According to UK homeownership statistics from the ONS, nearly a quarter of 55–64-year-olds own their home outright; 38% of which are single occupiers. Young at heart, Kate (62), has joined the ranks of mortgage-free, single downsizers, moving into her two-bedroom home, at City & Country’s Manningtree Park, after deciding it was time for a new beginning.
Kate had been living in her former marital four-bedroom detached family home in neighbouring Suffolk, for the last 22 years, with her two now adult children, and Tilly, the deaf cat. Realising her current home needed more work than it was worth, Kate decided to look to downsize. “My life is for living!” Kate said, “I’ve recently turned 62, but if I’m honest, I act and feel as though I am more like I’m decades younger! I’m a firm believer that life is most certainly for living and I didn’t want to waste another second to start my new life, or sink more money into maintaining an older property”
She added: “Originally, the plan was to move closer to Northamptonshire, where my elderly father lives. However, over the summer I was diagnosed with cancer, and my priorities suddenly changed, and I needed to be nearer to hospital and close to friends. So, after having this life-altering realisation overnight, I decided to search for a new home, which is where I found City & Country’s Manningtree Park – only eight or so miles down the road!
Originally, Kate considered a three-bedroom home and viewed several options before choosing to go with two-bedrooms. “My son has moved to London, it’s only me and my daughter, and she will come and go as she pleases, so I thought I’d follow suit – I did this move for myself. I didn’t see a point in paying an extra £50,000 for an extra bedroom for people to stay in; it will only be used as a storage room for much of the time.” Said Kate.
Externally, homes at Manningtree Park have been thoughtfully designed to reflect the architecture of the local Essex area. The wide variety of homes at the development, including apartments overlooking the village square, mews-style houses and large family homes, make the development the first choice for a range of buyers, from families looking to upsize and downsizers searching for a lower maintenance home, to commuters moving out of London.
The villages of Mistley and Lawford and attractive market town of Manningtree, are all within walking distance, with Manningtree, included in the Sunday Times Best Places to Live offering a plethora of pubs and restaurants.
“I’ve always loved Manningtree as an area, I’d always drive to Manningtree to get into London Liverpool Street when I lived in Suffolk, so, I’m very familiar with it. The area makes me feel as though I’m somewhere in Cornwall with the estuary nearby – it’s beautiful.”
After downsizing from a large four-bedroom family home to a two-bedroom terrace house, this proved a smooth transition for Kate and her daughter. “The downstairs square footage Manningtree Park offered, was a large selling point for me. Despite halving the number of bedrooms, we have enough space for us and if friends and family come to visit, we can make it work,” says Kate.
Kate has also found a community, without knowing it. “A lady I knew and worked with some 40 years ago, lives just around the corner. I also invited my brother to Manningtree Park to show him around the development; I’m near the sheep paddock so wanted to show him the rare breed sheep too, we bumped into my old boss from 22 years ago, from when I first moved down here – she had moved in in April!” Kate explained. “It really is such a small world!”
Kate’s buying process was quicker than most, as she underwent surgery in early July and moved into her new home in late August. “I managed to sell my home in three days – it was all a bit of a whirlwind.” Kate commented. “A few of the houses I had viewed were just out of my price range, but suddenly one I could afford became available, and I decided to go for it. It has all been a been a bit crazy really, but a fresh start is exactly what I needed”, She added.
Shelley West, Group Director of Sales and Marketing at City & Country comments, “Downsizing your home doesn’t necessarily mean downsizing your lifestyle. On the contrary, for Kate, it’s very much the opposite. Locations on the east coast, such as Manningtree and Mersea Island for example, are a huge pull with the later generation looking to free up some equity and make a fresh start in a beautiful side of the country. Now that she’s mortgage free, Kate can enjoy all the wonders Manningtree Park has to offer, without compromising on space.”
Once complete, Manningtree Park will deliver 484 craft-built homes: one and two-bedroom apartments and one, two, three, four and five-bedroom family homes across five-character phases. A natural playground, off-lead dog area, and a paddock with rare-breed sheep are already in situ with several village squares and over 11-acres of landscaped parkland for residents to enjoy still to be delivered.
Homes currently available at the development start from £325,000 for a two-bedroom mid-terraced home and up to £1,000,000 for a five-bedroom detached home. For more information visit www.cityandcountry.co.uk or call 01206 598927.