Downsizing homes is a good credit crunch option

It is a fact that most people looking to move usually want a bigger home due to an expanding family etc.

A lot of people are also still in properties that are too big because the family is broken up or children have moved away. It is probably a lot of inconvenience to be thinking of moving especially for those that have been in a property for a long time which may also hold a lot of family history or sentiment.

[ad#Google 200×200 left]We are in a credit crunch where times for most tenants are a lot harder than many years ago. The financial benefits of downsizing your council or housing association home may never of been more beneficial than these current times.

If you can consider taking a smaller property there are many financial benefits. Some could include if you need to pay them, cheaper council tax, cheaper rent, lower utilities such as electric, heating or even water rates.

Those council tenants wanting to exchange to a new area should also consider the benefits that could come with having a smaller home if possible. Maybe even workout what your yearly savings might be if you see a nice property in the area you want. For most the yearly benefits are probably quite surprising and it could even just be a stepping stone for you until things improve financially.

[ad#Google 200×200 right]Some tenants who just want a change of home in the same area could also contact your local council or housing association. You might find you can get even better financial benefits than the ones we have listed above. Your landlord might have incentive schemes with cash rewards for downsizing your home.

As always we welcome comments on our blog items.

Maybe you have downsized to save money within your own council and can tell others about a great scheme. Have you done an exchange involving a downsize?

We support downsizing for exchanges and have a dedicated forum for these requirements.

Downsize ExchangeForum

6 Comments

  1. Nickyja October 20, 2009
  2. DebK October 20, 2009
  3. Name (required) February 19, 2010
  4. Eclipse April 9, 2010
  5. Sugacane October 28, 2010
  6. Luke February 26, 2013

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