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New builds: The answer to downsizing?

New builds: The answer to downsizing
New builds: The answer to downsizing

Is buying a new-build property the ideal solution for downsizers? Janet Burnell of Kent-based Pentland Homes ponders the issue.

As the baby boomer generation heads into retirement age, we are seeing a noticeable increase in people downsizing for a whole variety of reasons.

These include people cashing in to release equity for enjoyment and lifestyle reasons. This can be to travel, or to purchase a property abroad. Some people want to pay for youngsters to go to university, or help their offspring with a deposit for a house. And others simply want a smaller property that is easier to manage.

This increase reflects the economic times - some see that they have no choice but to downsize in order to give their children the chance to own a property.

And a recent survey highlighted a new demographic - the grey gapper' or people who go travelling later in life. According to one recent report, 25% of over 55s have either been on a gap year in the past five years or are planning to take one.

For those who do wish to downsize, buying new build is a good option. New homes are much more energy efficient, which keeps costs down, and with rising energy costs, this is becoming increasingly important.

Another plus with new builds is the difference in building requirements which mean that door entrances are wider, should mobility be a problem. Not only that, new homes are built to high health and safety standards, for example, all are built with fire resistant materials and have smoke detectors wired in.

Lastly, the security and low maintenance that new homes offer means that 'grey gappers' can feel safe while travelling the world.

For further information on Pentland Homes properties, contact 01303 893080 or visit www.pentlandhomes.co.uk

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