Irish households could – at least, theoretically – release a combined €16bn in home equity through downsizing, a report by Davy estimated last week. Stock image/Getty
Downsizing has become a dirty word. It conjures up stereotypes of older people “rambling around” sprawling suburban homes being “forced” into a bungalow or apartment far from everyone they know, or relegated into a timber cabin at the end of a garden they tended to for decades so their adult kids can take over the family home.
But for those approaching retirement with little to no private pension, freeing up a nest egg by selling their large home and moving into a smaller property is one of the best hacks for financing their retirement. Indeed, Irish households could — at least, theoretically — release a combined €16bn in home equity through downsizing, a report by Davy estimated last week.
source