IS DOWN­SIZ­ING THE NEW PROP­ERTY TREND IN GLOUCES­TER­SHIRE?

Gloucestershire Echo - - HOME ADVICE -

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

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