4 property options for retiring to the East Coast
Are you approaching retirement or have you already left the workforce? As this new chapter of life begins, there are a whole host of things you need to consider, such as what you’re going to do with all of the spare time that comes with retirement, how you’re going to ensure your pension stretches as far as it needs to, and where you can find opportunities to socialise when you’re no longer at work.
It’s also incredibly important that you consider whether your current home is going to continue to serve you well, both practically and financially. As you get older, you’ll be far less inclined to move. So, planning for the future will help to ensure you spend your later years in a space that suits you perfectly. To help you with this process, we’ve listed four property options you have if you’re looking to retire to the UK’s East Coast.
More than 250,000 UK residents live in park homes, and the majority of these people are retired. There are a number of reasons why they’re a popular choice among people who have left the workforce: depending on the area, they can be bought for as little as £20,000, which means they can be ideal if you’re looking to downsize and release equity from your existing home.
In addition to this, park home sites are particularly secure, and have a welcoming community feel. Also, more often than not, they’re based in rural areas, which means they typically offer the opportunity to swap suburban life for a quieter one in the countryside.
The process of buying a park home is very different to purchasing a traditional bricks and mortar house, so you should carry out plenty of research before deciding to go down this route. Make sure you check out GoldShield’s in-depth guide to buying a park home, which offers a lot of the information you’ll need.
A huge benefit of retiring on East Anglia’s Coast is that you’ll never be too far from the sea. If this is a huge draw for you, you might even want to consider moving to a seaside resort. Areas such as Southwold and Aldeburgh have long been celebrated as some of Britain’s best seaside towns. Understandably, properties in these regions are in very high demand, which means they don’t come cheap. So, if you’re planning to move in an effort to cut costs, this mightn’t be the best choice for you.
Due to the fact that they’re only one-storey and therefore more accessible, bungalows are a popular property choice among the older generation. Even if you and your partner are still relatively young and mobile, it might be worth considering whether you would benefit from this in the future. Planning ahead can help you to avoid unnecessary mobility issues as you age.
Of course, the population is continuing to age, which means the demand for bungalows is only going to increase. So, even if you’re not sure whether you would like to make one your forever home, they can still make a great investment.
Retirement villages give you plenty of freedom to live independently, but also offer services that you might need in later life, such as housekeeping and visiting hairdressers. They’re also designed with accessibility in mind, which you’re bound to appreciate more and more as you get older.
Moving into a retirement village can take some getting used to. So, if you’re interested in this option but aren’t sure if it’s entirely right for you, check out Age UK’s guide to sheltered housing, which will give you all of the information you need.
If you’re leaving the workforce or approaching retirement, it’s important to consider whether your home is meeting your needs as well as it once did. There are so many great property options that will serve you well in later life, and they all have some fantastic benefits. So, make sure you research all of these options to find one that’s right for you.