Park Home Living Blog

How to Improve Your Pension in One Move

Jun 5, 2017 11:54:00 AM

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While the prospect of retirement seems exciting to those in their early years of full-time employment, it becomes much more daunting when the last day at work is fast approaching. Suddenly, you’re going to have more free time than you’ve ever had at an age when your mobility is perhaps not quite what it was during your younger years, and you might be worried about how to make ends meet when you can no longer rely on a monthly salary.

Of course, you’ll probably have a pension to help you get by after retiring, but unless you’ve saved diligently over the years and invested significant sums of cash into a private account, you still might not have as much money as before. Fortunately, you can make your pension stretch much further in one fell sweep, and that’s by giving up bricks and mortar to instead spend your retirement in a luxurious park home. Keep reading below to find out why so many seniors choose to do this before you automatically dismiss the idea.

 

How Does Moving to a Park Home Save Money?

 

In 1975, the average UK house price was just over £10,000, though, of course, that amount of money was worth much more at that time than it is today. Nevertheless, the average UK house price in the final quarter of 2016 was just short of £260,000, so you can easily see the potential to make hundreds of thousands by selling the home you’ve owned for decades. Even if you purchased your property more recently than 1975, it wasn’t until 2002 that the average home became worth more than £100,000.

 

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Of course, you will be subject to a variety of fees when selling your home, but even after you’ve settled lawyer and estate agent bills, you’ll have a sizeable chunk of cash with which to do whatever you like. However, you still need a roof over your head in a property that provides all the amenities and luxuries you need, and if you want your cash to go as far as possible, you should consider buying a park home instead of downsizing to a new property in an area you'd prefer to avoid.

Park homes in Shropshire, even when you consider the lot fees and the price of the home and land, cost around £200,000, which is much less than the average Shropshire detached house price of over £290,000. As you can clearly see, selling a large property and moving to a park home could give you a huge nest egg to compliment your pension, so you won’t have to worry about how to make your money go as far as possible during your golden years. Plus, you'll likely spend less on utility bills in a Park Home than a typical household, helping you stretch your monthly pension further. Of course, you still need to decide whether park home life is for you.

 

What Does Park Home Living Entail?

 

As far as your indoor world goes, not a lot changes when you move from bricks and mortar into a park home. You’ll still have a comfortable king-sized bed, a kitchen boasting modern appliances, a large living room to host guests and relax, and a bathroom featuring luxurious amenities. However, you won’t need to drag yourself up and down the stairs when you lack energy, and other benefits of park home living don’t exist in more urban settings.

 

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If you live in a park home, you’ll be surrounded by other senior years making the most of their golden years, and the sense of a close-knit community is undeniable. You’ll have plenty of outdoor space surrounding your property and access to the major road networks for when you fancy traveling further adrift. Thanks to being much more affordable than bricks and mortar while boasting a peaceful atmosphere full of like-minded people, park home life is increasingly growing in popularity among retirees.

 

If you are considering the move to a park home or you're interested in buying a park home for sale in Shropshire, simply take a look at some of our park homes for sale or get in touch with one of our friendly team by completing the contact form >>HERE<<

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