How the Housing White Paper affects downsizers and our top tips
Downsizing your home is a tough move to make – however with the Government releasing the Housing White Paper – it may be about to get slightly better for downsizers.
In the recently released White Paper, the Government acknowledged the barriers to people moving out of family homes that they have lived in for decades. They went on to promise that they were ‘committed to exploring these issues further and finding sustainable solutions to any problems that come to light.’
Trevor Clark, of financial planning firm Rutherford Wilkinson, said: “The white paper did say that custom built houses are to be encouraged and the Government noted its support for sheltered, step down and extra care housing, which offers older people more confidence to move into a new home where their needs will be met.”
You may decide to downsize so that your home is more manageable, you want to live in a better or more convenient location or you may need to simply release equity. Whichever the deciding factor, it’s important not to cause more undue stress on top of the emotional detachment from your home. Here’s our tips on how to make your Surrey move a smooth one.
Releasing your cash
If you’re downsizing so that you can free up some money for some family members, then it’s a wise move to work out how much money you will need for your new Surrey home. Downsizers usually save around 70% of the equity for themselves and release the remaining 30%.
Avoid the hoard
It’s very easy to accumulate a lot of unneeded clutter around the household and if you have lived in your home for several years you could have too much to cope with.
Getting rid of it not only frees up space for your new home, your current house will view better and look better when advertising a sale.
When you’re looking to sell your Surrey property, you may find it seems like it needs a modern refurb in order to boost your chances of a sale.
Resist the temptation as Surrey buyers often prefer to refurbish it to their exact preference – just make sure the house is tidy.
Try not to go over the top
Think carefully about what you need in your new house – a spare bedroom, room for visitors – people often downsize too much and find their house is not sufficient for them.
There are plenty of Surrey homes to choose from so make sure you pick the right fit for you.
If you are looking to rent your property in the Surrey or Sussex area, get in touch with our lettings office on 01883 340024 or visit our website here.