Thu 08 Mar 2018
Aidan J Reed, Consultant at John German Estate Agents was invited as a guest speaker on BBC Radio Leicester earlier this week to discuss what type of properties people are buying in their retirement.
The discussion with presenter Ady Dayman was centred around the decline in people choosing bungalows to move into. Instead, according to Aidan people are choosing to stay where they are or to buy a small town centre apartment.
"In the past, most people going into retirement preferred to buy bungalows. However, the way we live today is very different to 25-35 years ago. We are living and working much longer, with both men and women in work, there's more of a need for grandparents to help out with childcare. This means we are now seeing more and more of those in their 60's and 70's staying where they are because they still need the space," says Aidan.
Aidan continues "We are also seeing a rise in multiple generations living together, due to younger people being priced out of the housing market. They simply can't afford to buy on their own and are living with parents instead. Although, those in their later years are actually better off than ever before. We see in areas such as Ashby and Loughborough in particular, people buying small town centre apartments and using them as a 'lock-up and go' and spending a few months in a holiday home in the Mediterranean during colder months."
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