Forget downsizing – it’s all about ‘my-sizing’

Traditional ‘downsizers’ are being eclipsed by a new trend in ‘my-sizers’; those moving to a house of similar value driven by a change in location, land, size or style of home.

Downsizing is traditionally defined by moving into a smaller and cheaper property, often motivated by reducing living expenses, retiring or becoming empty-nesters. But rightsizing, or my-sizing, is all about finding the house perfect for your needs, whether larger or smaller.

According to Strutt & Parker’s Housing Futures report, the main reasons for moving home are finances and lifestyle reasons.

“Our findings point towards a new trend in people wishing to right-size, or what we refer to as ‘My-sizing’,” said Stephanie McMahon, Head of Research at Strutt & Parker. “My-sizers are those who are moving home so that they can better suit their evolving needs, both in terms of space and finances. This might not be the usual move to a smaller house with less land – it might be to acquire more land and a smaller house, or less land and a bigger house. Or it could be moving to a similar house in a cheaper location to liquidate capital.”

Jake Civardi at Strutt & Parker’s Winchester office says: “In the Winchester area I have noticed a rise in sellers in an ‘in-between’ life stage, where the older offspring may have left home, and perhaps there has been a job change.

“They are not ready to give up the four bedrooms for the children quite yet, but they no longer need to be close to the top school. These ‘my-sizers’ are often giving up acreage and square footage to be situated closer to amenities.

“Over the last few weeks we have sold some good Winchester houses to buyers moving from the countryside whose aim is to move to a good sized house but with less garden.

“Some of our recent Alfred Homes sales are great examples and we still have a few available which are expected to go the same way.”

Stephanie concludes: “We refer to the current my-sizing phenomenon as the 4Ss: shrinking to share, save and spend.”