With so many moves taking place in the housing market these days, it is inevitable that people are thinking about what to do next. If you haven’t moved recently, it is likely to be on your mind, and you might be looking for a move that allows you to enjoy more space, or which better suits your current and future lifestyle.
At Williams of Petersfield, we know why people are moving, and we connect buyers and vendors.
We are pleased to say we have helped many people move home recently. Whether you are of retirement age, or it is something which is on your mind, we are here to assist you. When you are considering your options for the move that will allow you to make the most of your golden years, we are here to help you.
A lot of people are considering their next housing move
Downsizing has become a hot topic for many reasons in recent times. According to a study by a leading insurance company, 12% of people aged 50 or older in the UK plan to relocate.
Areas listed as “retirement migration hotspots” by the Office for National Statistics include:
Cities where the largest number of exits include:
Why do you wish to move?
A recent study by Legal & General finds that over-50s have been influenced by the lockdown. People in this age group are now planning house moves, with the following reasons being important:
- Wanting to live somewhere that provides a better quality of life, cited by 7% of respondents
- A desire to live closer to family and friends was said by 4% of respondents
- Looking to live abroad was stated by 3% of respondents
Things to consider before location:
- The equity on your current home, and how it can be best used
- How future proof will your new home be?
- How will your living costs be affected by a move?
- Will it be easy to maintain (or improve) your current lifestyle when you move?
Claire Singleton, CEO, Legal & General Home Finance, comments: “Relocating in retirement was already a well-observed trend, with older people reprioritising their needs as they enter the next stage of their life. As with many aspects of our lives, the challenges of the pandemic seem to have led many people to take stock of their current living situation. There can be many benefits to relocation, whether it is a better quality of life, more space or even the opportunity to be closer to loved ones. One thing that is clear is that many people will also see their decision informed by how their property wealth factors into their long-term financial planning.”
At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.