Key Considerations if you’re thinking of Downsizing

Moving to a smaller home is not a decision most people take lightly. It can be a hugely emotional decision, even if you think it’s the right one.

If you’re now or soon to be an empty nester, downsizing to a smaller home or apartment can make life easier for you as you grow older in both financial and practical terms. It’s a decision that can take considerable time to make so it is wise to start thinking about it sooner rather than later.

We have helped hundreds of people to downsize during our years in business and we understand what it can mean. Our experience is that there are 3 areas that people in particular need to consider.

Time

Choosing the right timescale is important when you’re downsizing. Having your last Christmas in a family home can be a way of coming to terms with a move and giving yourself time to plan it effectively. Pick a date in the future that works for everyone, and work towards it, a step at a time.

Enthusiasm

It’s much easier to look forward to moving when you know where you would like to live. Whilst it’s tempting to sell first before you view other houses, having your next home in your mind can help keep you motivated and positive about your move and the benefits it will have for you.

Finances

Plan out the financial implications of your move in detail, including the consequences of achieving a sale at less than your expected asking price. Most downsize moves release equity, and knowing how you plan to use surplus funds can help to give you a goal to reach for. Maybe now is the time for that long-awaited round-the-world trip, or to buy a new car or just to have a little extra aside as you grow older.

Planning to downsize: your checklist before you sell

Having a checklist of what you need to do before you put your home on the market can help you feel in control of your move. Here’s a handy list we’ve put together to help you.

• Plan your finances to see the price you need/want from your sale
• Research your local estate agents and request to meet 3 agents to value your home
• Draw up a wish-list and a must-have list for your next home
• Start looking on line at what is available to buy that would suit both your budget and your other must-have criteria
• Make appointments to physically view some of these potential properties so that you can get a sense of what it would be like to live in a smaller property
• To sell your home, choose the estate agent you feel you can work with the best
• Agree the date that you will put your home on the market
• Your chosen estate agent will guide you through the entire process
• Contact your solicitor so that they can have all the necessary legal documents ready once a sale has been agreed

It’s an emotional decision to downsize, and usually not an easy one to make. But the benefits of moving such as - lower costs and less maintenance, being closer to family and loved ones, while still being surrounded by friends in a location you love along with the knowledge of a secure financial future - can all make moving to a smaller home worth it.

It takes careful guidance and assistance to help someone through this process. The sale of the house itself is only the tip of the iceberg; the real work comes in the separation process, and a really good agent will not only help make this as smooth a transition as possible, they will also help in the more practical aspects of the move too.

A proactive and genuinely caring agent will be worth their weight in gold. They will not only negotiate on your behalf with intending buyers but should have excellent contacts to help source someone to help with the home organisation, de-cluttering, storage, packing and moving. In many cases, they may also be able to help find your new home too.

Why choose us?

At Quillsen, we take great pride in our people. They are experienced and knowledgeable in both property and their local area. We aim to do everything for you - you’ll have the same agent the whole way through the process from listing to final sale so you can rest in the knowledge your home is in safe hands. Providing an exceptional customer experience is part of our promise and we feel the feedback we receive from previous clients shows how we deliver on this promise. You can read their testimonials here.

So if you’re thinking of downsizing and need someone to guide you through the process, simply get in touch with your local agent today for a FREE valuation and to chat about how we can work together.

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