A staggering £56bn of equity is held by property owners who would like to downsize!
A recent poll by retirement home provider McCarthy and Stone, in conjunction with YouGov, found that a staggering £516bn of equity is held by property owners who would like to downsize.
Around 4.3m have said that they would like to move, and around 3m have said that they will need to downsize. This means that if they all fulfilled their wishes, all that equity would be available, as well as freeing up housing stock for younger generations.
Marie Hanby, Marketing Manager, Serenity Parks commented; “There is so much that can be prohibitive for our older generation when it comes to achieving their downsizing goals, not least because of the lack of single storey, or shared accommodation homes that are available.
“Providers like us, and McCarthy and Stone, who offer a very different but equally important home choice for more senior people, are working hard to tackle this issue. But with one in three surveyed in the poll stating that the lack of retirement housing was prohibitive for them when it came to making the move, it’s clear to see that it is a huge issue.”
In recent weeks the Government has also announced that the Later Living Task Force – Housing for Older People is to be established to address the ongoing concerns that will become even more prevalent as our nation ages.
At Serenity Parks, great care is taken to choose locations that are a perfect place to call home, that the purchase process is made as straight forward as possible, and that the homes provided are of the highest quality.
An increasing number of people, currently tipped to be at over 250,000, are unlocking the benefits of single storey, park home living, and the simple lifestyle it can bring.
Exempt from stamp duty and with much lower fuel, power, and maintenance costs than a traditional bricks and mortar home, it presents a financially viable option for many as they seek to fulfil their downsizing dreams.
“It is really important that these issues are addressed, and that the entire process is made simpler for those wanting to construct these types of homes and those wanting to buy them.
“There are so many benefits for people to be able to live safe and comfortable lives in a home that suits their needs and retirement housing is one sector that needs great attention so that more people can discover those benefits.”
