepared to downsize your possessions to match your new property.

Rightsizing is the Way To Go

  • Rightsizing applies to you! It is the personal way of assessing what you want to achieve.
  • Beware of ‘wrongsizing’ or sizing for the wrong reasons.
  • It is not only the number of bedrooms that is an issue. The garden or lack of it, the plumbing and cooking facilities even the vehicle access can be issues.
  • You want to rightsize to get a better home-life balance.

Read more about Downsizing to Rent rather than ownership
Read ‘The Upside of Downsizing’ from Amazon

Book Cover

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