WHY DOWNSIZING TO AN APARTMENT IN LICHFIELD ADDS UP

Downsizing isn’t just about the size of home you live in, it’s about quality of living and with a move to a new apartment in Lichfield buyers can enjoy financial freedom while future-proofing their lifestyle. The vast majority of enquiries received by Elan Homes about apartments at Lorne House have been from people thinking about downsizing. In most cases they have a house to sell, and some are yet to put their existing property on the market.

Elan call help homeowners sell up via its EasyMove service and can also recommend professionals to help with the formalities of moving.

Conor Brown, director of Xact Mortgages, said: “Financial freedom is a core reason for people to consider downsizing. That could be to release equity to boost savings for retirement, perhaps help adult children with a deposit for a home of their own or to reduce the cost of living. The average person going from a standard older house to a new build would save around £2,000 annually across their household bills, including heating, hot water and lighting and that’s before mortgage repayments, council tax or home insurance. If they’re downsizing from a house to an apartment, the savings are likely to be higher.

“The typical spectrum of downsizers tends to be 60 to 65 but move sooner and you can enjoy the benefits sooner. We can guide homeowners through their options in terms of financing a move. Some people opt to port their mortgage from their previous house to their new apartment and put the money from the proceeds of the sale of their old home in a high interest savings account. We can do a like for like port and they can keep the cash in the bank, so they don’t have to pay fees after the fixed term. Lots more lenders are now offering green mortgages on properties with an Energy Performance Certificate rating of A or B. These tend to offer better rates and the applicant could receive cash back too.”

Two-bedroom apartments, just a short walk from Lichfield city centre, are currently available from £385,000.

They’ve been designed to maximise the potential of the space. In apartments three and five, on one side of the building, there’s an open plan kitchen, dining and living room. Apartments four and six, on the opposite side of the building, there’s a broken plan layout, with the combined living and dining room leading through to the kitchen.

The main bedroom in every apartment has an en-suite, to complement the main bathroom.

Elan regional sales director Tracey Ball said: “Downsizing your home offers the chance to upgrade your lifestyle. Lorne House offers characterful, modern apartments with a high specification for low-maintenance living. Instead of spending time and money managing and maintaining a home that’s too large for your needs, you can relax and take time doing things you enjoy. The upper floor apartments can be accessed via a lift or central staircase, making them easily accessible, helping future proof for later life. If the children have grown up and moved out, or perhaps are heading off to university this autumn, perhaps it’s time to reflect on your own housing needs and if it’s time to move to somewhere more manageable both financially and practically.

“The ease of living could even start before moving day with our EasyMove scheme. We’ll value your current home and instruct independent estate agents to market it. When an acceptable offer is received, you can reserve their new apartment from us, and we’ll pay the agent’s fees.”

Elan’s apartments in Lichfield are within a short walk of the stores, coffee shops, restaurants and entertainment venues such as The Garrick Theatre in Lichfield city centre.

For more information about the development and arrange to view the apartments see https://www.elan-homes.co.uk/developments/lorne-house-the-sidings.