The fifth most common reason for moving home is planning for one's retirement. With low interest rates predicted to continue for some time, clients are looking for other ways of investing their monies as an alternative to other income streams.
Planning for the future is a key part of property ownership and buying a second home as an investment, with a view to retirement, is still an important part of the residential property market.
There are on-going concerns that too many homes are being sold to and owned by people wanting a second home in some semi-rural and rural areas. Their obvious complaint is that second homes are infrequently occupied, the local economy suffers and it reduces available housing stock creating a housing shortage for locals.
There will always be traditional holiday destinations in North Cornwall, parts of the Devon coastline along the South Coast, the Suffolk Coast and in North Norfolk that remain popular for this, although, as with all property outside London, the market is very price sensitive.
People are understandably also considering their retirement and buyers look to invest in advance of giving up work. Historically, areas known for the milder climate on the south coast or in North Norfolk and on the Suffolk coastline are a few examples where there has always been a strong demand with buyers looking for retirement as well as second homes.
If you are looking to purchase an investment or retirement home in the coming months and need help finding a property within your price bracket, please contact Nigel Sellers on +44 (0) 1962 793100 or email: firstname.lastname@example.org.