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Downsizing with ease

Moving home at any age is one of life's most stressful activities, and in your retirement, stress is something you'll want to avoid.

Now might be a good time to consider downsizing your home - maybe you have an empty nest and you no longer need the space, or the upkeep! Before making a decision, consider the pros and cons carefully. In particular look at how your running costs will be affected. Weigh up what kind of savings could you make on heating and council tax against whether there would be additional costs in terms of the move itself and redecorating.

Bob and Rose took the decision to move to be near to their family. "The cost of the move itself was quite steep", says Rose, "but we always look for where we can make regular savings, so in the long run it was a wise decision."

A home abroad might now be an option for the first time. Again think carefully before being lured by the promise of year round sunshine. How often could you afford to fly home to see your friends and family? How much do you know about the real cost of buying and living abroad?

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