Will high energy bills mean more people downsizing?

[flashbac]

For those underoccupying houses just for the sake of it, because they like the luxury of loads of space, because people come and stay every other Christmas or whatever. Energy rates are horrendously expensive now. Will more people think about downsizing do you think?

It costs to move, so no.

I don’t think so. Selling and buying again are really costly things to do, and if property prices are rising then downsizing doesn’t help.

It’s also just expensive to move for anyone, even if they down own. Renting and paying bond again etc.

Whenever I see people advise others on MN to move because they’re struggling financially where they are, it seems really clear to me they’ve forgotten how costly moving is. It’s something that’s actually really daunting when you’re on the bones of your arse.

And a bungalow where I live costs more than a family home.

No chance here. Would not consider a house without a decent size office each as a minimum unless forced to relocate somewhere we couldn’t afford to match that. The pandemic has just clarified why a big house and lots of outdoor is so desirable.

As it is we have the heating on frost protection for close of half of the house that we rarely enter. But on bedroom counts alone our office requirements will always put us as ‘under occupied’.

Might take more than just high energy bills.
If say inflation is say 15% by the end of this year, 25% next year and the year after, bound to make more than a few people think.

Personally I think inflation is about to skyrocket, but that may be just me.

I'd be surprised, unless older people who have fixed income and family have flown the nest.
We're looking at making savings -

• have gradually changed all light bulbs to led minimum energy
• more careful about using minimum energy - lights, turning ring on hob off or oven if early and finishing cooking on residual heat, turning off appliances on standby for any length of time

• found our night-time lekky rate is going up to less that our old day rate, so going to use timer on washing machine to run during early hours (neighbors far enough away), and dishwasher early morning - we are early risers.
• we're not on gas, but held off buying heating oil which was a dumb move as price now 28% higher than 10 days ago so a conservative amount now £160 more expensive, so going to hold off and turn thermostats down to conserve what we have.

We generally spend about £90 on electricity a month which in our house with us and two teens is pretty good, so although it will rocket, hoping we can keep a lid on it to some extent.

Give this thread a couple of months, and I think most of the comments on here will look very dated.

Downsizing is not always the cheaper option. Living in a flat where all heating is electrical and having to pay ground maintenance fees may be far more expensive than staying in your big mortgage fee house and pay another £200 in gas fees.

lightand

Personally I think inflation is about to skyrocket, but that may be just me.

Im sure you’re not the only one to think this, it’s at over 5% and thoughts are will hit 7% and that was before the Ukrainian war took pace

I think its ludi Rous the way singles or couples live in vast homes they can't maintain or heat. I do nhs home visits and often visit elderly who live in one room of a huge house that they can't heat and just keep shutting rooms off. What a criminal waste. My son DIL and I live in a house we've divided into 2 flats and we've converted the garden building and rent it out for extra income. I dont want to grow old in a big house alone. Also means we can look after each others pets when we go away and DiL who is disabled doesn't have to work.

No I doubt it, they’ll just use less heating, shut doors, cut back on other stuff.

All the posters saying you only heat the rooms you use, how do you stop mould and damp setting in?

Possibly renters might downsize, but I doubt homeowners would as the legal costs and stamp duty would put most people off moving.

Our DC have flown the nest.

The hassle and cost of moving means we won't downsize, plus two of the bedrooms are now home offices.

We are turning the radiators off in a room we don't use unless the family are here.

After having all this space and a large garden, we're not inclined to change that especially as we worked our backsides off to renovate and extend over the years.

@HorseGallopingOnATomato

All the posters saying you only heat the rooms you use, how do you stop mould and damp setting in?

Depends on the house. Most mould and damp comes from rooms being lived in - breathing, cooking, washing, showers etc. if a bedroom is unused and Seles it shouldn’t get damp surely?

@Nidan2Sandan

Possibly renters might downsize, but I doubt homeowners would as the legal costs and stamp duty would put most people off moving.

Also to a lot of older people the house is thier home not property // asset

It has emotional connection
It's an area they love, they know, they feel safe in
The decor , the garden , the neighbours are all things they stand to lose when they move
Being able to host random family means they are still needed and useful

I doubt it. We're trying to buy a bigger house at the moment and would love it if some came on the market! But moving house costs a fortune - conveyancing, stamp duty, removal costs - far far more than the increase in utility costs.

Also size doesn’t equate to insulation

A 5 bed modern house built in 2015 will be far cheaper to heat than a 1930s 3 bed without cavity wall insulation, single glazing and little loft insulation

Think you have misunderstood there. I am on a fixed rate for another year, so I am protected from price increases, that is after all the whole point.

Otherwise why fix if the supplier can back out if they want.

We live in a 4 bedroom house, just the two of us. Always been just the 2 of us. We will downsize not because of fuel bills but before we get too old to manage it.

Moving isn't cheap, stamp duty is a punitive tax and stops People moving.

People who are renting might decide to move but even then it's not without cost.

People think of the actual cost of moving they forget about the cost of decorating, new curtains and carpets, and furniture that may not suit the new house. So new stuff for the house too.

And a lot of older people just can't be bothered with the hassle

@Choppies Yes I know. The audacity of people not handing over the houses they purchased to someone else. After all, property is theft.

I think on the same vein we could definitely say that civil servants should no longer have access to the 26-30% salary contribution the tax payer makes to their pensions, or the 23% given to teachers and lecturers by the tax payer.

Oh and just before I get any abuse for making the above ridiculous statements. I am obviously joking and think choppies needs to wind her neck in before making such idiotic and bitter statements

A lot of people are emotionally attached to their home
Some may be too frail to move
Some heat only the rooms they use
They are used to space
Many older people did not grow up with central heating at all.

My MIL lives in a big 3 bed house worth about 600k in Surrey, she does want to move but it’s overwhelming for her at 80. She is the sort of person you are describing.

Of my closest neighbours in big 3 and 4 bed houses out of 6 houses 3 have one person living in them. But they have bought their homes, they can do what they like.

I wouldn’t want to live in any dictatorship where the state could interfere with allowed living space. My grandparents fled from communism, lost so much but had freedom.

@lightand

Give this thread a couple of months, and I think most of the comments on here will look very dated.

I don't think it's really hit home how expensive things will get. Although it is a fair point that stamp duty may wipe out any savings.