top of page
  • Writer's pictureSarah Ruivivar

Moving Hassle Halts Downsizing: A UK Homeowners' Dilemma

📸 ModelProp / Midjourney

The daunting cost and time-consuming nature of moving houses are discouraging older homeowners from downsizing, according to a recent survey by Home Sale Pack, an upfront information service.


The survey, which involved 1,023 recent sellers, aimed to understand their experience and its impact on their future selling plans.


The results were rather revealing, with a whopping 75% of sellers describing their experience as difficult, lengthy, and fraught with unexpected challenges. When asked about the most challenging part of selling their home, almost half (47%) pointed to conveyancing. The physical act of moving home came in second, as cited by 21% of respondents.


The moving process was so off-putting that 44% of sellers admitted it would likely deter them from moving again. More specifically, over a third (36%) said they would be discouraged from downsizing later in life.


 

Want to learn more about AI's impact on the world in general and property in particular? Join us on our next Webinar! Click here to register

 

Ruth Beeton, co-founder of Home Sale Pack, expressed her concerns about these findings. She emphasised that the UK property market heavily relies on the lifecycles of homeownership. As first-time buyers climb the property ladder into larger family homes, empty nesters are expected to downsize to smaller properties, thereby freeing up much-needed housing stock.


However, with the selling process failing to keep pace with the rapidly changing housing market, many homeowners now prefer to stay put rather than face the daunting task of moving. While conveyancing isn't the sole cause of this reluctance, it is certainly a significant factor. Beeton expressed her astonishment at the resistance to change within the conveyancing sector, despite these glaring issues.


In conclusion, the survey highlights a pressing need for a more streamlined and less stressful moving process, particularly for older homeowners considering downsizing.



 

Want to learn more about AI's impact on the world in general and property in particular? Join us on our next Webinar! Click here to register

 



Made with TRUST_AI - see the Charter: https://www.modelprop.co.uk/trust-ai

6 views0 comments

Recent Posts

See All

Comentarios


bottom of page