Property: three reasons why now is the right time to downsize

Following the events of the last 12 months or so, have you found yourself thinking increasingly about downsizing your home? Maybe its physical size is simply not required and takes up too much time, money, effort to maintain, or perhaps your home holds your nest egg and it's time to cash in and enjoy the equity, doing whatever it is you have dreamt of doing. There are many reasons why people in your position are taking action now - perhaps it is time for you do the same?

Family is usually a key driver in people moving, particularly when children are further away than you would like or the grandchildren have arrived and are growing up too quickly and you don't want to miss it.

If the pandemic has taught us one thing, being close to your loved ones is more important than ever to us all. This may enable you to help your family by giving them the leg-up they need to get on the housing ladder or simply being able to see them enjoy their 'inheritance' whilst you are here, as opposed to when you're gone. It is a growing trend to be able to pass on a considerable wealth to your offspring sooner rather than later, and means you can enjoy those experiences all together.

With many financial benefits to buying a cheaper home than the one you currently enjoy, it's the most common reason to downsize. The thought of clearing your mortgage and other outstanding financial commitments you may have is certainly appealing, and potentially you can tie that in with moving to a lovely new home, perhaps in your dream location. The health benefits to removing any debt or borrowings are said to be hug,e and this provides one with a sense of freedom, not to mention more disposable cash to enjoy. Whether you are retired or are planning for it, removing any financial burden can only be a step closer to making your life more enjoyable.

Don't you think it's about time you spoiled yourself? You've dreamed of living by the coast or maybe having that holiday home in your favourite place to visit, and by downsizing, you can make these distant goals a reality. Extended holidays are also high up on the list when it comes to downsizing, whether it be on the other side of the world or perhaps a road trip across Europe, seeking out the golf courses you have always wanted to play, visiting the vineyards that have produced your favourite tipple or combining a road trip with a boat trip and exploring the Mediterranean or Black Sea.

For some, that slice of luxury is closer to home - getting that sports car, or a boat to fish as often as the weather allows. You will have choices as to how you spoil yourself, but spoil yourself you will!

Moving home is always a personal choice and a big decision as well. It should be the right time on a personal level for you to start a new chapter in your life, and hopefully you and your loved ones can all be a part of that. Often people seek the 'perfect' time which doesn't always appear, so you have to take a leap, one that you have been putting off, and keep your eyes on the goal.

2021 has seen the one of the most active housing markets for decades; the economy appears to be bouncing back, and downsizing now could be just what the doctor ordered.