Are we mad to sell up our lovely home?

[hearthat]

We have a large 4 bed semi, 3 double beds, one single. Huge kitchen, loads of storage, 2 large reception rooms, flat south facing garden etc. We’ve been here 27 years and brought our children up here very happily.

Children have now flown the nest and realistically the house will be a bit big for just me and DH. It’s 50 years old so we are looking at the possibility of a new roof which we have had quotes for around £13k. The gardens could do with new fencing and block boundary walls built etc - all a lot of work for a house that will be a bit big.

House has been valued for £325k. I will not downsize for less than a 3 bed and ideally that would need to be detached.

We would like something newer built, smaller and a bit more cosy / warmer in the winter. Newer Houses near us and nearer to shops etc are around £315k for 3 bed detached. So by the time we sell and pay fees we are no better off financially - effectively swapping to a smaller house for no gain.

I worry about fitting in our furniture- one house we saw that was 14 years old you could barely fit chests of drawers in by the time the beds were in. It was on for £310k and it was a semi. Higher prices as it had a garage (ours doesn’t) and it’s round the corner from shops and a nice pub etc.

So conflicted about whether we are doing the right thing. I’d like to be closer to amenities but it feels like we are making a financially silly decision to have a smaller house for no financial gain.

Has anyone done the same later in life? How did it work out?

I'm sure that @hearthat is perfectly capable of avoiding selling for a poor price, but if she has a great house that shouldn't be a problem. She might get a property now that would be too expensive in normal times. She said that "her children have flown the nest" and can make up her own mind about how many bedrooms she needs.

No, I agree that you wouldn't move if you couldn't find the property you want that is within commuting distance of your work if you intend to continue working, nor if you couldn't find a suitable property for your pets.
For some of us the benefits of living in an easily managed property outweigh the disadvantages you perceive. We found it easier to downsize twice as our requirements changed, downsizing for the first time when I was 54, once our children were independent.

Another one for staying where you are, we have a large house, totally pointless and a huge waste of money for us to move to a smaller version while we are in our mid fifties as we still need to work, plus we currently like having a large house to “rattle around in” we will move when we retire and then more than likely will buy a fabulous sea front apartment in a new location, the one I have earmarked will cost more than our house so the savings by not moving to an interim property will pay for the difference, looking forward to it already!

you are absolutely right that its about quality of life but this means different things to different people. I have no wish to travel and love my garden. My spare rooms don't get damp even though the heating is not turned on in them and upkeep is limited to the occasional cobweb chase.

I think you should either stay put or properly downsize - doing this in between thing is just a waste of money as youll spend loads on stamp duty and new furnitures and then just have to do it again. We are in a 4 bedroom now but our kids are 9/13. When they’re flown we intend to sell and get a 2 bed flat (by the sea would be my fantasy plan!)

That's the conclusion I came to.....except I don't want a flat so am staying put.

We went on the market a couple of weeks ago after having had a nightmare with next door, I think 6 days a week building work from 8am and sometimes earlier has sent us all a bit over the edge and we have lost the plot. Reason given to agents is downsize but really we would like to be detached and mortgage free. We have a DD who will be with us for the foreseeable future.

We were due to have a viewing this week from someone who cancelled on the day but had asked our situation so thought we had better start looking and are struggling. So much needs a lot of work . Everything feels small and whereas at the moment DD being here is fine as we have the space to have privacy I can’t imagine that in the couple we have looked at.

I lost my mobility a couple of years ago and needed 2 sticks at my worst but the house was great. Night of my hip replacement I was home and in bed upstairs on 1st floor . En-suite with walk in shower and taller toilet was a godsend. Previous owner didn’t downsize.

Moving costs are 26k and by time we factor in what will need doing to any new place it is getting expensive . Renovations next door finished yesterday and we are hoping new neighbours will be quiet. Think we will stick out the rest of contract with estate agent but probably come off the market.

Really haven’t enjoyed the reality of doing this. Our house is lovely, I love the feeling of space . I had a sense of feeling hemmed in viewing one this week. Also ours is big enough that we have had a lodger before which is a useful financial safety net and I worry about losing that as an option . Downsizing is definitely right for some people but not everyone and I think you have to be very cei which camp you fall into.