Downsizing can be a tough decision to make especially if you’ve spent your life working to pay off your mortgage or have lots of wonderful memories in your current home. As we get older and your children have flown the nest, you may find you no longer have a need for the size of your current home. Downsizing can be a positive experience and bring with it a lot of great benefits. To help you decide on whether or not to downsize, we’ve put together a blog on the benefits of downsizing and choosing a retirement bungalow or one-storey home.
What is downsizing?
Downsizing is the process of moving out of your current home into a smaller one. There are many reasons why someone may choose to downsize, for example, to release equity, release the burden of maintaining your house and garden or move to a different area.
What are the benefits of downsizing to a one-storey retirement home or apartment?
Downsizing in general can provide many different benefits, including:
- Release equity - Choosing to move into a smaller, cheaper home can help release equity from your current home. This can provide more financial freedom to spend on enjoying retirement and doing the things you love.
- Free up your time - Maintaining your family home can take a lot of time, especially if you have lots of rooms to clean and a garden to maintain. Choosing to downsize into a smaller property can free up some extra spare time to enjoy your hobbies and interests.
- Lower running costs - Not only can downsizing help release equity but moving into a smaller home will often mean you will be able to enjoy cheaper bills and running costs, giving you more money to spend on things you love and enjoy.
- Opportunity to declutter - Over time it can be easy to accumulate a lot of stuff you just don’t need, downsizing gives you that push to get rid of the things you no longer need or want as you’ll have less space to store them.
However, there are some extra benefits you will be able to enjoy when choosing to move into a one-storey retirement property or apartment, for example:
- Accessability - One of the best things about single-storey living is that all your rooms are on the same level, not only is this great for you but can also be perfect if you’re looking after grandchildren as you won’t have to worry about them going upstairs and playing out of sight.
- Easier to maintain - With only one storey, that’s one or even two less floors to maintain and clean than in your previous home. From cleaning windows or guttering to daily chores, everything being all on one level makes life a lot easier. You’ll have no need for extra-tall ladders to reach the upper levels or the strength to lug the hoover and piles of washing upstairs.
- Cheaper to run - With one-storey apartments or homes being one floor they are often cheaper and easier to heat as the heat can’t escape to the upper floors so it is often more evenly distributed throughout the one level.
- A forever home - Moving into a single-storey home now means that you may never have to downsize or move later in life. Living on one floor can work for you in all stages or circumstances in life which can give you peace of mine that whatever your future holds you won’t have to worry about the stress of moving home.
Should I choose to downsize?
Choosing whether to downsize or not is a personal choice. If some of the reasons listed above appeal to you then downsizing might just be the perfect option for you. If you’d like to find out more if downsizing is the right choice for you, read our blog on whether you should choose to downsize or not.
Moving to an Inspired retirement village
Here at Inspired Villages, we have many different types of properties in retirement villages all over the UK, from Exeter to Warwick. If you’re looking to move and considering a retirement village, we can help you find the perfect property whether you choose to downsize or not.
One of the best things about moving to one of our communities is that it is more than just a village, there are several other benefits including spas, pools, gyms, restaurants, and also a great sense of community.
If you’d like to find out more about us and the benefits and attractions of renting or buying a home in an Inspired village, get in touch today or read our blog on the benefits of living in a retirement village.
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