IS DOWNSIZING THE NEW PROPERTY TREND IN GLOUCESTERSHIRE?
Downsizing was once viewed as a step taken in the later stages of your property ownership journey. It was sometimes even perceived as reducing your quality of living with less space, however in the last few years it is clear that this has been becoming less and less true. More people, that aren’t the stereotypical older couple with an empty nest, are viewing downsizing as a new way of approaching their property needs for many different reasons. There are many benefits of moving into a smaller home, whether it’s down from a two bedroom home to a one bed, or from a 6 bedroom to a 3 bed. One of the main benefits of downsizing is the money that you could save. Downsizing can often mean cheaper bills to pay and spending less money on the upkeep of the property, which can be seen as a great bonus. Some also see downsizing as the best option to get some extra cash in the bank or even just to spend this saved money on holidays and other luxuries such as cars and entertainment. In Gloucestershire the average three bedroom home is £170,000 which is 30.8% more than a two bedroom property which costs £130,000. Whilst the average one bedroom home in Gloucestershire is £85,000 which is 23.5% less than the two bed property. A person selling a three bedroom property and moving to a one bed could be looking at a difference of £85,000. The opportunity to have this much ‘extra cash’ is likely to be extremely appealing and may open up home owners to opportunities that they may not have previously considered. It’s important to really think about your lifestyle and what you want from the future before making any big changes such as downsizing or even upsizing. If you are looking for a bigger or smaller property, or anything in between, then get in touch with one of the nine Andrews branches across the county or visit us online at www.andrewsonline.co.uk