Downsizing? How to spend your equity

Waterfords, your local estate agent in Camberley, Chobham, Fleet and Yateley have discovered that over 8.1 million owner occupiers in England and Wales now own their homes outright. This constitutes 52% of owner occupiers, rising to over 90% of those aged 65 or more.

Based on sales price data from the Land Registry, downsizing from a 4 or more bedroom home to a 2-bedroom apartment could release, on average, over £250,000. The amount varies by region.
 

While freeing up under-occupied homes would help ease some of the housing stock issues in the market, downsizers will also reduce their ongoing costs and in many cases would be left with a large pot of equity. Such equity could be used to help children onto the housing ladder, to purchase an investment property or a holiday home, take a holiday of a lifetime or boost the pension pot. Independent financial advice should always be sought.
 

What could you spend your equity on?
Here are the 7 most popular reasons why people release equity:
 

• Paying for home and garden improvements
• A second home
• Pay off debts
• Increase disposible income
• Help family financially
• Holidays and travel
• New car

How much is your property worth?

If you are wondering how much your home in the Camberley, Chobham, Fleet or Yateley area is worth then get in touch with Waterfords for a free, no obligation valuation of your home. We’ve been pairing property with people since 1995 and aim to take the stress out of moving for everyone involved. Book your free valuation.

Are you looking for mortgage advice?

We have access to award winning mortgage advice from The Mortgage Bubble and would be delighted to set up a free, no obligation financial advice appointment for you.

Contact Waterfords Estate Agents:

Camberley: 01276 66566

Chobham: 01276 858589

Fleet: 01252 623333

Yateley: 01252 870222

CLICK HERE to email us

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Source: Dataloft, Land Registry, MHCLG, based on sales in last 12 months, ONS, UK Finance