Downsizing can often free up lots of cash

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Home downsizing is moving into a smaller, more manageable home and research from Moneywise suggests that homeowners downsizing from a detached property to a semi-detached could free up on average about £121,686.

John Wetherell, the regional managing director for Reeds Rains says: ‘Downsizing is a topic we are seeing more people come to our branch to talk to us about.

‘Homeowners want to downsize for a variety of reasons.

‘It can reduce their outgoings or provide a solution if their circumstances have changed where a smaller property is better suited for them.

‘There are many people who want to downsize and they are important as they help keep the market moving.

‘When people downsize, they free larger properties for people looking to move their way up the ladder.

‘Reeds Rains invest millions of pounds every year on marketing and advertising homes for sale.

‘For most addresses we already have a list of buyers registered with us who are currently looking in this area.

‘So, as soon as we have completed the property details, we can e-mail and phone potential buyers with the view to achieving a quick sale.’