How to Market Your Home to those looking to Downsize

What do downsizers, a growing force in the housing market, want? Check out this two-minute read to find out.

How to Market Your Home to those looking to Downsize

What do downsizers, a growing force in the housing market, want? Check out this two-minute read to find out.
 
Downsizers are emerging as increasingly influential players in the property market, with a growing number of over-55s selling up and buying less expensive properties.
 
Last year, 181,000 people downsized* – the highest number in five years (source: Hamptons, 2021).
 
Why downsizers are important

Downsizers help keep the property market ticking over as they tend to free up bigger family homes. Given the shortage of good quality housing stock, this is good news for first-time buyers and families looking for more room.
 
Why do people downsize?

Free up equity – Often, people downsize to fund their retirement or help their children get on the property ladder. The Hamptons study found that, on average, downsizers were £256,800 better off after making their move – so there’s probably also spare change for a cruise or swanky holiday.
 
Reduce maintenance – As we get older, looking after a large property can be a real burden. Downsizing means fewer cleaning, gardening and general maintenance chores.
 
Lower heating bills – With energy prices skyrocketing, paying to heat a large and predominantly empty home makes no sense.
 
Mortgage-free – Many downsizers want to work less or retire and hence want to be done with mortgage repayments.
 
Family ties – Many downsizers want to live near to children and grandchildren.
 
What downsizers want
There are always exceptions to the rule, but downsizers tend to want:
 
Low-maintenance garden – Rickety fences, leaky sheds and large swathes of lawn that need mowing are likely to be turn-offs.
 
Little or no DIY – Downsizers are often reluctant to carry out major refurbishments, so doer-uppers are a no-no.
 
Good storage – If you’ve lived in a spacious home for years, you’re bound to have amassed many possessions. Even after a ruthless declutter, you’re still likely to have beloved objects with which you can’t bear to part.

Proximity to amenities – They may want a quieter pace of life, but many downsizers still desire access to shops, leisure facilities and public transport.
 
*Downsizer definition: someone who purchases a property that is at least 20% cheaper than their previous property and has at least two fewer bedrooms.
 
If you’re looking to downsize and would like some tips about how best to market your property, get in touch with us here at Allen Residential.

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Meet Our Founding Director James

Meet Our Founding Director James

James Allen is the founding director and owner of Allen Residential. James started in estate agency back in 1997 and after working for a couple of strong independent estate agencies he established Allen Residential in 2005 Keen to invest back into his team, James is dedicated to ensuring that each team member at Allen Residential is a key part of the business, emphasizing the importance of their contributions. His leadership style highlights the significance of a cohesive and dedicated team, fostering a supportive and growth-oriented environment. The business has flourished in recent years, thanks to the staff's commitment to excellence and the implementation of effective systems. James' appreciation for his team’s hard work and dedication is evident, making Allen Residential a thriving and dynamic company.

Why choose Allen Residential?

Why choose Allen Residential?

With an owner who has 35 number of years experience in the industry and 20 years of company history, we bring knowledge, reliability, and expertise to every property transaction.

Our approach is casual and professional, aiming to form personal connections with the people we work with instead of treating them as a number.

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