Good things... small packages

of us are trying to find an easier way of life – whether it’s moving to the country for a bit of peace and quiet, or being closer to loved ones.

But for many, downsizing into a home that is more accessible and easier to maintain could be the best option – and now’s the time to do it.

There are a number of reasons why downsizing could be advantageous, from financial to physical, and should be weighed up when deciding whether to make a move.

Selling the family home and moving to somewhere smaller could free up some cash, which could either be put away for a rainy day or used to enjoy retirement. A report by Lloyds Bank shows that moving from a detached three-bedroom home to a flat or bungalow could earn downsizers an average of £109,659.

A smaller home, particularly if it is a new built house or flat, may also be more energy efficient, which could lead to smaller electricity or gas bills. A smaller home also requires much less upkeep and means that as the owners get older they have less of a struggle to stay on top of things. Moving into a flat would also mean that there is no garden to look after. Or it may be that downsizing will provide the opportunity to move into a more accessible property, including a bungalow or homes adapted for people with limited mobility (ramps, stair lifts and easy entry baths to name just a few of the modifications). When downsizing, many people look at retirement developments.

These are often blocks of flats or residential parks only available to people above a certain age.

For many people, this is quieter than living in mixed accommodation and offers the chance to socialise with people of a similar age.