DOWN­SIZ­ING PROS & CONS

Good Housekeeping (UK) - - Gh Spotlight -

Down­siz­ing is an ob­vi­ous way to help fund re­tire­ment. Liv­ing in a smaller house can be eas­ier and cheaper to main­tain. It’s a chance to pass on money to your chil­dren and see them en­joy it.

It can be an emo­tional wrench to leave the fam­ily home. A short­age of smaller prop­er­ties means you may pay more than you ex­pect for your new home. Le­gal costs, Stamp Duty and the ac­tual cost of mov­ing will all eat into your profit.

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