🏡 Is Now the Right Time to Downsize? Could You Unlock Nearly £500,000 in Equity? 💰
New research highlights cash equity release opportunities for those ready to downsize to a smaller home. Is now the right time for you? 🤔
Rightmove's analysis reveals the significant cash-equity release potential for homeowners considering a move to a smaller home. For those with five-bedroom properties who have paid off their mortgages, downsizing could unlock almost £500,000 in cash by moving from a five-bedroom to a three-bedroom house. 💸
When we look at the specific figures for Gravesham, this potential saving is just over £250,000 (£258,820)*. 📊
But downsizing isn’t just about releasing cash. It can also lead to substantial savings on energy bills, which is an important consideration for empty nesters. 🌱 Rightmove’s analysis suggests that moving from a less energy-efficient five-bedroom home with an EPC rating of E to a more energy-efficient three-bedroom home with an EPC rating of C could save homeowners an average of £3,806 per year on energy costs. 💡
In conclusion, while downsizing can be a sensitive issue due to the emotional ties homeowners have to their homes, the benefits shouldn't be overlooked by those ready to consider a move. Not only can you reduce your energy bills, but you can also increase your cash reserves, even after accounting for moving costs. 💼
Interested? 🤩 A property valuation is the first step in helping you decide if this is the right option for you. Reach out to our team to arrange your appointment today! 📞
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*Statistics from Home.co.uk on 16th August 2024