Will I regret downsizing so much?

[SpyouttheLand]

I have a large 4 bed detached house with a big garden. I've never loved it but it gave us lots of space when DC were young, which was a particularly godsend during lockdown when we had 3 adults wfh and one on furlough! I find the responsibility of owning and mainyaining a large home quite stressful. There's always something that needs doing and finding tradesmen etc is hard work!

Tbh I've often longed for a small but perfectly formed home just for me without all the people getting on my nerves. Be careful what you wish for because in the last 2 years I've gone from a houseful to just me. Last DC moves out on Monday.

I've seen a very expensive new build bungalow. It's about a mile from here but also a whole other world. Still on bus links and close ish to amenities but also quite rural, much nicer area and spot.

It will cost about the same as my house and is basically one large room with kitchen, living room, dining, bifold doors to a small but beautifully done garden with large patio, plus a nice bathroom and 2 good double bedrooms. Driveway for 2 cars but no garage.

It seems perfect for me, but I'm going to have to get rid of so much stuff, leave the place where DC grew up (and DH died). Also not much space if GC come along...

I did this five years ago. I was rattling around on my own in a four bedroom house with three bathrooms and attached garage. Big garden too. Every room, apart from my bedroom, was filled with other people's stuff. I spent the first two months of my early retirement ruthlessly getting rid of unnecessary items. Then I found a three bedroom semi detached bungalow nearer to my daughter but not on her doorstep. She actively wanted me to move closer to her. I had enough equity to change the bungalow to my preference. One of the bedrooms became a dining room. The garden is much smaller but I'm not overwhelmed by it. The area is pleasant, most of the neighbours are lovely. I have occasionally reminisced about my 'home' town but never regretted the move. And I would agree- do it while you're young enough to cope with the process. Make a list of pros and cons first. Whatever you decide, I wish you well.

Bungalows are always more expensive or just as expensive as houses, they cost a bomb. The idea that downsizing is cheaper is a myth

OP,, personally I wouldnt like the idea of just one room, I hate open plan living anyway but moreso because its just like a massive studio flat

Go for it! The bungalow aspect is future-proofing. A small but perfectly formed detached home, with small perfect garden is my idea of heaven.
Bi-fold doors - yes! Open plan living just for you - yes!
Two bedrooms sounds ideal. The area you'd be moving to is an upgrade by the sounds of it too.

(can you tell I'm living the too big house / too big garden / big bills / lots of maintenance & cleaning 'dream' at the moment!)

Sounds great. Do it now while you can. My parents moved at 60 to a flat with concierge - people thought they were too young but they loved being able to travel without worrying about the garden or security. It’s been ideal for them and they’ve been there long enough (mid to late 70s now) to build a local friend network which will be great if they become infirm.

How old are you? How much money do you have? Will DCs and dGCs visit regularly? Are family nearby or far away so you are going to be leaving the house unatteneded to visit?

Will one spare bedroom give you enough room for your visitor needs? If the answer is yes, or if you have other options (nearby cheap hotels for family willing to do that) then I’d do it.

This. I know someone who downsized from the family home to a bungalow (when bungalows prices were at a premium versus house prices) after the kids had left home. Fine until the kids had families of their own and had moved far away, so needed accommodating when they came to visit. It was too much of a squeeze so they eventually sold the bungalow and upsized to a house again (at a time when bungalows had lost their price premium over houses). So financially it wasn't a good move at all.

Sounds incredible. Having an extra spare room is more than many families have and it sounds like your kids are mostly local anyway.

I'd say go for it. If it's anything like round us bungalows hold their price because they're in such short supply and high demand so if you change your mind you could move again.

Are your DC living locally still? PIL downsized to a 2 bed bungalow. It was OK staying with 1 child, but became impractical with 2. (Not enough floor space for 2 extra cots/mattresses plus our second was a dreadful sleeper). An open plan living space makes it harder for people to stay in the living room. When BIL and family stayed from abroad, we stayed in a hotel, which upset PIL, but there was no other option.

Of course there is no obligation to host your family, and if they are local, they are unlikely to stay much anyway. In which case, one spare bed for the occasional grandchild sleeping over would probably be plenty. It was more for you to think through the future and what is right for you.

Bungalows are lovely and so much nicer than flats etc. I wish there were more available as they are great for older people.

I am in a 4 bed detached now with DH and 2 young DC and bought from a lovely lady who seemed to be in the same situation as you. She said it was nice for her to know that the house would be going to a new family to make new memories, and I love our house so I am very glad she decided to put it on the market! I’d say go for it, get the declutterinng done and enjoy your lovely bungalow 😊

I am considering exactly the same thing @SpyouttheLand, for different reasons. I’m young yet, but I like the idea of getting a place that will work for me for the years to come, with less upkeep and thus time to concentrate on other things. Go for it!

Absolutely go for it now while you can, it sounds amazing for a new era of your life and you won't know yourself! Bungalows here are also wildly expensive as they tend to be built on lovely spacious spots.

I used to have a washing machine in my kitchen/sitting room and I found the noise quite comforting! If it's just you, you won't be doing THAT much washing surely? Just spend a bit of money on a really good quiet machine.

I think, as lots of people here are saying the same, is that if you feel the urge while you're still hale and hearty you should rush towards it, as the longer you leave it the more overwhelming the thought of going through your things and doing the pain that is conveyancing in the UK will be.

