By Alan Cleaver 'The Independent'

Property

Monday, 28 November 2011

DOWNSIZING keeps bubbling to the top of my email Inbox. I suspect it’s seen by some in the property market as another way to kick-start the long wished-for revival. Just think: all those pensioners who put their homes on the market and buy smaller homes instead. Darby and Joan could be the replacement for the missing first-time buyers.

It is also at the forefront of my mind because the in-laws keep talking about it. They are in their late 70s and live on a housing estate in Cumbria. They like the idea of money being freed up (the coach trips and cream teas have to be paid for somehow) but the immediate concern is more practical. Like many living on housing estates, they’ve seen public transport vanish before their very eyes. Five or six years ago a bus would pass the end of their street four or five times a day. Now they have to walk to the edge of the estate and hope the bus isn’t already full to capacity. And with no bus shelters, it’s no fun in winter weather.

I’ve helped them as much as I can to make the right decision but it’s a complex subject. Age UK (what used to be called Age Concern) has a good leaflet on the subject though you may be tempted to copy me and remove the section entitled “Living with the family” first! It covers everything from renting property to care homes. Renting strikes me as a good option but the in-laws are old school and feel happier still owning property.

They want somewhere close to a town centre so they can ‘pop’ to the shops, doctors or local cafe. The Independent property search engine has a map facility Continued ....

Take retirement easy - and that may mean downsizing to a smaller home.