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mortgage free-downsizing dilema

I'm separated from my husband and live with my 2 children in the family home. The mortgage had been paid so am mortgage free-yay! However I would like to downsize from this 5 bed detached property. We paid £305995 for it in May 2007. I want to stay in the same area but unsure if I could remain mortgage free?? Reason for downsizing? Less rooms to clean and less money spent on bills = more time and money for my children

Comments

  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    So look around and see what properties are available...
  • Alchemilla
    Alchemilla Posts: 6,276 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Look it up on zoopla and mouseprice to get an idea of its value now?

    Remember to factor in moving costs and solicitor and stamp duty.

    Sounds like a plan.x
  • Goldiegirl
    Goldiegirl Posts: 8,821 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Rampant Recycler
    When you sell the current house, will part of the proceeds go to your husband? if so, you'd need to include that in your calculations
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
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