Newberry Tully Estate Agent

What Do Downsizers in Seaford Want?

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

In 2021, 181,000 people across the UK downsized, according to an industry survey – this figure will rise when the stats for 2022 are collected.

We’ve seen a lot of downsizing activity across Seaford and Bishopstone in the last 18 months. The definition of a downsizer is usually someone who purchases a property that is at least 20% cheaper than their previous property and has at least two fewer bedrooms.

Why do people downsize?

Free up equity Often, people downsize to fund their retirement or help their children get on the property ladder. In this current economic market, many downsizers are simply cashing in and making the most of their home’s value. Reduce maintenance As we age, 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 nearer to children and grandchildren.

Stephen Newberry Andrew Tully What do 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 definite turn-offs. Little or no DIY Downsizers are often reluctant to want doer-uppers. 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 you can’t bear to part from. Proximity to amenities They may want a quieter pace of life, but many downsizers still desire access to shops, leisure facilities and public transport.

If you’re thinking of downsizing and want tips on marketing your property, get in touch with us.

Thanks for reading and wishing all our readers and clients a happy, healthy and prosperous new year.

Stephen & Andrew

Estate Agents

Newberry Tully Estate Agents 53 Church Street, Seaford (opposite Seaford Health Store) Tel: 01323 490001 www.newberrytully.co.uk