# A Guide to Selling Your Home When Downsizing

## Why Downsize?
Downsizing is about gaining freedom, not giving things up. Whether your children have flown the nest, you're approaching retirement, or you simply want less maintenance and more life — moving to a smaller, more manageable home can be incredibly liberating.

## Planning Your Downsize

### 1. The Financial Benefits
- **Release equity:** The difference between your current home's value and the smaller property's price goes into your pocket
- **Lower running costs:** Smaller property = lower council tax, cheaper to heat, less maintenance
- **Reduced mortgage or mortgage-free:** Many downsizers clear their mortgage entirely
- **Financial security in retirement:** Released equity can supplement pensions

### 2. The Emotional Side
- Leaving a family home — where children grew up, memories were made — is significant
- Allow yourself time to process the decision
- Involve family members in the process
- Focus on what you're gaining: freedom, reduced stress, a fresh start
- Take photos and keepsakes from the family home before you leave

### 3. Decluttering (Start Early!)
- This takes longer than anyone expects. Start months before you list.
- Room by room: keep, donate, sell, recycle, discard
- Sentimental items: photograph them if you can't keep them all
- Furniture: measure your new rooms before assuming furniture will fit
- Services: house clearance companies, charity shops, eBay, Facebook Marketplace

### 4. Choosing Your Next Home
- **Accessibility:** Think about future mobility. Ground-floor living, level access, walk-in shower/wet room.
- **Location:** Closer to family? Near a GP, shops, public transport?
- **Community:** Retirement villages, sheltered housing, and age-restricted developments offer built-in community.
- **Garden:** Smaller, manageable, or communal? A balcony or patio may suit better.
- **Leasehold considerations:** Many flats and retirement properties are leasehold. Check: lease length, ground rent, service charges, management company reputation.

### 5. Stamp Duty When Downsizing
- You'll pay SDLT on the new (cheaper) property at standard rates
- If you're buying AND still own your current home at completion, the 3% surcharge may apply temporarily (reclaimable within 3 years if you sell)
- If you're selling first and then buying, standard rates only

## Key Costs
- SDLT on the new property
- Solicitor fees (both sale and purchase)
- Removals and storage
- Any service charges / ground rent on leasehold properties
- Potential early repayment charge on existing mortgage