What have been your experiences of downsizing? Any advice? Tips? Second thoughts?

[HelenHywater]

I've recently seriously been considering downsizing and am actually de-cluttering and tarting up my house for sale.

But I thought it would helpful to get your actual experiences of downsizing. For me the reason is mostly financial - I've stopped working due to burnout and don't want to have to put myself in the same position and require such a high salary. I also have a mortgage (due to divorce) that I'd be paying until I was close to 70.

I also can afford to lose a couple of bedrooms as children have left home. But I still have 2 kids at home full time and another one visiting in uni hols. Also am concerned that I won't find what I'm looking for and/or will regret downsizing (in terms of house size). on the upside if I buy cheap enough, I will be mortgage free.

Have you done this? How did it go? (I'm not elderly yet, so not sure that your parents experiences of moving to a bungalow are quite where I'm at!).

Thanks all.

I realise this thread is a year old, but I'm very cheered by the positive stories. We have our family house on the market currently, and are looking to downsize to a cheaper area, pay off the mortgage and retire. Only one DC currently in residence, and he's only here temporarily, and there's just too much house and garden for our needs now.

Only sticking point is finding a buyer in this dreadful housing market.

We are also in the process of clearing out our 4-bed detached with a view to downsizing in the near future. Would love to hear how everyone is getting on.

Possibly thinking of doing this, going to view a 20 year old 3 bed with drive and garage in a better area, only 2 more stops on the underground and it would give me about 350k to play with after selling up, in a big old 4 bed , always need something doing and even though area has become very druggy, it would sell fast as nothing on market here.

I'd also love to hear how everyone is getting on. One of my DDs is moving into a shared house in January which leaves me with 2 uni kids and one at home full time. So still more time I think for me before I can/will downsize.

@Odeline I think I will do the same as you! It will be strange moving in a flat but it sounds appealing to me getting rid of things and living a more simple existence.

I'd really like to know how old everyone is who is doing this and what stage their children are at. I'm 56 fwiw! Large family with children at different stages - some now in full time work and one still in full time school. I'd really rather not be working full time - but my fault for having my last child at 41, but also stuck with a large mortgage still due to having to buy ex out on divorce.