People hate downsizing out of their huge houses, research shows

first_imgHome » News » Housing Market » People hate downsizing out of their huge houses, research shows previous nextHousing MarketPeople hate downsizing out of their huge houses, research showsEven if they don’t need the space, many owners of large homes are reluctant vendors, says My Home Move.The Negotiator16th August 20170806 Views Large family homes are very hard to leave – 43 per cent of UK homeowners experienced a sense of ‘sadness, grief or loss’ after moving house; while 83 per cent feel emotionally attached to their homes.New research from My Home Move found that 62 per cent of homeowners feel an immediate sense of ‘dread or nervousness’ at the thought of selling their home; a combination most acutely experienced by those aged 45+ (av.65.5 per cent).In comparison those aged 18 – 34 were the most ‘excited or happy’ at the thought of selling.Doug Crawford, CEO of My Home Move said, “There has been talk across the market, regarding the lack of stock and the need for people to downsize to free up family-sized homes. What hasn’t been discussed is the emotional attachment people have to their homes.“These buildings represent much more than bricks and mortar, they are the places where memories are made and hold enormous emotional value.A significant percentage of homeowners, especially regarding ‘downsizers’ have a sense of dread – and would rather stay put than face emotional upheaval.”Homeowners in Scotland and the South East are the most reluctant to sell their property, with both areas showing above national average percentages regarding ‘nervousness or dread’ (69.3 and 63.5 per cent).In comparison, homeowners in Wales are the most excited to sell their homes, within 23 per cent expressing this sentiment, closely followed by those in London, the North West, Northern Ireland and the East Midlands, which all rated over 20 per cent.property attachment downsizer shortage downsizing August 16, 2017The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more