As children start to leave home and parents get older, as homeowners they often look to change their lifestyles by living a little simpler. This could mean that downsizing would be on the cards, which means that they would consider moving to something smaller. Penrith Storage Unit
The reasons for this could be to find ways to live more economically or to relieve the burden of maintaining a large property. Moving could mean going to someplace quieter, out of the rat race where life is more laid back.
Either way, downsizing should be about making things easier, reducing the stresses and strains of everyday life.
Stop & Store Penrith is a self storage unit provider of various sized storage units based just on the outskirts of Penrith. Our facility is perfectly situated on the A66 for those needing to store goods in the event that they have excess household goods, stock, sporting or boating equipment that needs a temporary or long-term storage unit.
If you are considering downsizing and finding peace and quiet in Cumbria, Penrith is the ideal place to base yourself while you find a place to settle. Bring your essentials with you, keep them in a storage unit while you look around and find your new life in this beautiful area.
Considerations When Thinking of Downsizing
Downsizing is not a decision taken lightly. As many of us would have stayed in the same house for lengthy periods and built up a support system around us the idea of moving is a difficult one. There are usually a few reasons for considering downsizing.
- Financial reasons. A large property could have more value that a smaller one and there’s a possibility of a capital gain.
- The house is genuinely too big since the rest of the family have grown up and left the nest.
- Large properties are a big job to maintain, with large gardens, a swimming pool and various other things that can go wrong.
- It’s time for a change: making life easier for yourselves.
Beware of hidden extra costs
Its natural that one was to think of profit as the difference between the selling price of your current property and the price you pay for your downsized property. But we’d be neglecting our responsibility to you if we didn’t point out some hidden costs that eat into your profit figure.
- When transacting the transfer budget for a conveyancer fee of £2500
- If you have sold through an online estate agent, even though their fees are low, budget for an additional £700, or by traditional person to person means calculate an additional 1.5% to 2% extra from your profit payable to the agent.
- The starting point for paying stamp duty is £125 000, at 2% up to £250 000. Thereafter you will pay 5% on amounts over that figure.
What about the moving costs? Well, they will depend on the size of the load and the distance involved. A reasonable average cost of a local move is £1200.
What are The Downsizing Options?
The best advice that you can get is to do your homework thoroughly before you start thinking about downsizing. The popularity of smaller units and competition from first-time buyers has pushed up prices. As a downsizer its likely that you’d want to stay near to your existing circle of friends rather than move far away from them, so you can start your search in nearby communities.
Some sacrifices will have to be in order: if you are used to a big garden, then a smaller one will have to suffice. Consider access by public transport to nearby shopping facilities as well.
Retirement homes have their benefits and are in big demand, meaning that there is sure to be a waiting list. While getting your name onto a list doesn’t commit you financially, in relation to other properties, retirement homes can be expensive. They do offer a cozy community to live in, and the chance to have a good social life. Consider all the extra levy charges and other fees you will have to pay in a retirement home as this could be an unpleasant surprise and leave you short on your budget every month.
The problem arises with all the possessions you have accumulated over the years, and if you find yourself having to move at short notice or don’t have space for excess household goods, then self-storage is an excellent option to store them. In this way you have breathing space to move and act later.
Stop & Store Penrith is a great option if you are downsizing, and you need a secure storage unit to store your possessions.
Packing up
When packing up a full house and having to relocate there is a lot of hard work involved. Starting at the beginning its best to clear out the house of all the junk that you don’t need. Once the junk is disposed of packing is a little easier.
Your new home will determine how much you can take with you, and how much space there is for your furniture and appliances. Once done, decisions will have to be made on what to do with what is left. While you may be tempted to sell everything through a garage sale or give away to charity, often there are items of both monetary and sentimental value that you would want to have time to deal with properly.
By keeping your excess items in a self storage unit, you can have time to deal with the sale of your possessions or the allocation to other members of the family.
This helps you clear the house for sale and makes your life a whole lot easier.
Final Thoughts
Downsizing is a huge step to take and depending on where you are in your stage of life, it can be very fulfilling, being in a new fresh environment, making new friends. Don’t let excess possessions spoil your experience, simply consider self storage for them.
We offer all sizes of storage unit all designed to suit your needs. Being safe, secure, dry, they are perfect for short, or long-term storage.
Please contact us on Penrith 01768 800291
Look on our website https://www.stopandstore.co.uk/penrith-storage/ for more information.