Well, bungalows can be more expensive and new builds are sold at a premium. Are there other smaller properties on the market locally to consider? You may not need the equity but it could pay for some nice holidays!

The open plan doesn't help with guests though. It's a different way of living and fine for one but if you had a separate living room or dining room then a guest can have that space (sofa bed) to stay away from the kitchen area when they come. Maybe one spare bedroom is enough though and getting rid of a lot of stuff will be therapeutic.

OK,I see the issue with the washing machine, but on my own I only put it on once or twice a week!

The one room gives more space for entertaining than two smaller ones would?

ATM it feels like DC won't visit that much. Two boys who have both been welcomed into large lovely and lively families, whereas there's just me here. Nothing much to come for. I'd like to think I'll have some involvement but I think that will mean me going to them more (which I'm trying to see as less work for me!). Things change though and who knows? They both live locally currently, so not much call over overnights anyway. I have this idea that I'll have adventures in a small camper van and that can be a spare bedroom on the drive if needed!

I might be paying a premium for the new build but bungalows do carry a large premium round here. It will hold value as well as my house will.

I'm only 50 and currently in a good job I enjoy. I don't want to retire but might look to go PT, which could still give me all the standard of living I want. Pre kids I had an even better job and left while it was still a final salary pension, so actually my pension income could be higher than my current salary. There's some death benefit from DH which I don't need and which can be used to help DC if they need it (I see that as their money although they don't know it's there yet!). So really cash is the last thing I need. Having too much becomes a bit of a problem (sorry I know that's awful).

Well, look, I'm sure you would rather have not gone through your DH dying so no one can begrudge you the fairly shit-circumstances death benefits surely.

'Nothing much to come for' - you sound like such a lovely, caring person, I'm sure your DC love you and a nice quiet comfortable house with your mum making you a cuppa is A LOT to come for and I hope they appreciate that!

Camper van sounds amazing.

I think downsizing now sounds like a great idea. At only 50 it doesn't sound like you are likely to need a bungalow but if you love it that's great.
My only lookout would be if you'd rather buy somewhere near your children, if they have grandkids in the next few years, especially as new build prices are being most hit by housing price drops, so it might be hard to find something equivalent.

However if it's an area you love and perhaps good for work too, makes sense to downsize now and to a place you love and you'll have time to move again if you ever want. A spare room plus living room sofa is fine for visitors for a while, and if you're not short on cash it's in my experience actually often better anyway to hire out an Airbnb or something if a ton of family are visiting, it gives you all some space. Good luck!

Oh I'd go for it in that case, if you don't need to release cash. Also I'm a bit about the poster uptrend who referenced someone who then upsized just to have space for holidaying relatives - what are airbnbs or premier inns for?? No way would I keep an excessively large house just for my adult dc who have lives elsewhere in the country to come sleep once or twice a year!

Go for it.

It sounds perfect for this chapter in your life.

I love a big kitchen living diner that opens on to garden. This is the exact balance I would be looking for and imagine why it was built for a mature age group - less bedrooms but big entertaining space for intergenerational families.

Most entertaining in my family is around the table. With your DSs, their partners and then possibly DC and other friends and relatives - it’s nice to have the potential for a large table that can extend to accommodate 8-10 with ease.

I don’t understand why people endure the annual and ongoing costs and maintenance of multiple empty bedrooms for occasional use - I would pay for my family to stay in a local Air BnB - or take myself off to a local hotel overnight and let them have my house with their early rising toddlers whilst I had a nice lie in. The van is a fabulous idea.

Quality over quantity every time.

You'll be future proofing to a degree by going for a bungalow. Look up the council tax cost and find out what type of heating it has. The running costs of a property are no longer negligible so look at all the associated bills to see if that will make a difference as well as just maintenance costs.

I think you should go for it

I did exactly that last year! DH & I left the home we had lived in for 40 years, only home our DC had ever known. It has work out just great! Shed all the crap we didn't need any more - my life feels so much lighter! New house easy to keep clean and tidy, no need for help. We even cut down to 1 car as we're now on a bus/train route. I bought an e-bike for when I don't feel like walking to shops. I'd say do it! You won't regret it.

Hmm bikes. Atm I have 6 bikes in the garage amd three of them are mine 😆 Road, mountain and hybrid. All expensive and fairly well used. I'm going to need a big secure shed!

I say do it, OP.
Though my views may be coloured by the fact that we're 15 years older than you, and have been talking about downsizing for 3 years. Still looking for the perfect place!!

Go for it - sounds lovely, I'm envious! We moved last year - me semi-retired and OH fully retired. For various reasons we ended up not downsizing and I am struggling to keep the house tidy and clean. Arthritis doesn't help!

I came on here to say do it but can now see you are only five years older than me and younger than my DH and we are contemplating upsizing from our 4/5 bed house!

It sounds to me like you don’t like the house you’re in anyway enough to see the maintenance as a labour of love so for that reason alone it’s worth contemplating.

This won’t be your last move though: if it’s in a more rural location, how far is the local
hospital/GP surgery and are there useful shops within walking distance? You may find you move closer into town in much later years.

It sounds like your DSs are too young to have children yet but you may find yourself suddenly catapulted to favourite parent/PIL if you have the time or inclination to help with childcare.