The choice to buy or rent a home, even in retirement, is often decided by financial factors. With many people choosing to downsize as they embrace retirement, renting all of a sudden becomes a viable option again, even after so many years of owning their own home. We really believe, however, that for most people renting isn’t a good option – they should be looking at buying, even if they do have the savings and income to cover their rental costs for years to come. Read on and we’ll tell you why.
It’s your home
If you are looking to travel extensively, you will most likely still want a permanent base in the UK you can come back to whenever you like. However, you are an independent person, so you won’t want a landlord telling you what you can or can’t do in rented accommodation. Buying your own residential park home is a great alternative, giving you the freedom to travel as much as you like while still being able to pop home to visit friends and family.
It makes financial sense
We understand that the idea of selling your home and having the proceeds in your bank can sound tempting. Given that it is well known that property is a sound investment, however, you really have nothing to lose by purchasing one of our residential park homes. You will still hold the equity in your new home to pass on should anything happen to you and you will most likely be left with a healthy pot of savings as a result of your house sale.
Once you own your park home, aside from maintenance, you will have no other expenses. This takes away the unpredictability of rent, which can go up with very little notice should you end up with an unscrupulous landlord. Owning a park home is like having a comfort blanket, it gives you a level of protection that is invaluable.
Gateforth Park is one of the best retirement villages in the UK. With new and used park homes for sale, you really should pay us a visit and see what we have to offer.