Younger Generation want pensioners homes

Posted: 05/10/2015

A frustration is growing by a new generation of young prospective homeowners, who feel they need to upscale through the need to house their growing families. Elderly homeowners who have more space than they ‘need’ are seen by critics as a problem to the housing markets by not allowing their multiple bedroom properties to be bought by young families who are stuck in small flats.

Many elderly homeowners are offended by this and some say this is rightly so. After paying off large mortgages and finally owning their own family homes, it could be argued that they have earned the right to stay put in their homes for the last part of their retirements. However, it’s not just the money aspect of selling up that has many pensioners panicked, for many the homes they live in have been the houses they have watched their children grow up in, and so to leave their family homes so late in life would be to throw away huge sentimental value. The main concerns for older property owners is the high cost of retirement apartments and the practicality of physically having to pack up all their belongings and getting rid of most of their stuff to downsize.

This new concept of older homeowners blocking up the property ladder is creating tensions between the young and the old generations and although there is a shortage of family homes on the market, it can’t be expected for pensioners to move homes during this crucial time of their lives.

(0) Comments Pali, property, housing market, elderly, family homes

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