The way we live is changing. And this shift, for many, has brought one question into sharp focus: where do you really want to be at this particular stage in your life? It’s an exciting prospect.
Much has been written about upsizing and the race for space towards larger gardens and home offices, but what about downsizers – or, more accurately, “right-sizers”, a better term for those choosing to move to a smaller, more easily maintained home? Starting a new chapter in life, removing the high costs of keeping a larger property, simplifying daily routines or just taking a leap into the unknown are all reasons that motivate people to right-size in the current climate.
A key driver for a large proportion of Savills buyers who have decided to right-size is the desire to be closer to family, says Andrew Perratt, head of UK Residential. “The past three years have made many people realise they want to be nearer their children or grandchildren. Although the current market might not seem the ideal time to make the move, actually the lack of properties available means those that are priced correctly are likely to sell. Releasing these homes onto the market is critical to market recovery.”