Downsize to what: your options

The Office for National Statistics said the number of over-65s is projected to grow twice as fast as the working-age population over the next 10 years.

It is common knowledge that older owners’ have properties bigger than they need & as a result their life’s savings are in a way blocked in them. There is also the question of being able to effectively manage & many times modernise these properties.

Statistics say about 40% of owners aged 65 & above are actively considering downsizing – a number which is going up.

Roughly on an average, owners aged 65 and older release £80,000 each when they downsize.

There are many options available when you downsize.

  • Care Homes have recently been very badly affected by the COVID pandemic and many customers are not considering them at all.
  • Apartments are another attractive option but they need to be weighed against the costs & the convenience.
  • Retirement villages: purpose-built solutions. However, they are generally quite expensive & many have a 2-floor layout which is not the most sensible situation as we age.
  • Residential Park Homes offer a great option here because they are extremely affordable & have a bungalow style-layout which is extremely helpful in later years. The community aspect is very strong in these developments as well as they are only for the above 45’s/ 50’s and everyone is in a similar situation in their life.

Generally, retirement housing means small uninspiring homes or housing which is not suitable. This puts off a lot of people who would like to downsize to nice, modern bungalows & also have access to necessary infrastructure, facilities & support as needed.

Many retirees also like to fund their children on to the property ladder & unless they have special purpose-built housing options – they remain stuck & there is permanent block in the situation.

A very big criticism of park homes is that they are very close together & there is no sense of privacy or space.

But all that has changed massively.

The park has come a very long way from those years though. The homes used to be vastly different in those years from what they are now.

It has grown to be a luxury residential park home development with fancy luxury bungalows but the inherent feeling of community & camaraderie has still remained the same

We all know each other & spend a lot of times with our friends & neighbours in the park.
Ruth, resident Cranbourne Residential Park

Our residential parks are purpose-built & ensure that you get your parking next to your home, your garden space & the homes are modern, furnished plus the kitchen has integrated appliances & the bathrooms are modern with showers & can be customized as per your needs & choices.

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