The Downsizing Dilemma (and how we’re solving it)

A recent report commissioned by Squirrel Property Finance and conducted by TRA has uncovered a surprising reality in New Zealand's housing market. While 89% of Kiwi homeowners aged over 55 want to downsize, many aren't making the move because they can't find homes that actually provide what they want without the need for major compromises.

The research found that although downsizing better suits many people's current priorities, family needs and stage of life, too many available homes feel lacking. Rather than offering the same quality of living in a smaller footprint, they're often perceived as missing the style, privacy and functionality homeowners expect.

So what does today's downsizer actually want, and how can builders better meet that demand? Read on to find out what the research is telling us, and how Sentinel Homes is helping homeowners downsize their homes without downsizing their expectations.

The Downsizing Mindset

The first thing the report recognises is that the majority of homeowners over 55 understand the positives of downsizing, and see it as the next logical step. Some of the benefits of a smaller home include lower maintenance, less cleaning and gardening, and better affordability. These factors allow people the freedom they desire by providing a "lock up and leave” home that lets them enjoy the next stage of their lives to the fullest.

All this may make downsizing seem like a no-brainer, but the reality is far from simple, with many factors preventing people from making the switch. Along with the emotional attachment most people have to their current family home, smaller homes currently available don’t feel like a step forward. Although these houses might technically align with people’s definition of downsizing, they don’t meet what downsizers are actually looking for in their next home. Those actively considering downsizing described many of the options as restrictive, uninspired, identical, sterile, claustrophobic and lacking in privacy. This means that many of these buyers see downsizing requiring major trade-offs on lifestyle and quality, rather than simply on size alone.

So what are the ‘must-haves’ for those looking at downsizing? According to the report, downsizers are generally looking for a smaller version of what they already have. Their optimal home is single-level, has a garage, two bedrooms, and a spare
room for hobbies or visiting grandkids. Doesn’t seem like too much to ask, but when you start getting out there, homes that meet these criteria are exceptionally hard to find.

Downsize your home, not your life

At Sentinel Homes, we believe downsizing shouldn't mean lowering your expectations. A smaller home should still reflect your lifestyle, personality and the way you want to live.

That’s why when you build with Sentinel Homes, our teams work with you to create a design for your home that not only works for your lifestyle, but reflects your personality and unique style. This is especially true for smaller builds that need that extra level of attention to really stand out. All of our homes focus on architectural individuality, making the best use of the space you have available, and highlighting unique features of your land or layout choices. The results are homes that are far from ‘cookie cutter’, and instead reflect the lives of the people living there.

For many homeowners, especially those who have lived in their current house for a very long time, can find the idea of moving to a smaller place to be quite daunting, with 47% of downsizers in the report worrying about having to get rid of belongings and manage with significantly less storage space. However, this doesn't always have to be the case. At Sentinel Homes, we focus on creating smart spaces over cramped spaces by finding the right balance between plenty of storage options while still giving your homes the spacious, relaxing feeling you want to enjoy every day. Through clever design choices that make better use of the space, your new home could feel big, even with a small footprint.

With all these benefits of building a smaller, smarter home, you may be wondering why more people don’t choose to build off-plan, rather than settling for an existing home or plan, even though that means having to give up on what they actually want. Well, a lot of it comes down to the fear of the unknown, with the report finding that only 9% prefer buying off-plan due to this. However, creating the home you truly want doesn't need to be stressful when you have a proven, experienced team leading the charge. At Sentinel Homes, we’ve built hundreds of smaller homes to an exceptional standard and have won numerous awards for both quality and style along the way. Our process keeps you at the centre of your build, giving you the clarity, control and confidence that your new downsized home will provide everything you need while giving you the freedom to enjoy what's next.

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If you’ve been considering downsizing, have a chat with your local Sentinel Homes team. They can provide some great advice and tips on what options are available and how you can create a smaller home that’s perfect for your next move.

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