Downsizing in Modbury: What You Would Actually Release
Selling at the £400,000 Modbury average and buying at £280,000 releases about £107,300 after costs. Fees, stamp duty and moving take roughly £12,700 of it.
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Selling at the £400,000 Modbury average and buying at £280,000 releases about £107,300 after costs. Fees, stamp duty and moving take roughly £12,700 of it.
The downsizing sum for Modbury
Start with the gap. Selling at £400,000 and buying at 70% of that, £280,000, leaves £120,000 before costs. Costs are the part people underestimate.
Agent fees at 1.5% are £6,000. Stamp duty on the purchase is £4,000. Total £12,700, leaving £107,300 in hand.
Where the sale proceeds go
The commercial page for this town sets out the introduction itself: Equity release in Modbury.
Downsizing against releasing equity
A lifetime mortgage at 65 on the same property would release about £136,000. Downsizing nets £107,300. The difference is that downsizing costs you the house, and equity release costs you the estate.
Over twenty years that £136,000 release grows to roughly £479,216. The downsizing figure does not grow at all, because there is no debt.
What the move costs beyond money
Council tax follows the property, not the person. Band D in Devon is £2,584, and a smaller home may sit in a lower band. Check the band before you offer, not after.
Downsizing works best when you are not in a hurry.
Moving within Devon rather than out of it keeps you near family and known services. The average price across the county towns we cover is £354,375, against £400,000 here.
What a move within Modbury looks like
The schools families ask about here are Modbury Primary School, Ivybridge Community College (a secondary option), Kingsbridge Community College (a secondary option) and Post-16 & sixth-form options. 2 local schools were rated Good or Outstanding overall at their most recent graded Ofsted inspection. Ratings age between inspections, so read the latest report before you rely on one.
On getting about: Modbury to Ivybridge (by car) takes about 15 to 20 min.
By price, Modbury ranks 6 of the 32 Devon locations we cover, at £400,000 against a county average of £354,375. Band D council tax here is £2,584, against an average of £2,675 across the towns we cover in the county.
Is Modbury right to stay in?
Modbury is a historic hilltop wool and market town of slate-hung Georgian houses on the A379 in the rural South Hams.
The full local guide covers schools, transport and the market in detail: Modbury property and area guide.
- A characterful hilltop Georgian market town
- More affordable than the South Hams coast
- A genuine full-time community, not a resort
- Well placed for Plymouth, the A38 & the coast
- Modbury Primary (Good) in the town
- No railway station (nearest Ivybridge/Totnes)
- A small rural town, limited town-centre services
- No secondary school, children travel to Ivybridge or Kingsbridge
- No dual carriageway in the town, car-dependent
- Nearest full A&E is at Plymouth (~30 to 40 min)
| Who it suits | Out of five | Why |
|---|---|---|
| Downsizers & retirees | ★★★★☆ | A walkable (if steep and hilly) country town with independent shops, pubs and a strong sense of place, more affordable than the coast, with the full A&E at Plymouth, the lack of a railway and the rural services in mind. |
| Families | ★★★★☆ | A characterful, more affordable South Hams town with Modbury Primary (Good), independent shops and a full-time community, check the secondary school run to Ivybridge or Kingsbridge and the distances to A&E and a station. |
| Plymouth commuters | ★★★★☆ | Within around 30 to 40 minutes of Plymouth and the A38 by car, with more space and character for the money than the city, though there is no railway, so it is a car commute. |
| Remote & hybrid workers | ★★★★☆ | A characterful, more affordable base with good broadband for home working, though the lack of a railway means office days mean a drive to Ivybridge, Plymouth or Totnes, ideal for mostly-remote roles. |
| First-time buyers | ★★★☆☆ | More accessible than the South Hams coast, with cottages, terraces and flats often around £250,000 to £330,000, though still a sought-after rural town with no railway, so budget carefully. |
Modbury is known locally for The slate-hung Georgian wool town, and The South Devon Chilli Farm. Modbury's steep main street of distinctive slate-hung Georgian houses, the legacy of its medieval and Georgian wool wealth, and one of the most characterful market-town streets in the South Hams.
Practical detail for Modbury: the PL21 postcode district, none, the nearest stations are Ivybridge (~15 to 20 min) and Totnes on the Great Western mainline and nearest A and E is Derriford (Plymouth) ~30 to 40 min, the closest of the South Hams towns; or Torbay; Kingsbridge has a Minor Injuries Unit.
Modbury has history behind the price. In Medieval, Modbury grows as a hilltop market town and becomes one of the principal wool towns of Devon; markets and fairs are held.
Modbury at a glance
| Downsizing line | Modbury figure |
|---|---|
| Sale price, local average | £400,000 |
| Purchase at 70% of value | £280,000 |
| Estate agent at 1.5% | £6,000 |
| Stamp duty on purchase | £4,000 |
| Legal and moving | £2,700 |
| Total costs | £12,700 |
| Net released | £107,300 |
| Lifetime mortgage alternative at 65 | £136,000 |
Figures are local averages used for illustration. Confirm your own numbers before acting on them.
Ask about Modbury
Three details is all we need. You are told before anything is passed to a partner firm.
Your checklist
- A real valuation of your home, not the £400,000 average
- The council tax band of the property you are buying
- Total moving costs of about £12,700
- The equity release comparison, in writing, before you decide
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Check broadband before you make an offer in Modbury
Broadband speeds can vary street by street in Modbury, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.
We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.
We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.
Questions people ask
How much would I release by downsizing in Modbury?
Is downsizing better than equity release?
What are the costs of moving?
How do I check broadband speed at a property in Modbury?
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