Homewise said this suggested that the old image of over-60s relocating to a retirement enclave has now been superseded by a desire to be closer to loved ones. The results come from an online survey of 1,200 over-60s currently considering moving home.
Mark Neal, managing director, Homewise, said: “It appears a growing number of over-60s want to retain independence by choosing not to move into sheltered housing and instead are thinking about selling their homes in order to be nearer to friends and family. However many encounter financial barriers to choosing a suitable property, preventing them from moving home.
“A recent survey found that on average a British person will spend 275 minutes per week with TV families in soaps, but only 90 minutes in quality time with their real family. However, in the case of retirement age Britons at least, many are now taking steps to ensure that they can enjoy the company of the people that really mean something in their lives, in a property that is right for them.”
The survey also found that security was not a primary concern for the vast majority of respondents. Only 4% rated this as a key factor in taking the decision to move house during retirement, prioritising raising capital (19%), struggling to cope with an existing property (21%), and moving to a better location (28%), above fears over security.
Neal continued: “We have helped thousands of over-60s move home and of course security is a concern but most prioritise the freedom to choose a property in a better location.”
