4 things to consider before downsizing

Finding the right property, the stress of moving house and the cost of buying are among the biggest concerns among Which? members planning to downsize in the next five years.

We surveyed almost 1,000 Which? Connect panel members about downsizing. Most weren't planning to move to a smaller home within the next five years, so we analysed the responses of the 123 members who were considering it to understand what's influencing their decision.

Here, Which? explains the potential benefits of downsizing, addresses common concerns, sets out the costs to budget for and provides an update on the UK housing market.

Should you consider downsizing?

For many homeowners, downsizing is about more than simply moving to a smaller property. It can make a home easier to manage, reduce household bills and release money tied up in your property.

Our survey found that easier home upkeep was the most common reason Which? members were considering downsizing, followed by reducing household running costs.

Increasing savings in retirement was the third-most-common motivation. Moving to a smaller home has the potential to unlock a substantial amount of cash for some homeowners. 

Our previous research from 2024 found that in London downsizers moving from a four-bedroom to a two-bedroom home could potentially free up as much as £414,000. In Scotland, the same move could release around £159,000.

Of course, the potential increased savings from downsizing should be weighed against the emotional impact of leaving a home you may have lived in for decades. More than a third of members in our survey said they were hesitant because of emotional attachment to their current home.

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4 things to consider first

Whether downsizing is right for you will depend on your finances, lifestyle and future plans. Here are four questions to ask before making the move.

1. How stressful will you find the process? 

The most common concern among respondents considering downsizing was the stress of moving home.

Long property chains are often a central cause of that stress. If you have the option, accepting an offer from a chain-free buyer, such as a first-time buyer or an investor, may help reduce the risk of delays or your sale falling through at the last minute.

While some of the stress of moving can be unavoidable, planning ahead will help reduce last-minute problems. 

Downsizers in Scotland are likely to have a less stressful move, as the property market works differently than in other parts of the UK. For example, buyers are provided with more information upfront. This is one of the factors that is often cited behind the Scottish system working more smoothly.

Before choosing to downsize, consider whether it is the right moment in your life to potentially go through a stressful process. 

• Find out more: 'It took over my entire year': why the home buying and selling changes are long overdue. 

2. Can you find the right property?

A limited supply of smaller, or accessible, homes in some areas can make downsizing tricky. Our research found that 57% of respondents are worried about whether they would be able to find a suitable home.

This reflects wider research by Age UK, which found many older people struggle to find homes that meet their needs.

As a result, it's important to research the area you’re considering to see if the type of property you're looking for is available and what it might cost.

When choosing a property, think about how it will work for you not just now, but in the future too. Consider the layout, accessibility and whether it can adapt if your needs change.

• Find out more: how to sell your house

3. What are the costs of downsizing?

While downsizing can unlock significant equity, it's important to budget for the costs of moving.

Our survey found that 44% of respondents were concerned about moving costs, while 33% were worried about stamp duty.

The average cost of moving is now almost £18,000, according to research by comparison site Reallymoving. The biggest outlay is typically stamp duty (called Land Transaction Tax in Wales and Land and Buildings Transaction Tax in Scotland). 

To understand how the price of a property impacts the amount of tax owed, check out our stamp duty calculator. 

To get a rough idea of how much stamp duty could set you back, buying a £300,000 home in England or Northern Ireland would mean a £5,000 stamp duty bill. For a £500,000 home, that rises to £15,000. These figures assume you do not own a second home.

Estate agent fees, legal costs, removals and surveys are other charges that will need to be budgeted for when moving house. Even after these costs, many homeowners who’ve cleared their mortgage may still be able to release substantial equity. However, the amount you unlock will depend on where you live. 

• Find out more: the most unexpected moving costs 

4. How buoyant is the housing market? 

Activity in the housing market is lower than a year ago, according to Rightmove's latest House Price Index. The number of sales agreed in the first half of the year was down 6% compared to the same period in 2025. However, it was in line with the first half of 2024.

Rightmove attributes some of the slowdown in housing market activity to higher mortgage rates caused by conflict in the Middle East.

The number of homes for sale remains high. As a result, setting a competitive asking price from the outset is critical to achieving a successful sale, rather than relying on a later price reduction. Rightmove's analysis of homes sold so far in 2026 found that almost three quarters sold without needing a price reduction.

Homes that did not require an asking price reduction spent just 36 days on the market. By comparison, homes that had their asking price reduced spent an average of 127 days on the market. 

• Find out more: what's happening to house prices 

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How to find out how much your home is worth

If you're considering downsizing, you'll probably want to know how much your home is worth before deciding whether to move. There are several quick and easy ways to get a rough idea.

You can use the Land Registry House Price Index to find the average sale price for your type of property in your local area. This data will have a two-month lag, but is still useful in giving a ballpark figure.

Alternately, you could use the online free valuation tools offered by some estate agents and property portals such as, OnTheMarket, Rightmove and Zoopla. Again these are best for a rough idea of value, as the price bands shown can be large (for example, £150,000-£200,000). 

Researching local listings is another quick way of getting an idea of what similar properties in your local market are being marketed for.

For the most accurate valuation, speak to local estate agents. It's a good idea to get quotes from at least three different agents, as some may inflate the value of your home to convince you to pick them to sell your property. 

• Find out more: 5 ways to find out how much your home is worth

The figures in this article are based on a survey of 997 members of the Which? Connect panel. Of the 997 respondents, 123 were considering downsizing in the next five years. Data collection was conducted online in July 2026.