Downsizing home is something you might be considering – especially if you are an older person who is looking to retire or take it easy. In this post, we explore the benefits of downsizing your home and what housing options are available.
Why Downsize Your Home?
Downsizing has numerous benefits, especially for older people who are at a time in life where they may either want to take things a little bit easier or need help around the house.
Here are some of the advantages to downsizing home;
Release cash – spending less money on a mortgage each month means cash flow is improved, leaving you with more money to spend on enjoying yourself. Or, and most commonly, a smaller home is bought with the proceeds from a house sale – freeing up cash that would have been stuck in a large home.
More manageable – owning a smaller home means fewer rooms, which in turn means less cleaning and maintenance. Living in a large property can become a chore in your later years whereas a smaller home is easier to manage and frees up more of your time.
Reduce bills – it goes without saying that a smaller home costs less to run. Spend less each month on utility bills such as gas and electricity. A smaller home also reduced your carbon footprint as you are consuming less energy.
Less stress – the advantages above all solve some common issue for homeowners; worries about cash, managing the home and bills. With these stresses removed, downsizing to a smaller home is a time to relax, take it easy and let go of stress.
What Are the Options When it Comes to Downsizing Home?
Downsizing home comes in many forms, here are some of the most common options in the UK.
Moving in with relatives – moving in with relatives may mean moving into a room in their home or into a converted extension. This would give you a reasonable amount of privacy and mean you are close to relatives.
Bungalow – a bungalow is one of the top choices for downsizing. Bungalows are usually smaller than a typical home and are built across one level.
Granny annexe – a very popular option for those who want to downsize and be near relatives but still retain their own home and privacy. Modular granny annexes are often built in a relative’s garden where they operate as their own separate home.
Why Downsize Home to A Granny Annexe?
One of the most practical solutions for downsizing is to build and move into a granny annexe, situated on a relative’s property.
This option has many benefits for an older person who is looking to make their life a little bit easier; being so close to a relative, usually one of your children, can be a blessing later in life. Even if you don’t need help now, just knowing that you have someone nearby can be very comforting. It’s also practical for visiting and checking in with your family and for them to be able to check on you.
You can also look at it as futureproofing your future care too – you may not need much help now but it’s reassuring to be in a position where, if you did have any health issues, help wouldn’t be far away.
A granny annexe is also a great option for downsizers who want to retain their own space and privacy. Living in a granny annexe in your relative’s garden means that you will have your own home, independent of relatives but just close enough should you need them.
No matter how much you love your family, it’s nice to have your own space where you can get away from them! Living in a granny annexe is all about being close enough for comfort but retaining your own privacy and independence.
Looking to Downsize?
If downsizing is something that you are considering, then why not bring a granny annexe into your family’s consideration? Our core granny annexe range starts with one bedroomed annexes in a range of sizes, or two bedroomed annexes for those that want a bit more space. We can even build completely bespoke annexes if you have any special requirements.
Get in touch with a member of our team for more information and to request a brochure.