Downsizing is on the increase – and not just as a means of releasing equity to fund retirement!

Research carried out by Friends Provident reveals that almost 25% of homeowners who are currently working will consider downsizing in the future to fund their retirement.

According to retirement specialist, Archstone Lifestyle Homes, however, there is a growing trend for the over 55s to downsize for reasons other than releasing equity.   Many home owners ‘cross-trade’ to a home of similar value to their former homes simply because a new home is much easier to maintain than an old property as well as being more energy-efficient.  Other downsizers buy ‘lock up and leave’ retirement properties in order to travel  or live abroad for several months each year in a second home.

In terms of downsizing, timing is crucial. The majority of Archstone homebuyers decide to ‘downsize’ when they start to experience difficulties in maintaining older properties set in extensive  gardens – or when illness strikes and living in a large home becomes ‘too much.’

Archstone’s developments, at the high quality end of the retirement property spectrum, are ideal for downsizers who are looking for a stylish, impressive home with fewer bedrooms rather than less living space.

Archstone is committed to creating small, exclusive, gated courtyard-style developments which comprise easy-to-maintain traditional-style homes with manageable gardens.   Each home is designed to provide flexible living space with a wide hallway, stairs and landing, a generously-proportioned living room, carefully-planned kitchen, a dining room and sunroom or conservatory.  Archstone also creates shower rooms on the ground floor so that owners are able to live on one level should the need arise.   The fact that Archstone includes high quality fixtures and fittings, designer kitchens with a full range of integrated appliances and, usually, with a combination of carpeting and tiled flooring, adds to the appeal of the new homes as retirees are able to move straight in.

Each Archstone development has an Estate Management service which appeals to those who spend their newly found leisure time abroad – either travelling or in a second home.   The Estate Manager takes responsibility for maintaining the development, including the gardens and the communal areas and ‘keeps an eye’ on properties whilst owners are away.

Another reason for downsizing to a retirement development is security, which is extremely important for mature homebuyers as Tim McEvoy, Archstone‘s Sales and Marketing Director makes clear:

“At Archstone, we create courtyards that achieve a balance between privacy and a sense of community.   Most of our developments include fewer than 20 new homes, so they are small enough to offer the sense of security that our buyers – particularly single female retirees and lock up and leave owners – appreciate.

Archstone’s current developments include a newly launched development in Hardenhuish Lane, Chippenham and another in Highworth, Wiltshire, as well as St Michael’s View in Mere, Wiltshire,  Stapleford Court in Stalbridge, Dorset and Abbeymead Court in Sherborne, Dorset.  For further information, please visit the website on www.archstone.co.uk.