One Last Blow Out

It’s that time of year again. It’s Shrove Tuesday next week, perhaps more commonly known these days as Pancake Day and traditionally it and Mardigras festivals around the world mark one last blow out before Lent and a period of abstinence and sacrifice. Of course, these days the sacrifices tend to be notional such as giving up chocolate and/or wine depending on just how much will power one possesses. In any event both the penitential and the dietary benefits tend to be short lived and are quickly reversed by a post-Lent Easter egg mega-binge!

Moving home itself can often be about having to make small sacrifices and perhaps letting go of somethings on your wish list. Whether you’re upsizing to accommodate a growing family, downsizing as an empty nester, or moving location for reasons of work, it makes sense to decide at the beginning of the process where you might compromise, what you’re prepared to give up and where to draw the red lines.

Lessons Learned

As one of the busiest estate agency and conveyancing practices in Fife, we calculate that we’ve helped clients in around 10,000 combined purchases and sales in the last couple of decades. It’s an incredible number and of course each one has been a privilege. They have also been a learning experience as they have each given a valuable insight into what’s worth compromising on and what simply isn’t. One might say that these many thousands of transactions have bestowed upon us a sixth sense, a gut instinct that tells us when a move will work and when, sooner rather than later, we’ll be needed again when clients realise their move was a mis-step.

So, to help you avoid costly mistakes and avoidable expense, we wanted to share some of the things we’ve learned, the basic rules to apply to your next move and through which to filter the inevitable compromises you’ll need to make. Of course, each and every client and every move is different, predicated upon different circumstances and different motivations but as a generalisation we think the following should help you avoid those costly mistakes.

Family First

1. Don’t give up your family. Unless unavoidable such as relocating for work or for a complete lifestyle makeover, moving far away from your nearest and dearest when it’s not essential is rarely a good idea. Far-flung families can mean a loss of vital support systems. If mum and dad help with childcare, even only in extremis, what is the alternative if one of the kids is sick and needs a day off school? If today that means a quick call to mum or dad and it’s sorted what might that look like if they are 50+ miles away? If it simply isn’t practical to live close by, then factor in ease of travel when choosing a location.
2. Don’t give up on good schools for existing or future children. Plan well ahead, not just for immediate education requirements, but up to the end of secondary school. If circumstances dictate a move to a different catchment area be cautious and do your homework (pun intended!) as an area not blessed with great schools could quickly turn your dream move into a nightmare. The better compromise based upon our experience would be to opt for a less optimal property but better schools. Ofsted reports are of course an essential source of reference here.
3. Related to the previous point, don’t give up on your dream location too soon. It’s tempting to buy more house for less money in a less prime area but always follow the advice in the age-old adage that counsels “Buy the worst house in the best street and never the best house in the worst street.” You can improve and/or extend a home that is tired and sub-optimal, but you can’t improve a whole street or its reputation. Much has changed in my forty years in property but that old chestnut “Location, location, location” isn’t one of them. So as per the previous point don’t be too quick to give up on your preferred area but instead be patient and consider properties to which you could add value.
4. There are numerous good reasons to downsize, but giving up a house that has been a home for decades is hard enough without making unnecessary sacrifices. Don’t give up anything that is going to detrimentally affect your relationship with your cohabitees be they spouses, partners or children. Prime examples include hobby spaces, second bathrooms and home offices – facilities that allow people their own space and can make relationships less fraught and more harmonious. If the home to which you are considering moving means the loss of any of these and they are still needed, then think again.
5. If you’re green-fingered, enjoy the outdoors, the sun on your face and are still able to manage gardening don’t give up on a garden. Too often we have seen recent retirees succumb to the well-intentioned advice of their children that they ought not “at their age” to have to contend with a garden. In reality the opposite was true and the parents have been more than capable of doing so and having more time on their hands in retirement, a garden is in fact still very much an asset in their lives. Think carefully therefore before foregoing outside space and radically altering your lifestyle by going from a house to a flat. Compromise perhaps on the size of the garden but think carefully before dispensing with it entirely.

Downsize your home not your life.

6. If you’ve left downsizing to a litter later in life, don’t give up your community without a great deal of thought. It tends to be more challenging to form strong friendships later in life, so don’t underestimate the value of your local community, the people, your friends, family and support network. If a motivator is being closer to family to provide support now or in the future, weigh up the benefits against the potential negatives of the loss of your current social contacts. Might home helps and other forms of assistance and adaptations to your home be a better move than an actual move?
7. Whilst it may seem to fly in the face of our foregoing advice we do recommend giving up an enormous family house that has become an empty nest and perhaps also a financial drain sooner rather than later. Do it early enough to make the most of the benefits of downsizing such as the released equity, fewer maintenance responsibilities and costs. Imagine being able to just lock up and leave as you head off on holiday to spend some of that newly found nest egg?
8. When downsizing in later life and you know that it’s then right time to do for physical and/or financial reasons, concentrate on layout and what will work as the years progress and you become perhaps a little less mobile. It’s a mistake to try to recreate exactly what you had on a smaller scale. It’s the time of life where it is perfectly acceptable to be a little more selfish about your property choices now that you don’t need to consider the needs and preferences of children. Don’t think you have to buy a bungalow. Not only are they relatively scarce and relatively expensive they may not be what you want. Instead look at a villa that offers the option of single storey living later in life where there’s a downstairs bathroom and maybe a second public room which could become a bedroom?

Don’t forget to treat yourself.

9. Don’t give up on the thing you’ve always wanted – whether that’s an Aga, a (wo)man cave, an open plan kitchen, a south-facing garden, off-street parking, a utility room, or anything else. Moving house is hard work, and there are often sacrifices to be made, so make sure you give yourself a treat. You may have to look a bit harder to find the right house, or make some modifications, but do try to factor in at least one item that’s at the top of your ‘want’ rather than ‘need’ list.

Keep these tips in mind and hopefully your move won’t be one you later regret. If you would like advice on any aspect of moving be that practical or simply an opinion on a home or area to which you are considering a move please just give us a call.