Property owners can release equity of £100,010 on average when downsizing to a residential bungalow park

Recent years have seen record numbers of retirees moving to modern, luxury residential park home bungalow developments in rural or coastal locations. Most are driven by the need for more suitable-sized property, as well as the promise of a welcoming community of like-minded residents.

Another big benefit for homeowners is the amount of equity released when downsizing (or ‘right-sizing!’) to a smaller, more manageable single-storey property. Residential park bungalow and Part Exchange specialists Quickmove Properties report that the value of equity released when customers downsize to residential parks is on average a staggering £100,010 tax-free. (Based on 227 most recent completions, October 2021).

Quickmove Sales Director, Mark O’Dwyer, comments; ‘Demand for bungalow-style homes in the country or by the sea has never been higher, with many parks close to selling out. Hundreds of buyers secure their dream home using our property part exchange service, avoiding the usual stress of selling their existing property on the open market. They also enjoy the fact that on completion day we transfer a significant amount of money to them!’

‘Some will immediately re-invest all the cash, while many purchase their holiday of a lifetime, or buy a modern new electric- or high-powered car. Sometimes an amount is gifted to family members or simply enjoyed as a cushion for the retirement they dreamed of.’

Quickmove’s 5 star rated* Property Part-Exchange service lets customers buy their brand-new park bungalow and sell their existing property with ease. The service offers speed, convenience and certainty, with Quickmove handling estate agents, park operators and solicitors. Customers also value being able to keep the keys to their existing home for up to two weeks after completion, so they can move out at their own pace.