How to Market Your Low Fell Home to Downsizers

How to Market Your Low Fell Home to Downsizers

Property Sarah Mains 16th June 2022

What do downsizers, a growing force in the housing market, want? Check out this two-minute read to find out.

 

Downsizers are emerging as increasingly influential players in the property market, with a growing number of over-55s selling up and buying less expensive properties.

 

Last year, 181,000 people downsized* – the highest number in five years (source: Hamptons, 2021).

 

Why downsizers are important

Downsizers help keep the property market ticking over as they tend to free up bigger family homes. Given the shortage of good quality housing stock, this is good news for first-time buyers and families looking for more room.

 

Why do people downsize?

Free up equity – Often, people downsize to fund their retirement or help their children get on the property ladder. The Hamptons study found that, on average, downsizers were £256,800 better off after making their move – so there’s probably also spare change for a cruise or swanky holiday.

 

Reduce maintenance – As we get older, looking after a large property can be a real burden. Downsizing means fewer cleaning, gardening and general maintenance chores.

 

Lower heating bills – With energy prices skyrocketing, paying to heat a large and predominantly empty home makes no sense.

 

Mortgage-free – Many downsizers want to work less or retire and hence want to be done with mortgage repayments.

 

Family ties – Many downsizers want to live near to children and grandchildren.

 

What downsizers want 

There are always exceptions to the rule, but downsizers tend to want:

 

Low-maintenance garden – Rickety fences, leaky sheds and large swathes of lawn that need mowing are likely to be turn-offs.

 

Little or no DIY – Downsizers are often reluctant to carry out major refurbishments, so doer-uppers are a no-no.

 

Good storage – If you’ve lived in a spacious home for years, you’re bound to have amassed many possessions. Even after a ruthless declutter, you’re still likely to have beloved objects with which you can’t bear to part.

Proximity to amenities – They may want a quieter pace of life, but many downsizers still desire access to shops, leisure facilities and public transport.

 

*Downsizer definition: someone who purchases a property that is at least 20% cheaper than their previous property and has at least two fewer bedrooms.

 

If you’re looking to downsize and would like some tips about how best to market your property, get in touch with us here at Sarah Mains Residential on 0191 487 8855.

   
 

Newcastle Office
119-121 St George's Terrace
Jesmond
Newcastle upon Tyne
NE2 2DN
0191 240 3333

js@sarahmains.com

Low Fell Office
4 Beaconsfield Road
Low Fell
Gateshead
NE9 5EU
0191 487 8855

lfs@sarahmains.com

Whickham Office
8-10 The Square
Whickham
Newcastle upon Tyne
NE16 4JB 

0191 488 9999
ws@sarahmains.com

About Us

Sarah Mains Residential Estate Agent | Branches throughout Newcastle and Gateshead. 

Open 9am to 5.30pm Monday to Friday and 9am to 1pm Saturdays

2021 © Sarah Mains Residential Sales & Lettings. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | Complaints Procedure | Disclaimer
Sarah Mains Residential Ltd. Registered in England & Wales.  Company No: 04324202.  Registered Office Address: 8-10 The Square, Whickham, Newcastle Upon Tyne NE16 4JE . 
Sarah Mains Residential (Whickham) Ltd. Registered in England & Wales.  Company No: 05774118.  Registered Office Address: 8-10 The Square, Whickham, Newcastle Upon Tyne NE16 4JE . 
Sarah Mains Residential (Newcastle) Ltd. Registered in England & Wales.  Company No: 04919065.  Registered Office Address: 8-10 The Square, Whickham, Newcastle Upon Tyne NE16 4JE .