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Downsizing

1 reply

HettyMeg · 03/08/2022 12:03

My mother is considering selling her large (four bedroom) home to downsize and has heard it is a good time to sell but not to buy. The problem is that smaller properties rarely come up in her area - where she wants to stay - and when they do they sell quickly as it is quite touristy so lots of second homes and Airbnbs. So she's thinking about renting rather than buying another house - is it a good idea economically?

OP posts:
puppyl0ving · 03/08/2022 12:18

I think right now is the best time to downsize from a house to a flat.
but it could depend on the area.
I know at least in London and surrounding Home Counties flats are rock bottom in price at the moment. Whereas houses are very pricey and not coming down, so it could work well for her financially.

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