Financial downsizing benefits
There are many financial benefits that make downsizing home an attractive option.
It can give you the chance to free-up some of the capital tied up in your existing home.
This presents a great way to boost your income, or to help members of your family, for example with getting on the housing ladder, a new baby, or university fees.
Some downsizers decide to reinvest this extra cash for future use, or alternatively, spend it on improving their lifestyle.
And lower bills and less household maintenance mean that your money goes a lot further. You’ll be surprised how much cheaper it can be to live in a well-built or ingeniously-converted, energy-friendly new home.
Research commissioned by Hanover (Sizing up the situation: the advantages of downsizing) shows residents can also enjoy significant savings on utilities and insurance costs. Everyone is different, but the research indicates that downsizers can save between £1,500 and £5,750 by moving from a typical three-bedroom house to a carefully-designed Hanover Downsizer Home.
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