Traditionally the number of buyers looking for a home decreases over the festive period and this can have an adverse affect on the asking prices of sellers.
In order to maintain high levels of sales over the winter months, Economic Lifestyle is offering customers up to £2,500 cashback on properties available through its Life Interest Plan until New Year’s Day. Under the plan, which is totally unique, people over the age of 65 can buy a home designed for retirement living from as little as £32,950. By using part of the equity from the sale of their existing property they can buy a Life Interest in an Economic Lifestyle property.
Economic Lifestyle believes that other developers will follow suit by introducing a range of incentives that would not normally be available during peak months. McCarthy & Stone, the UK’s largest builder of sheltered homes, has already announced it is cutting profit margins to secure a steady flow of sales.
Mark Neal, managing director of Economic Lifestyle, said: “The retirement property market is traditionally subject to seasonal house price trends. However, many elderly homeowners are facing increasing financial pressures and those looking to move often have to strike a difficult balance between getting the right price for their current home and negotiating a good price for their next property.
“We have taken steps to bridge that gap by introducing attractive discounts over the traditionally slower winter months. There are some fantastic bargains to be had and we expect other retirement property developers to follow suit.”
