Too soon to downsize if it's the right house?

[BobLobla]

We've lived in a our lovely Victorian semi for 23 years and brought our two dds up in it. 4 bedrooms, close to amenities and community centre, reasonable sized garden; we've spent money on getting attic converted to bedroom and making kitchen/dining room into open plan space. We're very happy here. Eldest dd is final year at Uni and youngest is year 13, taking a year off then Uni the year after that. Dh and I are 57 and 55.

We've been thinking a lot about our quality of life. He's a nurse and has never been happier since he went freelance. I'm a teacher (30 years in) and am ready for a change. Job at local Uni beckons which is 0.5 and I can get freelance/supply work in the other hours. We've discussed downsizing in a few years when the girls are gone, de-cluttering, etc. and travelling more.

EXCEPT.... when perusing idly on Rightmove last week I spotted our 'ideal' downsizing house. 3 bed, open plan bungalow, same area but a bit further into the country and best of all has a wonderful view, which I have always hankered after. The view bit is a real deal-breaker for me as I feel so relaxed and happy when I have a view, so I always promised myself I'd have one, one day. Not many properties like this come up in our area. It's been completed refurbed and is gorgeous. But obviously has much less space and fewer nooks and crannies for the kids to escape/ folk to have their own space to watch different TV/ study etc. Bedrooms are smaller than we have here. We've even talking about eldest moving back for a year next year with her bf while she does a post-grad. Our present house is ideal for this - although it wouldn't be impossible in the bungalow. Youngest would NOT like to move but she's only here for another 18 months.

Just had our present house valued too and we'd be able to pay mortgage off too if we had this other house. We would not be considering it at all if we (I) hadn't seen this particular house - it's pretty unique. ARGH. I'm going to view it later. Almost hope it puts me off so I don't have a decision to make. But if it's suitable - would you downsize a bit earlier than planned?

Yes, I would.

I used to live in a house with a breath taking view. Every day was like a holiday. We seldom watched television in the evening as long as it was light, it was better watching the birds ( and the occasional beaver).

I still miss it.

Very rarely in life do things line up without some kind of compromise.

Do whatever is best for you. If this is the perfect place, then go for it.

If you came to downsize in two years and couldn't find anything, you'd regret missing this opportunity. You also never know what will happen in the market. If you can go mortgage free now - then do it!

Do it

Life is too short

Yep, I'd move. Same age as you and have seen too many people leave it too late.

I would grab it with both hands.

I would!

No mortgage to pay. Think of the money you’ll be saving in interest with the current rates.

I have a bungalow and love one level living.

The only question is, does it have 2 bathrooms? Or potential for more than 1 bathroom?
The one bathroom/toilet (same room) is a getting more of an issue as my daughter gets older.

Actually, another to consider for extra space for the kids is an annex or some kind of outbuilding.

We moved into a small 1960's bungalow from a large property. The bungalow itself was awful - old fashioned and cramped but as soon as we saw the agent's details we went to view and decided immediately to buy it. Yes, there isn't the space but we made use of the extensive loft space and now we've made full use of that it's fine. We weren't of an age where we wanted to buy a retirement property but this was so well positioned we couldn't risk letting it go.

We completely transformed the building so it's modern and open plan with huge windows/bi-fold doors to make the most of the beautiful countryside views.

I'd say do it, BUT I wouldn't totally believe the EA on what they think the value of your house is. A lot of them are absolute lying toe rags who will tell you what you want to hear to get your business.

It has an ensuite and a family bathroom. Agree would be nuts with only one.

Am I viewing your house today...?!

I would.

Martin Lewis says in hushed money saving advice that people often leave it too late to downsize.

I don't know it's a tough decision.

Yes I would definitely consider it. I love a stunning view too and the thought of being completely mortgage free must be very tempting.

An ensuite is perfect! Good luck with the viewing

@BobLobla HaHa! 😁

No, it's not for sale. I hope you find you like the property you're due to see later. Having a view really is great. We never tire of looking out on it as it changes so much during the course of the year.

I forgot to add that we're mortgage free as a result of moving to... another plus point!

Good luck!

Do it. Your child-rearing days are almost behind you and it's time to think about your future.

We moved when our daughter was entering her last year of school she didn’t want to, it was an upsize to be transparent, but meant she’d need to be driven everywhere, due to no close public transport. We realised she’d a year left at home, and promised to do the driving, which we did, and it was fine.

its a short period. She will be fine and your other daughter and her boyfriend can still move in if 3 bedrooms.

Ooh, tricky one. Your mistake was to "idly peruse RightMove"....no good can come of that. 😁

We are in the same boat, and the same age....DS moved out and is "off the payroll", DD1 should be starting a grad scheme in the summer so likely to move out, and DD2 is rarely home from uni. I feel it's just a couple of years too soon for us, though, as we have aging parents to worry about, so there may be an impact from that. So I'm staying well away from RightMove!

I'd give it a try but don't get too attached to the idea. If your house isn't even on the market, you don't have much chance of having an offer accepted.

Personally, I think if your youngest has A levels in the summer it’s unfair to put her through a house move but you could try for delayed completion.

Either way, are you ready to list your own house immediately? You’re not in a proceedable position yet.

It's unlikely to happen if you haven't sold your own house yet. Or even put it on the market.

But there's nothing to stop you trying. if it does all work out, make sure your Yr13 DD has as little disruption as possible

Realistically if your offer was accepted it could take up to 6 months for the house move to go through, and you can always set your completion date for after her exams (Even when I was a cash buyer with no chain it took nearly 3 months)

Will your youngest stay at home for her year out or be off travelling before Uni?

Yes not ideal for eldest, but it would still be possible and they may change their minds about where to do post-grad studies....

You could end up on your own in your current house by summer, paying a mortgageon a house thats bigger than you need...regretting letting the perfect house slip away...

Go view so you know if it all it seems.

Well it can go either way: drag on and on, or good cash offer soon after listing. Both can cause problems.

It's SO hard to find the right property to downsize to. Do not wait until you HAVE to (speaking from bitter experience).

I see it's implied that there is already a loft conversion...
Is there space/planning for a garden room? Could that be an option for another nook/cranny place?

Sounds ideal for you and your DH. Seriously, go for it!