Dodging downsizing
Sideways moves let you make money and keep space, writes Paul Drury
In terms of career progression, a sideways move is rarely a good thing. The gossips in accounts will conclude your star is on the wane, that you have gone as far as you can. But in the housing market, a sideways shift could offer you the perfect solution to the dread of ‘downsizing’.
Older homeowners are constantly under pressure, once their children have flown the nest, to trade in their four-bedroom semi for a two-bedroom flat.
For many, this opens up the horrifying prospect of losing half of your furniture and having to ruthlessly reduce the piles of memorabilia gathering dust in the loft. But you kept those 1970s cassettes for a reason. Your child’s first cradle is as important to you now as it was 30 years ago.
But it is only if you insist on staying in the same area that you are obliged to buy a smaller home if you want to gain some cash.
Vastly rising property prices in some hot spots mean that if you are willing to move a mile or so away, you can retain the same size of property you are accustomed to and make some money. Take the South Side of Glasgow, for example. A couple in a sandstone fourbed semi in the newlands area could expect to sell it for between £450,000 and £500,000.
In the neighbouring community of Cathcart, barely half a mile away, a six-bedroom sandstone villa is on the market for offers over £260,000.
It retains many of the Victorian features ‘side-switchers’ from newlands would be used to, such as a gorgeous wooden staircase and intricate cornicing.
The layout is a little quirky, with the apartments all contained on the first and second floors.
Crucially, all the original doors have been dipped and there is plenty of storage space thanks to countless cupboards and a roomy basement area.
Matt Munday, of selling agent Home Connexions, said: ‘This could be a wonderful opportunity for someone hoping to release some equity in their home without the pain of losing space.
‘In many cases, people switching from neighbouring areas will find this house has more room than they already have.
‘The property could equally appeal to a growing family as there’s a spacious garden.
‘For anyone dreading “downsizing” this could be just the ticket.’ Cathcart is one of Glasgow’s oldest areas and popular with commuters.
Two railway lines serve the local train station, the Cathcart Circle and neilston lines, which means you never need to wait more than ten minutes for a train to the city centre, and can be at Glasgow Central in 13 minutes.
Offers over £260,000 to Matt Munday of Home Connexions. Call 0141 212 8686.