DOWNSIZING PROS & CONS
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.