No one wants to feel forced into selling their home, but there are times in life where downsizing to free up some capital can be beneficial. If, for example, you have unsecured debts which are taking up too much of your monthly income and you want to pay them off more effectively, or if you children have grown up and moved away and you simply have more house than you need.
If you are thinking about downsizing, you may find that the housing market is tilted very much in favour of those in a position to buy at the moment. Restrictions in mortgage lending have put the brakes on growth in the housing market, and although there are signs of improvement, sellers are still finding it hard to shift their properties. … Read the rest