Savills Portugal

Having been a home owner for years, deciding to become a tenant instead may seem daunting. It may also be a great opportunity.

A number of our clients in this situation are downsizers who are keen to dip their toe in the rental market before committing to their next property purchase.

There comes a time when it makes sense to move somewhere smaller, perhaps because of time spent abroad or because it’s a relief not to have to worry about the upkeep of a large family home. However, this can leave people feeling unsure about how they would cope with having less space. This is where renting can offer so many benefits as it allows you to try before you buy.

Downsizing is a big decision and renting can give potential buyers the chance to find out how much room they really do need, both inside and out; very often they look at the saving in stamp duty as covering the rent. Also having someone on hand to deal with maintenance issues is often seen as a real plus.

Moving into a rental property may also allow downsizers to widen their search area, enabling them to live in a property that they would not have been able to afford on the sales market.

Research from The Centre for Aging Better reports that there are now 414,000 older people privately renting, a jump from 254,000 in 2007 – supporting estimates suggest that by 2040 a third of those aged over 60 could be living in private rented accommodation.

The following properties are all suitable candidates for those looking for an interim home through the downsizing process.