Charlotte Duck

After renovating and flipping properties for three decades, electrician Wayne Smee and his wife Claire decided that rising labour and material costs, regulatory demands, time pressures and the stress of unexpected problems made another major project unappealing. They sold their renovated Maidstone home for £260,000 and moved to a three-bedroom Barratt Homes new-build in Hythe costing £375,000, supported by £18,000 cashback. Smee says the ready-to-move-in property offers more space and convenience, although experts note that renovation can provide greater customisation and avoid some moving costs, while new builds reduce disruption and the risk of renovation overruns.

Retired former car-industry director Mark Meager used £200,000 from the tax-free portion of his final-salary pension to move from a mortgage-free townhouse in Rustington to a £580,000 four-bedroom Redrow home in Angmering, West Sussex. The part-exchange arrangement helped him avoid the delays and failed chains he had previously experienced when selling property. Although his sons encouraged him to downsize, Meager values space, gardening and room for family, and says he would adapt the house if his mobility declined. He is pleased with the move and believes the property has risen in value by 10 to 15 per cent, with his only regret being that he did not choose a five-bedroom home.

A retired doctor used an £89,000 pension lump sum to purchase over five acres of woodland in Somerset, viewing it as a safe long-term investment. Financial support from the Forest of Avon Trust and DEFRA enabled the planting of 3,000 trees, boosting biodiversity and wildlife on the land. The woodland has appreciated in value, provides recreational and conservation opportunities, and serves as an escape from city life, while the remainder of the pension lump sum was placed in ISAs and premium bonds.