What does 'Upsizing' mean when buying a property?

Find out what Upsizing means when you are buying a property. 'What does Upsizing mean?' plus over 150 other property related terms and jargon in plain English

Upsizing

There are a zillion reasons why someone might be buying a property. It could be a buy-to-let investment, it could be to get on the property ladder, it could be because they need to move to a different location.

But if they own a property and are looking to sell it and buy somewhere larger this is known as "Upsizing" or "Trading Up".

Common motivations would be:

Couples moving in together - and using their joint income to buy something larger than they could afford individually.
Couples starting a family - and so needing more space for the kids.
People looking to start working from home - and so needing office or studio space.

Someone who is Upsizing will have a Trading Gap - the difference between the value of their current property and that of the larger one.

The concept of the Trading Gap is an important one because it explains why Upsizing is such a good idea in a falling market. You are selling your £175,000 2 bed house to buy a £250,000 4 bed house. This gives you a trading gap of £75,000.

If the market has fallen 10% then your two bed house has lost £17,500 of its value but the 4 bed house is down £25,000 so you'll actually save £7,500!

Incredibly a lot of buyers don't see this and in a market where they feel their property value has fallen they want to wait for price to bounce back so they can get as much as possible without realizing that, ultimately, they will lose out.

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What's in the 2022 edition .....

Why buying property is right for some and wrong for others;
The state of the market today;
What Brexit and Covid 19 means to the future of UK property;
How the media have become unreliable indicators of the market;
Who makes good quality predictions for the property market (and who doesn't);
How the market works over the short term and the long term;
The difference between property bubbles and property booms;
Why it can be a good idea to buy when prices are falling;
The principles of buying a property to let and what the text books don't tell you;
Ways to get on the property ladder when it looks impossible;
How professional buyers and investors work with estate agents to get better deals;
Why you should see as many Financial Advisors as possible;
What to do before you start viewing so you don't lose your dream home;
Who the surveyor, solicitor and estate agent are really working for;
How to make an offer to get things your way;
Who to trust and who, with the best intentions, may be misleading you;
Why you should work to minimise the time between offer agreed and exchange;
Making sense of a property survey including:
- What type of survey to get and why structural surveys can be money wasted;
- Why surveyors should never estimate the cost of works;
- When rising damp, penetrating damp, subsidence, cracking, sagging roofs, bulging walls and all the other frightening things in a surveyor's report might be serious, and when they are not;
- Why asking the vendor to carry out work is not always a good idea.
Step by step guides explaining what should be happening, what can happen, and how to solve mole hills before they become mountains;
Over 140 terms in an easy to use glossary so the jargon of the property industry can be understood;
20 true stories of successes, and disasters, that real people experienced when buying a property.

.... and what's not in the book ...

Continuous commentary banging on about how great property is and that it is the only place to put your money!
Recommending businesses that I get kickbacks from.
Rewording and republishing what is available freely from most websites anyway.
Endless tales of how easy it is to buy property and profit.
Attempts to sell you some course or other product.
Blank pages and spaced out text to make the book seem bigger.