Downsizing means moving to a smaller home often after family have moved out to become more independent or it might be your needs have changed or ability to look after the property.

It can look like an instant win: less cleaning, fewer repairs and perhaps lower monthly costs.

But the cheaper-looking move can become an expensive shuffle if you sell too quickly, underestimate the fees or discover your new home does not work for everyday life.

Before you book a valuation, write down what you actually need from the next home.

Think about an ordinary Tuesday morning.

How many bedrooms are used? Do you need a downstairs loo, level access, parking, a manageable garden or space for visiting family?

A flat may remove the stairs and mowing, but it can bring service charges, regular payments for shared services and upkeep, repairs to shared parts of the building and less storage.

Then compare the whole cost, not just the asking prices.

 Set out the likely selling and buying costs, conveyancing, the legal work of buying and selling; changes to the mortgage or the money left after repaying it, removals, storage, clearance and any work needed in the new place.

Peterborough City Council's information on council tax and local services is a sensible place to check the council-tax side of the calculation.

Do not assume a smaller property automatically means a dramatically smaller bill.

The same rule applies to belongings: do not pay to move things you already know you will not use.

Sort gradually, room by room, and decide what is going with you before you start viewing homes.

 Downsizing advice from people who have done it often comes back to this simple point: measure the furniture and storage you rely on, rather than guessing from floor area.

Check how easily you could move around and use the home, even if nobody in the household needs help today.

Think about steps, bathrooms, door widths, parking and how easy the home would be to manage after an injury or a change in mobility.

A property that needs expensive alterations can wipe out the saving from moving.

Finally, compare downsizing with staying put.

Could a clear-out, a reconfigured room, a stair rail or better storage solve the problem for less?

Trying a smaller rental before selling may help you judge the layout, if you can afford the overlapping costs.

Compare your current home with two or three realistic Peterborough alternatives, using total monthly and one-off costs.

 If the saving only exists on the listing page, it is not much of a saving.

If you have downsized locally, tell us which cost or compromise caught you out.

Do This First

List the space and access you need, check monthly and one-off costs, and measure furniture before committing. Compare a move with changes that could make the current home easier to manage.