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If you imagine that retiring and downsizing has a less than positive ring to it, think again. With a spot of careful planning, it’s perfectly possible to move to a smaller property, have cash to spare – and to take a big step forwards in your quality of life.
How so? The answer is provided by Park Holidays UK which says there has been a big rise in older couples using the sale of a larger house to fund a smaller property, and to buy a second home on the coast to where they can escape virtually all year round for holidays and longer stays
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Others are taking advantage of the new government rules which allow those aged 55-plus to withdraw a tax-free lump sum from their pension pots, and using this to fund a new dream lifestyle.
If you’re thinking that the maths won’t add up, consider this. Caravan holiday homes, fully equipped and furnished, start from just £8995.00 on Park Holidays UK’s 24 parks in Devon and Southern England. You could also consider a Lodge, which start at £59,995 but provide more home comforts including up to 67% more space!
Many mature buyers, says the group, enjoy using their holiday home to bring the family closer together by choosing a park location near to where their children and grandchildren live.
It means the couple can visit them more regularly, and even treat little ones to occasional stays. They can also offer their bolt-hole to their grown-up family on the occasions when they aren’t using the property – or even rent it out via the park to create a second income.
New life
But most of all, a caravan holiday home or lodge is a way to add another dimension to retirement life, away from the usual four-walls and in a delightful location with plenty of leisure opportunities on the doorstep, and the pleasure of getting to know a new part of the world.
As to the second home itself, these really are in the luxury class: light, airy and spacious with two or three good-size bedrooms and at least one bathroom. The kitchen will be fitted-out with all the latest appliances, and the dining and living areas are all generously proportioned.
Your holiday home will be just steps away from host of attractions which won’t cost a penny extra, such as a swimming pool, leisure centres, and play areas for children. And at the evening, there will be family entertainment laid on with nightly-changing shows featuring superb professional acts.
Park-based holiday homes, says Park Holidays UK, are increasingly being seen by retirees as way to achieve all their goals for later life: moving to a more manageable property, putting some money aside for the future, and enjoying the enviable lifestyle which second home ownership brings.
Not selling?
But what, if like many people, your downsizing plans are currently being grounded by the stagnant property market?
Park Holidays UK can help here too with a scheme that enables couples to downsize their existing property and buy a smaller and more manageable home as well as a luxury holiday home on one of its parks.
The purchaser will be one of the UK’s largest house buying companies which will use valuations from local estate agents to establish the price which they will pay.
The homeowners can then set about finding a new smaller permanent house in addition to their holiday home, sure in the knowledge that the sale is secure and will not fall through.
“Many couples tell us that they have found an ideal holiday home on one of our parks, but can’t proceed until their property sells,” said Park Holidays UK director Tony Clish. “Often their stories involve long frustrating months of unsuccessful marketing, and even price reductions.
“This scheme entirely removes estate agents from the frame, and does away with the need to show people around your home as well as the hassle of negotiating on lower offers.
“Instead, a price is agreed and the completion date set for whatever suits the sellers best. They then take possession of two perfect properties in exchange for one major headache,” said Mr Clish.
Target price
The price achieved for the home, he said, was typically around 90% of estate agents’ estimates.
However, added Mr Clish, agents’ valuations are often considerably over-optimistic in order to win the instructions, and frequently bear little resemblance to the finally agreed selling price.
Neither will sellers have to factor in thousands of pounds’ worth of estate agents’ fees – and can also avoid conveyancing costs by using the legal services provided free by purchasing company.
The equity in many people’s homes, says Mr Clish, often allows amble latitude for buying a caravan holiday home or lodge as well as a more suitably sized bricks-and-mortar property.
“Swapping a family house for a smaller home and a luxurious holiday bolt-hole on the coast can usher in a lifestyle that many people would envy,” said Mr Clish.
“With this scheme, it becomes an instant possibility – and means that couples will never again be rushing around with a vacuum and duster every time the estate agent calls!” he said.
More information about the guaranteed property sales programme is available on the company’s website at www.parkholidays.com – or call 0843 178 7065
