mortgage free-downsizing dilema 27 July 2014 at 5:27PM in Mortgage-free wannabe 3 replies 843 views

littlemissbewildered

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

ViolaLass

So look around and see what properties are available...

Alchemilla

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

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