The Myth Of Downsizing To Fund Retirement - BMV Property Investment Deals

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The Myth Of Downsizing To Fund Retirement

Blog and News - Property Investment

Written by John Angeletta

Tuesday, 13 December 2011 10:18

The Myth Of Downsizing To Fund Retirement

Research from Aviva reveals that the perception of large numbers of people downsizing to fund their retirement is far from the truth.

Just 1:6 (16%) choose or are able to move to a smaller home later in life, with the majority of retirees opting to remain in their family home or move to a larger property for their retirement.

When taking into account the effects of the current economic crisis, static house prices and the costs of moving, downsizing is simply not a realistic option to release sufficient cash to fund retirement.

Many retirees also face increasing pressure to accommodate adult children who remain at home for many more years than a generation ago.

Clive Bolton, Retirement Director at Aviva, said: It seems that family pressures and needing more space in the home for individual relaxation are causing the majority of retirees to stay in the family home at retirement, rather than considering a move to a smaller house.

Seventy percent of those surveyed chose to move to a bigger house because they needed more space as they were spending more time at home. Thirty-one percent wanted space for themselves away from their partner, whilst 23% needed to accommodate family who regularly visit.

Whilst a balanced investment portfolio is always advisable, there is little doubt that additional property offers the maturing family an extra advantage of increasing wealth through capital growth, rising income from rents and, providing housing for children if needed.

Remember too, you only need to find a fraction of the investment cost to acquire BMV/BTL property than you would to buy other types of investments.

Call John on 0203 239 4359 to discuss your safer Below Market Value BTL property options.

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