The who, what and why of Downsizing
Downsizing is a term we hear thrown around a lot, but what actually does it refer to, and why all the fuss?
WHO is included in “downsizing”?
While downsizers can loosely refer to anyone sizing their living accommodation to a smaller dwelling, the term usually refers more specifically to those who are:
- Aged 55+
- Working or retired
- Empty nester whose children have moved out of the family home
- Now living alone for other reasons
WHAT does downsizing mean?
Downsizing usually refers to those that are moving from the family home to a more suitably appropriate accommodation; either in terms of size, lifestyle or location.
WHY is downsizing so popular?
It might be surprising just how many benefits people find they can enjoy after downsizing their home.
- Less maintenance, freeing up time
- Free up capital to fund an improved lifestyle
- Moving closer to family or friends
- Health reasons
- A change in lifestyle
- Setting up for the future
For tips on downsizing, check out our post and video from the highly sought-after downsizing guru, Rachel Lane below.