People also say they are going to use their Residential home as a pension, look at the facts how long is that going to last ... ?
Say your property is worth £300k is 3 bed semi detached in a nice area, you've lived here 20 yrs ad loved it.
Are you going to want to move out of that area? Most likely no, you know he area you like it, your friends are there so you'll probably stay in the area.
You had a nice house so now you want to downsize and get a smaller flat, say 2 bed, that's still going to cost you £175 -200k.
This. It's frightening how many people I know who think their family home is going to produce a significant income. Only going to work if they sell up in leafy suburbia and move into a 1 bed flat on a sink estate.
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