Downsizing – things to consider
If you are thinking about moving to a more suitable home and you don’t yet need specialist care, there are various housing options you could consider.
Moving to a smaller property can have a number of advantages. You could:
- release equity, which would give you extra money to live on
- reduce your running costs
- cut down on housework and maintenance
However, there may be some drawbacks:
- moving costs can be expensive
- smaller properties are not necessarily cheaper, depending on the area and type of property
- money left after the sale could affect your entitlement to means-tested benefits
Before you move, consider the following questions:
- Is there enough space for your belongings and your hobbies?
- Will your friends and family be able to visit?
- What are the local facilities and transport links?
For further information Independent Age