When it comes to working your way up the property ladder, that doesn’t always mean moving to a bigger property. It can also mean moving into somewhere smaller, whether that’s due to a lifestyle change or just because you fancy something a bit lower maintenance.
Either way, moving home is an investment in your future and if you’ve decided to downsize your property, s1homes is here to help guide your way through the process.
Deciding to downsize
One of the main reasons for downsizing comes from grown-up children leaving the nest and mum and dad considering their property options. Maybe that’s an idyllic cottage by the coast, bungalow in the burbs close to the grandchildren or giving up the garden for a modern apartment with city views from the balcony. Whatever style of property you choose, there are key decision makers, like the number of bedrooms. You may want to have at least one spare room for the occasional guest, but any more than that is probably too much and becomes just an extra room for storage or gathering clutter – plus it’s another room to clean! Another decision maker comes down to practicality, and for many this can be how easily accessible your home is. Steep staircases and large gardens needing a lot of maintenance are fine for right now, but what about in years to come? Practical properties don’t always need to be on the ground floor, it could also mean a trendy apartment with lift access. So, remember you don’t need to compromise on style over accessibility.
Another huge reason for downsizing that can affect people of any age is due to financial reasons. Yes, a smaller property doesn’t necessarily mean less expensive, but reducing the number of bedrooms you have, giving up your outdoor space, driveway and garage could lead you to a more affordable home. Remember that downsizing to save money can be a temporary measure, especially for those renting, so don’t let this dishearten your property dreams – it could simply mean a slight diversion.
Once you’ve decided to downsize, there are a few questions to ask yourself when considering which properties to look at.
How small should I go?
The size of property you decide to move to will depend on how much space you really need. Both in terms of people living in the property and also the number of belongings you have to store too. If it’s just you on your own, then a one-bedroom could be perfect as long as it comes with smart storage solutions. A studio apartment is probably the most compact living space you can get, without house or flat sharing. If you’re a social butterfly and spend little time at home, then a studio could be perfect, but maybe not one for those who work from home or intend to spend a lot of time there.
If you’re moving with children, could they share a room for a few years until you either move somewhere bigger or they grow up and move out?
When buying a smaller property, it is worth noting the competition you can face. Most smaller properties like apartments are in high demand for first time buyers so remember this when it comes to putting an offer in. They might be in a slightly better haggling position than you.
What will I do with all my stuff?
One consideration that may cause the most stress when looking to downsize property is thinking of where all of your belongings will go. But worry not. There are so many smart storage solutions that you can consider that should ease this worry. The first thing you should do is write a list of all your belongings that are essential to you and also a list of things you can get rid of, donate or even store at a separate location. Could you ask favours of friends and family to store your belongings in their lofts or garages for a short time? Having a good clear out of your belongings will give you a better idea of what you are taking with you, what can be stored and what you don’t really need.
When it comes to getting rid of any unwanted items there are lots of places you can use to help find your items a new home, from Gumtree, eBay and Facebook Marketplace. Don’t forget your local charity shop too.
Where should I move?
If you’re downsizing due to financial reasons, then you may need to focus on areas that are more affordable too. But if you’re not set on any specific location, then there are other considerations to make like, is it close to shops, bars, restaurants so that you aren’t missing out on your social life? What are the transport links like? Can you visit friends and family easily enough without a car? Are there parks and nice nature walks nearby? It’s worth considering what is nearby your new property and always take the opportunity to explore the wider area when you’re arranging property viewings.
Now comes the exciting part: finding your next home. Visit s1homes.com today to search the best properties to buy and rent in Scotland.