By Nick Sanderson, CEO of Audley Group
I often speak to property owners living in our villages across the UK and they tell me that deciding to downsize was one of the best decisions they’ve ever made, and they wish they’d done it sooner. If I were a betting man, I would put money on it being the phrase I’ve heard most in my 30 years running Audley and Mayfield Villages.
There are plenty of factors that feed into a person’s decision to downsize. Freeing up money is one driver – recent analysis of our own internal data showed that, on average, those who move into one of our villages, free up £205,000. Money that can be put towards helping family, travelling or simply enjoying those retirement years.*
Alongside this comes factors like location, community, familiarity, proximity to loved ones, friends, family and the places people like to spend their time. And for many these are actually more important than the financial boost they receive. Again, our latest data showed that people moving into one of our villages move on average 39 miles to relocate, but the shortest distance moved was just 0.1.miles and the largest was 504 miles.
For some, downsizing is the time to adopt a whole new lifestyle in a new community. We’ve had owners relocate from a rural property with acres of land to Audley Nightingale Place, in Clapham Common, a stone’s throw from the buzz of the UK’s capital city or Audley St George’s Place, in the busy town of Edgbaston. We have other property owners who have done the opposite and now enjoy the quiet surrounds of the countryside, and some who have, quite literally, moved down the road.
What this reminds me is that deciding to move at any age, but particularly as you get older and out of large family homes, is a deeply personal choice. What’s right for some, isn’t right for others.
However, something that does always seem to crop up, is the enormity of having to sort through many years of possessions, and treasured items. It’s something that can often seem overwhelming but after years of chatting to owners, and our team, there are some tips that we have put together for anyone thinking about the move to a smaller property.
- Find enjoyment in the process. Compose a list of your indispensable possessions and get a clear image of which items are fundamental for your lifestyle. It will gradually become clear which belongings can be passed on to family, friends or charity.
- Take your time. Gradually reduce your possessions over weeks or months to ease the process of downsizing. Work your way up to tackling the bigger projects within the house to reduce the chance of giving up altogether.
- Find a suitable decluttering technique. One of the most popular is the ‘four boxes’ technique. Label each box with ‘keep’, ‘sell’, ‘donate’, ‘throw away’ and sort accordingly. No decision is final just yet but sort little and often to avoid extended reminiscing.
- Ignore the clutter. Taking time to downsize your belongings will cause upheaval in your home. There will undoubtedly be lots of boxes around the house or furniture out of place, especially as you categorise items. Keep going gradually and eventually you’ll start to feel you’re making progress.
- You don’t have to do it alone. If you feel deflated or you’ve lost motivation, reach out to a friend or relative to help you. A fresh pair of eyes can help you work through the things you’re struggling to part with and give you a fresh perspective.
- Choosing the right community. When you are deep in the decluttering process, you want something to look forward to. When looking at where to move to consider how it will complement your current lifestyle or the one you want to lead. Think about the location, proximity to the things you enjoy doing, friends and family, and the type of community you want to live in. Look at all the options that are open to you and go to visit them all. You might be surprised with what takes your fancy.
- Thinking about downsizing into a retirement village? Check the operator is a member of ARCO. ARCO is the trade body for the retirement living industry and in becoming a member, operators agree to a number of standards. This ensures that prospective buyers are given all the information they need to make an informed decision, there is transparency on the costs and fees that come with living in a village, and there are core levels of service that you can expect from the operator.
