Downsizing could save you £££s!
Talk of ‘Bedroom Tax’ seems to be yesterday’s chip paper these days as welfare reform moves forward and Universal Credit is hogging the limelight, but is still very much applied to those who are over accommodated and still causing households financial hardship.
It can be difficult to think of leaving a place you have made a home, but it can also be a really positive experience and a chance for change!
- Chance to clear out and get organised – there’s nothing like a good clear out and you could also make some money selling things you no longer need or use. There are loads of websites including Gumtree and Facebook where you can advertise your items for free.
- A smaller space is more manageable – A large property can be a chore to clean and maintain, especially if you are not using some rooms on a daily basis. By reducing the time spent on household tasks you also leave more hours in the day to do something else more enjoyable.
- Costs less– Gas and Electricity is expensive and a larger property will cost you more to heat which can put a strain on your finances in the winter months. It also can cost more to cool in the summer too! Reducing energy is better for the environment and helps to keep your home green.
- Chance to relocate – If children have moved on or you are isolated downsizing gives you the perfect opportunity to move closer to friends and family
- Reduced consumption: If there is no place to put it, you’re much less likely to buy it. That means you may acquire less clothing, food, and consumer goods.
- Positive impact on Housing- There are hundreds of people homeless in Gloucestershire alongside multiple households in need of a family home. Freeing up a larger property for families can feel great knowing that you may be offering children the space to grow and be comfortable.
There could also be some financial assistance available through GCH to help you move, get in touch to find out more and see if you qualify for this.
If this isn’t quite inspiring you, there are some solutions to help you stay in your home and benefit from some savings
- Get a benefit check – The Tenancy Sustainment Team can give you a benefit check to see if there is anything else you can claim to help support you with the reductions in your housing costs. There may be some temporary funding available to cover the shortfall whilst you seek help too.
- Get a lodger – Lodgers are a great way to cut costs of rent and utility bills. For single people they can help reduce loneliness and save money too. You can advertise your room online for free quickly and easily through sites like Spareroom and Airbnb, just give us a ring and check your tenancy agreement allows this.
- Find work – Getting back into work is a great way not only to increase your income but to get out, be social and introduce a routine – if you would like to find out how you can be better off we have a great benefit and budgeting calculator and our Tenancy Sustainment Team can give you a better-off calculation. If you need help finding employment, please see our Shine Employment & Training Support page
Rent is important, as the rent payments we receive fund the vital services we deliver to our customers, including repairs, home improvements and support for your communities. This is why it’s so important that your rent is paid regularly and on time and that it is the first payment you make when budgeting your money and paying your bills.