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article dwell leeds

Is downsizing a good idea for Leeds residents?

Published: 11/02/2019

Imagine having fewer rooms to clean, cheaper bills topay and spending less on your home each month. There was a time when downsizing was the reserve of older people once their children had flown the nest. However, today people do it for many reasons such as those related to personal finances, priorities and lifestyle choices. But what does this mean in the context of our area*?

Let's start off with the basics - how much cash could you free up? In our area*, the average two bed costs £144,150, three beds cost £180,000 and four beds cost £205,000. In crude terms, this means that each room a homeowner sacrifices could free up around £30,000 - useful if you are thinking about retirement or if your circumstances change.

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