There are lots of reasons why downsizing can make sense and be a good option for you. Whether you are retiring and looking into moving somewhere that is better equipped for the future like these Gloucester park homes www.parkhomelife.com/our-parks/orchard-park-homes-gloucester-gloucestershire or you are wanting to release equity and have some extra funding for your retirement, here are some of the things to think about to make sure that you make the right decision for you and that you find the right property for your needs…
What is in the Local Area? Be aware of what amenities and services are available in the area that you are moving to. If you are moving away to a new area, it pays to do your research, and work out whether the area is suited to you and your lifestyle. Visiting the area at different times of the day and doing research online helps you to get a good idea of what to expect.
How Much Space Do You Need in Your Home? This is important as although downsizing can save you money, you also need to think about how much space you practically need. For example, if you enjoy gardening, you will still want to have a property that has a garden, or do you have a large family that will need space when they visit?
Are there costs that come with Downsizing? Bear in mind that when you are downsizing for financial reasons, there are also costs involved with moving, so you need to ensure that downsizing is worth it from this perspective. Remember to factor in things like solicitors’ fees, surveys and of course the cost of hiring a removals company to get all of your possessions to the new property. You may also need to pay for storage to store items if you no longer have space for them.
What are the Plans that you Have Long Term? It is a good idea to consider what your long-term plans and goals are, as this can help you make the right decision both practically and financially. It is a good idea to speak with an independent financial advisor if you are considering downsizing, as you can also discuss plans that you have for the future with them, and they may be able to suggest options that you hadn’t thought of previously.