Advantages of upsizing or downsizing
In Wakefield we are seeing the five hundred thousand plus market booming in sales. A lot of this movement is due to downsizing. Many of the larger properties in more select suburbs rarely come on to the market, but when they do there is always considerable interest.
There are pros and cons. Upsizing may have been a dream but think of the practicalities. Your utility bills, council tax, and maintenance bills will be higher. General upkeep will be a much larger task; from gardening to cleaning it will all take more time and resource. Downsizing might be more practical, but how will the lack of space impact on you? Your utility bills might be cheaper but will you be compromising? Maybe you hadn’t considered the need for a spare bedroom, or a utility space, what about the outside space? Or simply the fact you’ll be much closer to your neighbours. For many the realisation can sometimes be quite an adjustment.
Ultimately the best time to upsize or downsize depends on personal circumstances. You have to be fully aware of market conditions, your budget, and be honest about your needs and requirements, otherwise you could stand to lose out financially and emotionally.
Written by: Simon Miller – simon@holroydmiller.co.uk
You May Also Enjoy
FMB calls on Reeves to scrap housing tax threat
Full Steam Ahead! UK Construction to return to growth in 2026
Winter is Coming: Douglas & Gordon Warns Landlords and Tenants to Take Action Before Disputes Occur
Home sellers slashing asking prices amid Budget speculation
Mansion tax would hit London hardest
