Are you thinking about relocating in retirement?
Every year, thousands of over-65s decide to move to a new location to enjoy their retirement. Data from the Office for National Statistics found that leaving urban areas in favour of rural locations, the coast and areas of outstanding natural beauty, continue to be the trend.
There are plenty of reasons why you may want to move in retirement. Perhaps you want to be closer to home or purchase a cheaper property to release capital that’ll help you achieve retirement goals. But the lifestyle a location offers is just as important. So, if you’re thinking about relocating once you give up working, you may want to consider the top seven hotspots.
It’s easy to see why Dorset comes out top for retirement hotspots if you’re looking for an idyllic rural lifestyle. There are plenty of picture-perfect villages to settle in, and more than enough unspoilt countryside and coastline to take in; more than 40% of the country is a designated Area of Outstanding Natural Beauty. If you’re looking for a slower pace of life surrounded by beautiful views, including the Jurassic Coast, Dorset could be perfect for you.
Shropshire has plenty of quaint towns with Tudor-fronted houses and traditional stone cottages to move into. On the border of Wales, the area boasts plenty of history so you can expect to find cultural sites and attractions to enjoy as well as a rural way of life you may be seeking. The Shropshire Hills cover a quarter of Shropshire and is an Area of Outstanding Natural Beauty, ideal whether you want to go for a walk or relax and take in the stunning countryside.
If you want to escape a big city but don’t want to give all of it up, Wiltshire can be a good choice. There are picturesque villages, busy market towns and the medieval city of Salisbury to choose from. A move here can help you strike a balance between rural and some of the amenities you look for in a city. It’s also home to three Areas of Outstanding Natural Beauty (The Cotswolds, Cranborne Chase and West Wiltshire Downs, and the North Wessex Downs) so you’ll have plenty of beautiful landscapes to take in.
If you’re dreaming of setting up home near the sea, Cornwall is a top choice for many, and it’s long been popular with retirees. Cornwall is rich in character and history. It could be just the place you want to retire. The beautiful beaches and slower pace of life are often what attracts people to Cornwall, but there’s plenty to explore away from the coast, including bustling towns and historic sites.
Heading to the North of England can mean living in a hotpot that’s filled with history. Did you know Northumberland had the largest number of castles in England, as well as being home to large parts of Hadrian’s Wall? On top of this, you’ve got beaches, expansive areas of countryside and public transport options if you want to visit major cities. If you’re looking for a rural lifestyle but don’t want to be too far away from city attractions, Northumberland can help you strike a balance.
6. East Suffolk
Suffolk boasts untouched beaches, stunning landscapes and plenty of cultural heritage. Moving to East Suffolk means you’ll have a choice of seaside towns with bustling harbours to choose from. Alternatively, there are market towns and quaint villages too, with forests and fields just beyond your doorstep to explore while still having a taste of urban living.
Once again, Tendring is on the coast, offering beautiful views of the sea and beaches to explore. The Essex district includes seaside towns or the Roman-founded town of Colchester if you’re looking for a home that isn’t rural. There’s plenty of history to explore as well as nature reserves in this part of the country, offering a laid-back lifestyle if that’s what you’re looking for in retirement.
Weighing up the cost of relocating
While you may want to move in retirement for a better lifestyle or the location, your finances will no doubt play a role too. It’s important to weigh up the costs of moving and the impact it’ll have on your retirement plans. In some cases, moving home and settling into a new location can free up capital to help fund your retirement. In others, it may be more expensive. If you’d like to discuss your retirement plans and finances, please contact us.
Please note that the information provided in this article was correct at the time of publishing.