For­get down­siz­ing – now ‘my-siz­ing’ is a new trend

Buckinghamshire Advertiser - - BUCKS PROPERTY -

TRA­DI­TIONAL ‘down­siz­ers’ are be­ing eclipsed by a new trend in ‘my-siz­ers’; those mov­ing to a house or apart­ment of sim­i­lar value driven by a change in lo­ca­tion, land, size or style of home.

Down­siz­ing is tra­di­tion­ally de­fined by mov­ing into a smaller and cheaper prop­erty, of­ten mo­ti­vated by re­duc­ing liv­ing ex­penses, re­tir­ing or be­com­ing empty-nesters. But right­siz­ing, or my-siz­ing, is all about find­ing the house per­fect for your needs, whether larger or smaller.

Ac­cord­ing to the re­cent Strutt & Parker’s Hous­ing Fu­tures re­port, the main rea­sons for mov­ing home are fi­nances and life­style rea­sons.

“Our find­ings point to­wards a new trend in peo­ple wish­ing to right-size, or what we re­fer to as ‘my-siz­ing’,” said Stephanie McMa­hon, head of re­search at Strutt & Parker.

“My-siz­ers are those who are mov­ing home so that they can bet­ter suit their evolv­ing needs, both in terms of space and fi­nances.

“This might not be the usual move to a smaller house with less land – it might be to ac­quire more land and a smaller house, or less land and big­ger house. Or it could be mov­ing to a sim­i­lar house in a more af­ford­able lo­ca­tion to re­lease some cap­i­tal or a sim­i­lar sized prop­erty which of­fers more con­ve­nience.”

Steven Spencer, part­ner at Strutt & Parker, Ger­rards Cross, com­mented: “In the Home Coun­ties we have no­ticed a rise in sell­ers in an ‘in­be­tween’ life stage, where some of the older chil­dren have left home, and per­haps there has been a job change.

“They are not ready to give up all the space, but are look­ing for a change in their life­style and a dif­fer­ent con­fig­u­ra­tion of ac­com­mo­da­tion with plenty of liv­ing space, and they no longer need all the rooms or in­deed the gar­den.

“This was par­tic­u­larly ev­i­dent from our re­cent launch week­end at Lyn­bury Cres­cent in South Park Cres­cent, which is a de­vel­op­ment of eight lux­ury apart­ments of around 2,000 sq/ft (sim­i­lar size to many fam­ily homes).

Lo­cated in a qui­eter part of Ger­rards Cross within a short stroll of the shops and sta­tion, these size­able apart­ments of­fer in­cred­i­bly spa­cious ac­com­mo­da­tion with far-reach­ing tree top views over the Mis­bourne Val­ley, which is cer­tainly a rar­ity for such a con­ve­nient spot, and is a sight to be seen.

Stephanie McMa­hon added:“We re­fer to cur­rent my-siz­ing phe­nom­e­non as the 4S’s: shrink­ing to share, save and spend.

“As well as life stages, vari­a­tions to Gov­ern­ment pol­icy and prop­erty taxes can also have an im­pact – such as stamp duty changes.”

LYN­BURY CRES­CENT: Ap­peal­ing to buy­ers look­ing for a change in life­style and dif­fer­ently con­fig­ured but not nec­es­sar­ily less space, this de­vel­op­ment of eight lux­ury apart­ments in Ger­rards Cross has proved pop­u­lar with ‘my-siz­ers’.

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