If you are considering whether to downsize or not, this article will help you consider why not to move to a more compact home.
Downsizing is becoming a popular option for many people these days, and over the last few years estate agents have seen nearly a 20% increase in enquiries from people looking into it.
As great an option as downsizing is for some, it certainly is not right for everyone because there are pros and cons to downsizing as you get older. Below, we are going to look at some of the best reasons not to downsize and to instead, stay in a bigger home, or consider other alternatives you might have not thought about. Here are some good reasons not to downsize:
Staying Put: Good Reasons Not To Downsize
Sometimes, downsizing isn’t the right option for you. There are lots of reasons that might be the case, and the reasons below are some of the most common:
Space & Comfort
One of the most common reasons a person chooses to stay in a larger home is because they feel comfortable in a bigger home. You might prefer to spread out, to have multiple guest rooms, and to entertain guests without everything feeling too compact. You may well find it easy to keep on top of clutter and cleaning, especially if you utilise local self storage, and have private cleaning and gardening services. Having a bigger home might be more work, but it is worth it for many people, and the benefits of the bigger place outweighs the negatives, so much so that downsizing is just not an option.
The extra space and spare bedrooms could also come in useful in the future should you ever need help with care and would prefer not to move to a residential care home. If you have the spare room you could easily make use of live-in care that would enable you to have professional care and support in your own home in your later years.
A family home can be absolutely packed full of memories. It might be where you raised your kids, where you had many beloved family pets. There are likely many celebrations, milestones and big memories that every single inch of that house carries. It could also be a house that has been passed down through generations, making it even more meaningful.
It can be hard to think about letting this kind of property go, so much so that downsizing would be the wrong emotional choice at the moment.
The emotional stress of downsizing is highly impactful, and not everybody is ready for it. It can be challenging making such a big change, especially if you have a lot of stuff, and you attach a lot of sentimentality to your property. Sometimes downsizing just isn’t the right choice and needs to happen at a later date when you feel more able to deal with the emotions of the situation.
Staying in your current home could be the best financial choice at this time. Your house could be increasing in value because of its location or because of the housing market. It depends on the economic climate at the time, which doesn’t always match what we need to do financially.
Additionally, many people choose to make the most of extra space in their home, rather than downsizing. It might be suitable for a live-in carer. It could have space for an Airbnb or for a family member to move in to provide care (saving money for them, and private care costs for you). All that extra space can be put to good financial use.
Home Office Or Business Needs
Do you have business needs or office needs that require a bigger property? Extra storage, or a home office can be really integral to home businesses, which can mean downsizing is not suitable for you at this time. In the future you could use local self storage, hot desking and serviced office options. But, for now, if your property supports your business it probably is not the right time for downsizing.
Maybe your property has the ability to be extended or to add a granny annex that can accommodate you in later life, whilst your family moves into the main house. This is an arrangement lots of families set up to accommodate the needs of all generations.
It may also be that your house can be easily adjusted to suit you with advanced health conditions. Ramps, stairlifts, widened doorways, landscaped gardens – all of these adjustments may be easy to add to your house. This could mean downsizing to accommodate future care needs is not necessary, and you can live safely and comfortably in the place you love the most.
Do you have lots of musical instruments? Do you require an art studio? BIG hobbies require BIG spaces and so, downsizing might not serve these activities that you do for your emotional health. If those passions mean everything to you, they can’t just be given up because you want to downsize.
Pets are incredibly important to many people, and if you have a lot of pets or large pets, downsizing may not suit those animals at this time. They may need a larger house to be comfortable. Pets are like family, so it isn’t just a case of getting rid of them to get a smaller place. They come first, which means downsizing might need to be put off for a while.
A Lack Of Local Options
Community and location is really important. Even though you might want to downsize, you might love your local area more. Your neighbours, your proximity to the shops, to friends and family, to work – it’s all so perfect. Whilst the house may no longer feel practical, sometimes the area is just too good to give up, and downsizing isn’t the right option right now.
For Now, Downsizing Is Delayed
It is important to know that downsizing is not the better option for everyone. Whether you’re too attached to your current home, or you love your lifestyle too much to give it up, ultimately, your home should reflect your values and your needs. Downsizing is delayed for now, and can always be reconsidered in the future. For now, enjoy the bigger place you call home, for continued memory making and happy times for the foreseeable future.