As life changes, so does your housing needs. You might be living in the family home alone, or with a spouse, and don’t need as much space as you once did, or you may simply want less maintenance and cleaning. Who doesn’t want that?
In real estate terms, downsizing means reducing the size of your home and moving to something smaller, or upgrading to something smaller and a little more luxurious.
Downsizing is more than moving to a new house. You need time to plan and research, declutter and cull your possessions. You need to consider where your family and friends are, what lifestyle you want to enjoy and then find the perfect place to fit your plan. If you are no longer tied to a job, your options for where you live and how you live change considerably.
It may be important for you to have less maintenance, to move somewhere new, have a simpler life, or move closer to family. Your dream may be to go travelling or buy a caravan or motorhome and explore this great country. For others, it could be purely a financial decision. You can free up cash by buying something smaller and then investing it in another property.
Regardless of your motivation for downsizing, your opportunities are endless. Ensure you do your research, and plan the steps. It may be overwhelming at first, but once you set the wheels in motion, it can be an exciting time ahead.