Could assisted move be a better option for pensioners who wish to downsize?
According to research from Spicerhaart Part Exchange & Assisted Move, around half of all pensioners are considering downsizing to release equity from their homes – that’s around 5.7million people.
However, due to stamp duty, estate agency fees, surveys, legal costs, removal fees and refurbishment costs, they could ‘lose’ up to £29,000 on average doing so.
Jan Biggins, national sales manager at says that there could be even more pensioners looking to downsize, but the stress and cost is putting them off.
"Many retired people are looking to downsize to free up cash or because their current home is simply too big to manage, but are concerned about the stress involved with a move. The thought of negotiating with estate agents, strangers traipsing around their homes and the fear of offers falling through can really put them off. Assisted Move – where people are given the opportunity to sell their property quickly, with minimum hassle and cost – can take all that stress and worry away.”
Jan continues: “Selling a home can be stressful for anyone, but for older people who are not as fit and able as they once were – and this could well be the reason why they want to move - it can be really traumatic. That is why we are working with developers that are building homes suitable for retirees to downsize.”
Essentially, Spicerhaart deals with the sale so the developer and their seller benefit from an established and professional service.
Jan concludes: “We have found that there is a real call for this service as it makes the selling process so much easier for both parties, helping retirees downsize to a lovely new build house with the minimum fuss.
And the added benefit for the housing market as a whole is that if older people are being helped to downsize, their bigger properties become available helping to relieve the lack of second stepper homes on the market.”
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