What to consider as a last time buyer

So much information is focused on first-time buyers and their step onto the property ladder, but there should be an equal concentration aimed at last-time buyers to ensure their final house will suit all of their needs.

There are concerns that not enough family homes are available on the market, and this is due to older adults living in unsuitable properties. However, the reality is that many find there are not enough properties appropriate for the last-time buyer.

Nobody enjoys moving house, and the last thing you want to do in your retirement is to move a second time as what you expected to be your final home turns out to be unsuitable for your needs. In this guide, we have looked at some tips for last-time buyers when purchasing their last home.

Buy Smaller

When you're approaching the stage of being a "last-time buyer," downsizing to a smaller house can be a smart and liberating choice. A smaller home is easier to manage and maintain, reducing the physical and financial burdens that come with larger properties. It can also help free up equity tied up in your current home, giving you more financial flexibility for retirement, travel, or other pursuits. Furthermore, a smaller house can be more energy-efficient, leading to lower utility bills and a smaller carbon footprint. Downsizing is not just about moving to a smaller space; it’s about embracing a lifestyle that’s simpler, more sustainable, and tailored to your evolving needs.

Additionally, assessing the type of property you need for the long term may be easier to help narrow down your search. For example, opting for a bungalow will be a great investment as you grow older and if you were to face mobility issues.

Think About Bedrooms

Often many choose to stay in the same home they raised their families in, and it becomes a hub for children and grandchildren alike. While this may be wonderful for holidays, it leaves you spending the rest of the year cleaning and paying for four bedrooms you don’t use.

Downsizing to fewer spare bedrooms will save on bills while still allowing visitors to stay over as and when you please. It also means you can reduce the amount of furniture, bedding and other items that you acquire in a large home. 

Clever use of space

Understanding how you use your home will help you know which rooms you require and which you can live without. Some people never use a dining room, and this could instead be a second bedroom or an area to pursue their interests. Others may find a conservatory doubles as the lounge offering another room up for repurposing

This extends into the gardeners. Keen gardeners may bemoan the loss of their greenhouse and acres of manicured lawn, but often this is impossible to maintain if you face limited mobility. There are many more options now available, with lean-to and wall greenhouses taking up much less space, while pots in a courtyard offer you a release for your green-fingered tendencies without the upkeep of a lawn. 

Think About Furniture

Everybody acquires a fair amount of household items over the years, from family photographs to the steamer that was a Christmas present and has only been used once. If you are thinking of downsizing, you will need to consider what furniture you can’t live without and what can go.

Whether it is an enormous Welsh dresser you intend to give away or sell, or merely putting all the family photos in a digital archive, there is much you can live without and reducing the contents of your house will help you understand what size property you will need.

Consider Location

As a last-time buyer, choosing the right location is crucial for enhancing your quality of life in your later years. Opting for a location that’s close to essential amenities, such as shops, healthcare facilities, and public transportation, can make daily life more convenient and reduce the need for long drives. Living within walking distance of these services promotes independence and keeps you active, which is vital for maintaining your health.

Additionally, being near family and friends can provide a strong support network, offering companionship and assistance when needed. Prioritising a location that combines convenience, accessibility, and social connections can significantly improve your comfort and well-being as you settle into your new home.

Local amenities 

While you may currently be an independent two-car household and want nothing more than a small holding in rural Sussex, looking at a more long-term plan will drastically change your criteria. If you wish this to be a last-time buy, then there may come a point where you don’t wish to drive all the time. This means living close to public transport and possibly a shop for the milk run. Many encounter medical difficulties, and being within walking distance of doctors and pharmacies could be appealing.

The other element is social life. Many older people in the UK are lonely and isolated; if you pick a town or village that has a community, whether that is a pub or a bowls team, you will find it much easier to stay social.

Nationally

Where do you want to be in the country? This can be very dependent on hobbies and holidays as well as attachments like family and community. If you have had a favourite holiday spot that you have been going back to for years, downsizing may allow you to live in your dream location. Perhaps you have a passion for golfing and wish to be closer to a better club.

Often people choose to relocate down south due to the milder climate and gentler landscape. However, a smaller house means smaller bills, and if it is well-insulated, it can be quite economical.

Don’t let the winter weather put you off your retirement dream of living in the Lake District. While many of the top ten retirement spot lists can be discounted, a few are very helpful if you are looking at where to start. The Guardian created an in-depth study into top retirement towns and offers not only the percentage of other retired folk but also average rainfall and sunshine hours, crime rates and cost of housing, transport links, as well as local areas of cultural and natural beauty.

Consider Family

In years gone by, families would have stayed in the same area for generations, however 2024 finds them much more scattered, with children moving away to find work or staying in towns where they attended university. Though many people are attached to the area in which they raised their family, it in no way tethers them to it. The children may move to the big city; what is to stop you from doing the same?

There are still things to consider; however, though you may have a burning desire to enjoy your retirement in the furthest corner of the West Country, this may make getting to you a chore for family and friends. Pick an area that is accessible, with good rail and road links; if anything happens, you want to be able to get to places fast, and country roads may be attractive, but they are not renowned for speed. 

Accessibility

While the rest of this advice may seem general, this section is very much tailored to the needs of the individual and the property in question. While you may currently be mobile, the future is unknown and ensuring your property is set up to meet your needs is a crucial step to finding your perfect home.

Whether you want to look at purchasing a home, such as a bungalow, or assess the home’s layout and consider whether it can be easily modified to include essential accessibility features, such as stairlifts, ramps, or walk in baths and showers. For multi-story homes, check if there’s enough space to install a stairlift or even a homelift, which can make navigating between floors safer and easier.

Wide doorways and hallways are also important to consider, as they can accommodate mobility aids like walkers or wheelchairs. By selecting a home that can be adapted to your future needs, you can ensure it remains a comfortable and safe space for years to come.

Level Headed

Ensuring your house is step-free may not seem like a big deal now; however, if you do have limited mobility in years to come, pre-emptive planning will be incredibly helpful. This doesn’t just include inside your home, but getting to and from your front door, dropping pavement nearby, and having accessible parking are all important factors.

This by no means constrains you to a bungalow as interior facilities can make multiple floors available to you. You can even contemplate flats as long as they have an elevator. I would note that if your mobility is impaired, then a flat may not be an option due to emergency evacuation. 

Interior Facilities

Though you may not want to widen all the door frames as soon as you move in, this could be a possibility in years to come. Ensuring your staircase is suitable for a stairlift, and your bathroom has the capability to house a walk in bath or shower will make you more comfortable in your later years. As more people opt to live independently, adapted interiors are becoming more and more vital. 

Take the first step toward enhancing your home’s accessibility with a reliable straight stairlift. Explore the various types of stairlifts to find the perfect fit for your needs. For more information, check out our comprehensive stairlift advice guides. Ready to get started? Make an enquiry today or request a brochure to learn more.

This news article is from Handicare UK. Articles that appear on this website are for information purposes only and are up to date as of the time of publishing.