Downsizers in the south east are likely to end up with a nest egg of about £466,750 if they sell their four-bedroom family house and move to a two bedroom apartment, according to a recent study. 

Homeowners in the same situation in London can free up equity of £815,000.

Antony Gibson, director of Romans, the agency with branches in Gerrards Cross and Beaconsfield, knows that many empty nesters are reluctant to downsize.

He accepts: “Some have emotional attachments to their family home, others view it as downgrading and perhaps a sign they are struggling while some are put off by the hassle and upheaval of moving but they often change their minds when they realise just how much equity is tied up in their home or how much flexibility and freedom it can provide.

“Downsizers are usually surprised by just how much their property has increased in value,” says the agent. 

“Many properties in the region are historically making more in terms of capital growth than the average wage.”

Having gone over the sums with countless over-50s he believes there are three main advantages that can persuade reluctant downsizers to reconsider:

*Moving somewhere smaller can be a chance to upgrade
Says the agent: “When it comes to property, it’s a common misconception that bigger is always better. 
“Particularly for those who have been in their property a long time, moving to a new home provides an excellent opportunity to upgrade. 
“Just because your new home is smaller doesn’t mean it has to decline in luxury. 
“A chic modern apartment with latest technologies can make your life simpler. 
“Don’t just think because you are downsizing you are downgrading the quality of your property and your surroundings. You could move to a charming cottage.”

* Some of the profit from downsizing can be used to fulfil a lifelong dream
If you have lived in your property for a significant time, it’s likely you will have a considerable amount of equity, some of which can be used to go on a holiday of a lifetime or to help the younger generation of the family get a foot on the property ladder.

*Less space means fewer chores, lower fuel bills and more spare time
With fewer rooms, smaller garden and one garage rather than two, it’s surprising how much time and money you will save. Your heating bills will be less and so will your insurance. 

If you move to an apartment in a managed complex, the service charge will cover the maintenance of the building and grounds, leaving you more time to enjoy yourself knowing that near neighbours or the concierge will keep an eye on your property when you are not there.