When Phil and Jennifer Riley retired, they started to think that they wanted to downsize from their three-bed detached home – but they knew they only wanted to move once, so they set their hearts on finding a bungalow.
But when the couple in their 60s, from Nottingham, started searching, they were shocked to find there was a huge scarcity of bungalows available in the area.
Any that they did find were as expensive as larger houses and were often still in need of significant renovation, which they didn’t have the energy or money to undertake.
“Once we retired, we decided we wanted a bungalow to future-proof the need to move later in life if we became less able, or if one us was left on our own,” Jennifer said.
“We were ideally looking for a new-build or something modern, as we didn’t want to start over again with an older bungalow and all the inherent rebuild and disruption of bringing it back up to standard. But there just weren’t any around.”
Months turned into several years of searching until one day, they happened to be speaking to a friend who mentioned a new-build development in the nearby village of Collingham, which was building 60 bungalows for over-55s.
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The couple immediately went to view one and snapped up a plot for £290,000 – slightly more than the house they sold – and they recently moved into the newly-completed village.
The average house price in Nottinghamshire was £261,668 last year, according to Rightmove data.
“We found our bungalow through talking with a friend who was interested in the first phase of the development and thought it worthy of further investigation, and we immediately loved it,” Jennifer added.
“We were so glad to be able to make the move while we were fit and able enough to do so together.”
Phil and Jennifer are among millions of older people struggling to find a bungalow, as demand for this type of home continues to hugely outweigh supply – a problem that is set to only get worse amid an ageing population.
Recent research by McCarthy Stone found around five million older people are looking to buy a bungalow, but there are only around 2.5 million bungalows available in the UK, according to government data.
Supply is not increasing to meet that demand. Bungalows accounted for around 11 per cent of new homes built in 1990, but that fell to just 1 per cent by 2024, according to data from the National House-Building Council (NHBC).
This has prevented a growing number of older homeowners from moving, with more than 1.2m homeowners aged 55 or over shelving plans to move in the past two years, according to HomeOwners Alliance.
Steff Wright, founder of Gusto Construction, a housing developer aiming to build more bungalows, said: “Right now, the lack of bungalows is seriously stifling the housing market and leaving older people in homes better suited to another demographic.
“Developers typically avoid bungalows due to the reduced return per square metre – they require more land per home and the building costs are higher, therefore they need to be sold at a premium,” he explained.
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“But ultimately, we want older people to be independent for as long as possible and therefore they need to be in a house that is accessible and comfortable for them. It’s crucial that developers build homes suitable for all demographics.”
Chartered financial planner Natasha Etherton added that people often mistakenly think that downsizing to a bungalow will save them money, when in reality they can often be more expensive than regular homes.
“Downsizing to make later life easier would ideally free up funds, but it might not always do so – a bungalow in your local area often comes at a premium,” she said.
How to find a bungalow
Demand for bungalows is expected to continue increasing, meaning there will be even more competition to find one.
One way to get ahead is to build relationships with estate agents in the areas you are looking in and get notified about homes for sale before they go on the market, according to Angela Kerr, director at HomeOwner’s Alliance.
She said: “The more you get estate agents on your side, the more they are likely to help you. They may give you forewarning of properties that are about to come on the market.
“Another good way of finding a house to buy before it goes on the market is to leaflet your target area. Put notes through people’s letterboxes telling them about yourself and asking if they intend to sell.
“Many people are very keen that their family home goes to a family, not a property developer, and the seller may be tempted to get in touch and sell directly as a way of avoiding expensive estate agent fees,” she added.
Consider looking for developers specifically building bungalows, such as Gusto Homes, and contact them to find out about upcoming developments.
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