We prefer to call it ‘right sizing’ because it’s all about finding the right size home for you in whichever stage of life you’re in.
Some people are excited about the idea of moving to a new, more manageable home and ideally freeing up some equity.
Others are anxious, it’s a significant change, and many of the people we help sell and buy haven’t moved home in decades.
We understand that in many cases, you are not just selling bricks and mortar but letting go of treasured memories and deep emotional bonds.
So, we never forget the emotional side of moving. And that’s why we can assure you you’ll always receive a patient, polite, and professional service should you decide to sell your home with us.
There are many reasons people want to move from their current property to one that is smaller in size. These include:
Children Now Adults - Probably the number one reason why people seek a smaller home. The children are grown up and have moved out, and the home now feels a little too big.
New Lease of Life - Downsizing is sometimes painted in a negative light. Still, we’ve experienced dozens of occasions where the sellers wanted to free up some cash to take once-in-a-lifetime holidays and enjoy hobbies in their golden years.
Living Luxuriously - Far from the misconception that downsizing is a step back on the property ladder, you can often get a lot more for your money if you need less space. Centrally located luxury apartments often cost significantly less than large family homes.
Death - Sadly, the death of a partner or spouse can lead to needing to move on and reduce outgoings and create a desire for change.
Changing where and the way you live is a big decision. There’s a lot to consider. Below, we share five of the most common things that people looking to right-size their living and financial requirements need to mull over.
We’ve spoken with many people looking to downsize who felt anxious and a degree of guilt. For some, it was a fear of change or perceived loss of status. For others, it was feeling guilty about selling the family home and leaving memories behind. The good news is that the memories come with you, but we always say to people you should only sell when you are at peace doing so.
Do you see yourself living by the coast and enjoying leisurely walks along a seafront? Or are you desperate to see more of your grandchildren? Do you want the security of a nice sum in the bank if you ever needed it Whatever your vision for your future is, any move you make now must help you to achieve those life goals.
Planning a move takes time, requires budgeting, and there is a lot to get sorted. Once you’ve decided to sell, you need to start chipping away at all the different jobs you need to get done.
If you are going to move, start making your life easier come moving day by decluttering as early as possible. Get your legal paperwork in order in advance and think about the effect a move will have on your finances.
Is now the right time to move?
Only you will know this for sure. It’s worth discussing your plans with friends and family and getting their opinion. We can give you a data-driven overview of the local property market, so you get a clear understanding of what’s happening.
What taxes do I need to pay when moving?
If the property you are selling is your primary home, no capital gains tax will apply. Depending on the property you are buying, you most probably would need to pay Stamp Duty. We would be happy to advise you on Stamp Duty thresholds, and we can introduce you to tax advisers if you wish.
Someone we know is looking for a bigger home, we’re looking for a smaller home. Is a swap a possibility?
Theoretically, yes, but in our years of experience, it never happens. This is due to circumstances, changing minds, and finances. The chances of the person buying your home having a property that ticks all your boxes are tiny.
We/ I would like a quick sale. Are these cash buying companies trustworthy?
While we wouldn’t criticise any of our colleagues in that sector of the home sale industry, we can say you’d get more for your property selling through an estate agent. The price you would be offered by one of these companies reflects your need for speed and is usually significantly less than you’d get on the open market with professional marketing and area expertise.
How will you ensure our sale progresses from an offer to a completed deal?
It’s an excellent question. A large percentage of sales fall through due to several reasons, but one of the biggest is poor sales progression and a lack of ongoing communication by the selling agent. We take a leaf out of everyone’s favourite sci-fi character, Dr Who, to ensure you and your buyer are continually updated with any news. We’ve adapted his arch-enemies’ mantra: ‘Exterminate, exterminate, exterminate!’ and put our own spin on it: ‘Communicate, communicate, communicate!’ When it comes to selling properties, our experience shows you can never over-communicate to keep everyone in the picture.
