Why instinct is key for downsizers reports Bloor Homes
The UK residential property market has seen a rise in the number of people who are looking to purchase a smaller home, and instinct and emotions are key factors in the final decision of buying reports Bloor Homes.
Across Devon the UK housebuilder has seen an increase in the number of enquiries from downsizers, particularly at its Palm Cross development in Modbury where the 2, 3 & 4 bedroom homes have proved particularly appealing.
A recent survey from the national housebuilder found that 23% of over 55’s were ready to downsize with 47% considering a new-build property. The main reason for choosing a new home were being able to buy a home built to modern specifications and the reassurance of a builder’s guarantee.
Here, Rowena Adams, Regional Sales Director at Bloor Homes South West offers her top tips for those thinking about making the move in Devon.
Top tips for downsizing
- Know the area – If you’re making the move to a new town, visit the local shops, have a meal or a coffee. Our survey found that over 44% of over 55’s would prioritise location over price. For our buyers, the considered locations of our developments are a key benefit.
- Keep stress at a minimum. Moving home at any point in your life is stressful, not just when downsizing. The benefits of buying a new home means that you can often take advantage of schemes that are offered, such as the Bloor Home Exchange, which is designed to make the process easier.
- Don’t discard everything – downsizing doesn’t necessarily mean giving up space. When choosing your new home consider the possessions that will be making the move with you and look at the storage that’s available in the new house from cupboards to the garage space to spare bedrooms.
- Don’t sacrifice comfort and style – Luxury, space and style. None of these should be sacrificed just because you’re moving to a smaller home. New build properties can still offer superior options with beautiful finishes that you can personalise to your own taste.
- Don’t take on a ‘project’ – Very few of those who choose to downsize will want to renovate their new home, and they certainly don’t want to be faced with repairs. Buying a new home means that you will have a builder’s guarantee and the peace of mind that comes with it.
Remember the bills – New homes are almost guaranteed to be energy efficient. So modern central heating systems, double glazed windows, roof insulation will all reduce consumption and use less energy.
Know when you want to move – Once you’ve made the decision to downsize, give yourself a time frame to work within. If you’re buying new, you can move once the house is complete and there’s no chain.
And finally…..Trust your instincts – you’ll know when it’s right. Our survey found that over 40% of respondents knew they wanted to buy their current home after seeing it once and this is reflected in the number of buyers we see, who choose to buy a Bloor Home after visiting our developments and looking around one of our show homes.”