More Britons Choosing To Retire To the City

More and more Britons are moving to bigger cities rather than towards the country for retirement.

Being able to indulge in interests, be close to family and be near good public transport was favoured in a recent survey by insurers LV. It seems country living is less favourable due to its lack of transport and interesting things to do, retirees are now escaping to the city!

Sandy Copland, 78, is a retired surveyor. He says, "We could have retired to Hampshire," but, "we moved back to our Chelsea pied-à-terre and put down a deposit on a unit in a dedicated new development for the elderly in Battersea." They chose the lively, indulgent life instead of the laid back life older generations of pensioners chose.

Because of this change in attitude from pensioners, British cities are facing a significant transformation. Mark Wilkinson, a partner at Knight Frank says, "We are seeing more of the 'affluent grey' buyer in central London".

Pensioners are enjoying the freedom and independence of everything being on their doorstep in the cities.

Max Davidson reported to the Telegraph that the seriously wealthy are buying a number of smaller, urban properties dotted around the world. The idea being that leaving each of their children a property rather than sell a family home is best.

When thinking about city living:

Make sure there is reliable local transport

Plan your budget beforehand

Consider energy-efficient properties that won't eat into your pension

Don't stray too far from what you know

Consider nearby health developments and supermarkets

For more information on buying or selling a property either call our solicitors on 0161 720 7200 or email enq@rosslegal.co.uk.

Ross Legal LLP

Commercial Conveyancing Solicitors
Salford, Prestwich, Manchester