What to do if you’re considering the idea of downsizing, buy or rent?

Once the children have flown the nest, there is lots to consider and think about. One thing that is quite often at the top of the agenda is downsizing. SA Law Solicitor Priya Lakhani examines the pros and cons of buying a new home versus renting.

Regardless of what stage in life you are considering moving home, whether you're a first time buyer or a seasoned-mover; it is a daunting process and there is constant debate over whether buying or renting is the best thing to do. One thing is for sure, when you’re considering downsizing there are several advantages and disadvantages for both.

Priya Lakhani explores the options and the key considerations for downsizing your property including:

  • Buying a smaller property
  • Purchasing a flat
  • Taking out a mortgage
  • Renting
  • Inheritance tax
  • Staying put

Click here to find out which option might be best suited to you and your lifestyle needs and wants.

CONTACT PRIYA

If you would like more information or advice relating to this article or a property law matter, please do not hesitate to contact Priya Lakhani on 01727 798056.

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Every care is taken in the preparation of our articles. However, no responsibility can be accepted to any person who acts on the basis of information contained in them alone. You are recommended to obtain specific advice in respect of individual cases.