Owners deterred from downsizing by cost and hassle of moving

The cost and time consuming nature of the house moving process is deterring older owners from downsizing, it’s been alleged.

An upfront information service called Home Sale Pack has conducted a survey of 1,023 of recent sellers to understand how they found the process and its impact on their future sales plans. 

The survey reveals that 75% of sellers consider the experience to have been difficult, long, convoluted and riddled with pitfalls. 

When asked what the worst part of selling their home was, almost half (47%) point directly to conveyancing. The next most difficult element was physically moving home, as cited by 21% of respondents.

Overall the moving process was so off-putting that 44% of sellers say it is likely to deter them from moving again. Specifically, well over a third (36%) said that it later life they would be deterred from downsizing. 

Home Sale Pack co-founder Ruth Beeton says: “The UK property market relies heavily on the lifecycles of home ownership which see first-time buyers climb the ladder into larger family homes as the need arises, while those with an empty nest downsize to smaller properties thus freeing up the stock required for those who need it most. 

“However, the process of selling home simply hasn’t evolved at the pace required with a rapidly changing housing market and the experience is now so unsavoury that a large proportion of homeowners would rather stay put than repeat it. 

“While the conveyancing process isn’t the sole cause, it’s certainly the most prominent influence and I continue to be flabbergasted at the reluctance to change from so many of my peers in the conveyancing sector.”