Five Overlooked Financial Checks When Buying or Selling a Home

We recently caught up with John Kirkwood from Quilter Financial Advisers to discuss some of the key things buyers and sellers should consider when looking to make a move.

Buying or selling a home is often the moment families realise how many financial decisions have been left untouched for years. It can be the perfect opportunity to check a few areas that quietly shape your long‑term security.

1. Are your family protected if something goes wrong?

A move is a natural moment to pause and ask:

• What would happen to your family if something happened to you? Could they stay in the home, or would a lack of funds force them to move?

• What if the main household earner became seriously ill and couldn’t return to work? How long could the family manage financially?

• What if you were made unexpectedly redundant? Would childcare costs, school fees, or household bills still be covered?

Many people realise they don’t actually know the answers, and not knowing can have life‑changing consequences that only become visible when it’s too late.

2. Wills that haven’t been updated since your last move

Many people haven’t looked at their Will since their previous home purchase, or don’t have one at all.

A move is a natural moment to check:

• Whether your Will reflects your current wishes

• Whether your home should be held jointly or individually

• Whether your executors are still appropriate

• Whether guardianship arrangements for children are up to date

These are small steps that provide clarity and peace of mind.

3. Sale proceeds that need a plan

Downsizing or releasing capital creates opportunities, but also decisions.

Families often ask:

• Should we invest some of this?

• Should we use it to strengthen retirement planning?

• Should we gift some to children?

• What’s the most tax‑efficient way to use it?

Having the right plan when that moment arrives can make a big difference.

4. Pensions and investments that haven’t been reviewed in years

This is one of the biggest blind spots for most families. Many assume workplace pensions “just get looked after,” but the reality is that lots haven’t been reviewed in years.

Useful questions to consider:

• Do you know where all your old workplace pensions are?

• Do you know how much they’re costing you?

• Do you know what they’re invested in, and why?

• Are they performing appropriately?

• Are you comfortable with the level of risk they’re taking?

• Have you decided how much income you’ll need in retirement, and checked whether you’re on track?

With pensions due to come into scope for inheritance tax from April 2027, it’s also worth considering how your arrangements fit into your wider succession planning.

5. Succession plans that need refreshing

Property is often the largest asset in a family estate. A move is a good moment to consider:

• What are your long‑term goals?

• Do you want your children to inherit your money, and if so, when?

• Have you thought about how to do that efficiently?

• How would gifting or inheritance affect your own retirement plans?

• Is your estate likely to be exposed to inheritance tax?

These conversations don’t need to be complicated, but they can make a big difference.

A move is a fresh start, financially as well as practically. Buying or selling a home is more than a transaction: it’s a natural opportunity to make sure your wider financial plan is up to date, protected, and ready for the next stage of life.

If you would like to discuss any of the above in more detail, John’s contact details can be found here.

John Kirkwood, Financial Adviser in Edinburgh | Quilter