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4 months ago
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Property expert Phil Spencer has revealed the perfect places for buyers looking to downsize their home.
Spencer, 54, is known for presenting Channel 4 property shows Location, Location, Location and Love It or List It alongside Kirsty Allsop.
Now, he has offered words of wisdom for those looking to decrease the size of their property.
The presenter added that choosing the manner in which you downsize, as well as where you choose to do so, plays a key role when it comes to your decision-making.
Phil explained: 'How you downsize and where you downsize to is a very personal decision, but you do need to be strategic so you can be sure you are making the most of your money.'
Property show presenter Phil Spencer has revealed his towns of choice for anyone who is looking to downsize their home
Spencer, 54, is known for presenting Channel 4 property shows Location, Location, Location and Love It or List It alongside Kirsty Allsop
Set in 50 acres of rolling countryside north of Chichester, the Weald and Downland Open Air Museum displays a collection of traditional English buildings of historical interest which have been carefully conserved and restored to their original condition.
A view over rooftops to Kingston ridge on the South Downs from the West Tower of Lewes Castle in East Sussex
This locator map shows where Phil Spencer recommends downsizing across the UK
Referencing research by estate agents Hamptons, which identified the 100 best locations to downsize to based on data including the travel time to the nearest town centre and total reported crime, results included popular spots such as Tunbridge Wells, Harrogate, and even Westminster.
However, Phil chose to highlight other areas in his column, pointing to both Tewkesbury and Chichester as ideal downsizing spots.
Highlighting what they all had in common in his opinion, he told the Telegraph: 'These new developments, targeted at downsizers are a far cry from the worn-out image we associate with later life accommodation.
'They offer a community and remove the stress of owning your own home and gardens, but with the privacy that brings.'
Giving other options to those thinking of downsizing in the near future, Phil proposed that Fareham - as well as the Midlands areas of Rutland, Uppingham and Kettering - could also be ideal spots.
Pictured: Chichester canal with a seat designed by Steve Tomlinson and new canal-side housing
A view of Market Cross, Chichester with people shopping in summertime
He also shared a key piece of advice for those wanting to downsize, one that could help them save hundreds of thousands of pounds.
The property guru said: 'Downsizing and then using the money to extend an existing property can be a very efficient use of your money – I have always said it is cheaper to build than buy.
'Whatever you decide to do, tackle it early and think as strategically as possible. It can be scary, but I think downsizing is an exciting opportunity.
'It’s a win-win – you get a property that is better suited to your needs later in life, and hopefully a nice lump sum on top of it to go and enjoy yourself.
'My final bit of advice is: don’t leave it too late. Whenever you decide to downsize, and however you decide to do it, it’s likely to be stressful. Big changes usually are – particularly if they involve property.'
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