The secret to downsizing effectively

If you’ve lived happily in your current home for many years, preparing for a move can be challenging in a number of different ways. First and foremost, you’ll be leaving behind the house in which you’ve created countless memories. Secondly, you could be out of touch with the market if you’ve been out of the moving loop for a while.

Thirdly, it can be difficult to identify what new buyers today might be looking for. After all, tastes, trends and styles move on over time and the expectations of buyers now are quite different from those just a decade ago.

It can be incredibly difficult to remain objective about the house you’ve grown to love and have called a home for years. But putting yourself in the shoes of potential buyers is critical if you want to get the best price for your property and complete a sale in a reasonable length of time. That’s why gaining advice on home staging and open house events can be particularly important when deciding to sell.

So, what are my top tips for downsizing – or “rightsizing” as I like to call it in South Ribble ?

Make the decision
The first important step to rightsizing is simply identifying that it’s the best move for you and your family. More often than not, rightsizing is associated with homeowners at a stage in life when their children have flown the nest, their property is of high value and their requirements are changing.

Rightsizing can enable you to explore new opportunities in life. Perhaps you are wanting to free up some cash to be able to travel the world in retirement. Or maybe you are looking to invest in a holiday home abroad and need a smaller UK residence that can be locked up and left for weeks at a time.

For many, it is all about moving to a lower-maintenance home. Having helped many people to sell their family home over the years I can tell you that bigger isn’t always better. Often, it’s simply about changing priorities. I understand what it is like to realise that half of the rooms in your dream home are no longer being used and that the garden is becoming a chore to maintain. If you only need two bedrooms but want more entertaining space, why wouldn’t you look to make the move to something that meets your evolving needs?

Understand the financials
Requesting a valuation is essential if you want to gain a clearer picture of how much your home is worth. It also gives you a starting point from which to calculate how much equity you might be able to free up – taking into account costs such as legal fees, estate agency fees and removals. We work with lots of the partners you need when moving home in the Lancashire area and so can help you look at he fees involved. With these figures estimated, you can begin to map out your financial future.

Avoid common downsizing mistakes
Even though I have helped many people move home over the years in the South Ribble area, when it came to rightsizing I fell into some of the common mindsets.

Take furniture, for instance. When I first listed my family home for sale in Longton and started searching the market for a property that fit with my future plans, I was always visualising my existing furniture in a new space. But I soon realised that this just wasn’t the way to approach my move.

Once I’d begun to appreciate properties for the space they provided and began to think about how I could furnish them as blank canvases, the process became so much easier. While there are inevitably pieces of furniture you’ll want to keep (for me it was a table!), most sofas, chairs, drawers and dressers are easily replaced.

A good tip here is to set your budget on the basis that you will be selling off some old items and shopping for some new furniture.

Be open to viewing a variety of properties
I can admit myself that rightsizers are a fussy bunch. Many of us have lived in several properties over the years and built a lifestyle around a certain layout or style. However, I would always recommend that those looking to rightsize should start viewing properties early and take the time to see plenty of different home layouts as part of the research.

That’s because the experience of moving up the ladder to bigger and bigger homes is very different from reducing in overall size. Part of the learning curve when rightsizing is understanding how your requirements have changed and how they may continue to change over the coming years.

At MovingWorks, we put a lot of time and resource into our Property Finder service. And it’s particularly important for rightsizers because our advice and guidance is often needed to help people look at their next move through fresh eyes. More often than not, it’s the questions we ask that enable people to get a better grasp of what they are looking for:

• How many bedrooms do you really need?
• How regularly do you host in your living spaces and for how many guests?
• Will you expect to have grandchildren to stay overnight in the future?
• Are you expecting to spend more time at home and in your garden over the coming years or less time in the country?

All of these questions are important considerations when planning your onward purchase. If you haven’t thought seriously about your next home or lifestyle then now’s the time. Identifying the size, location and budget for your next home will affect everything from your savings pot to the scale of the decluttering work you’ll need to undertake before you move.

Get your house in order
Speaking of decluttering: I know that emptying out the loft, clearing the garage and taking half your wardrobe to the charity shop can seem daunting. But you might be surprised to hear that many people actually find it to be a therapeutic experience.

Getting the chance to leaf through my own children’s old school books and report cards one more time was really heart-warming. And then I simply gave them the opportunity to claim the items they wanted to keep as mementos.

At the end of this process, most rightsizers feel that they’ve cleared not just their houses but also their minds. The decluttering phase helps to create physical space and give movers a fresh perspective – which is just what’s needed as they begin to plan out those next steps.

Seek expert help
If you are considering downsizing, I always advise that it is important to meet with an estate agent and discuss your plans early on in the process. Remember, that property experts are there to do more than add your property to RightMove.

A vital part of the service we offer when listing  properties at MovingWorks is understanding your priorities and, ultimately, helping you to map out your next steps. We also offer full guidance on how to appeal to the buyers in the market right accross Lancashire

Ready to make a move in 2023? Get in touch with us today 01772615550 or please email me georgina@movingworks.co.uk if you would simply like more rightsizing advice