Retirement savers tempted by buy-to-let. The Elderly Accommodation Counsel also carries details of properties for sale on its website. Generally you are responsible for your telephone/Internet, water, gas and electricity bills and insuring and maintaining the interior of your home. Fluctuations in market value, unexpected maintenance expenses, and insurance deductibles can … Put simply, retirement property is property available to people of a certain age. Retirement villages are fairly new in the UK. Check whether some of the service charge goes into a sinking fund to pay for unexpected costs. Registered in England and Wales Number 05335724. and expanding, market for retirement properties to buy across the UK. In a poll by YouGov for insurer Royal London, three in 10 people aged between 45 and 54 said they were considering accessing their retirement funds to purchase a buy-to-let property.. Royal London says that such a move can … Over a third of pre-retirees plan to change residences in their golden years, but what they may not realize is there are a number of benefits to purchasing a retirement house long before you’ve left the workforce. The property … Useful websites: The Elderly Accommodation Council www.eac.org.uk. ��Χ�g��n�zW��0���%���S��\�j�����XB�}.������@�C2e�H�)�j��! Housing costs will be part of your retirement budget, whether you rent or own. Retirement properties can be bought through shared ownership, which involves buying a share of a property. RESALE Retirement property is a specialist market and local estate agents will probably not achieve the same price for your two-bedroom apartment as for a similar property on the open market. LOCATION If you are moving to be closer to friends or relatives remember that you may also be spending more time at home, so the view from your windows should be as important as your immediate environment. But because of the age restriction retirement-designated properties can be harder to sell, and of course the maintenance charges still have to be paid even if the property is vacant up until the day you sell. That said, buying property in the UK as a foreigner is easier if you are a cash buyer – i.e. However, it will depend on the developer of retirement properties. The average age at which people move to a retirement property … ground floor flat only). However you do want to be within walking distance of the shops or the bus. Some are set up as not-for-profit companies. A quick sale can be important, as service charges must continue to be paid until the sale goes through. CARE People without medical problems might opt for a site for the active retired where extra care can be bought in privately, if required. But for those who are less robust a village built around a nursing home such as Retirement Villages provides may be a better option. Best places to retire in the UK. There's no need to spend money or time redecorating and repairing your new property. Having said that there is a shortage of quality retirement accommodation so providing it is in an area where there is a demand you shouldn’t have any trouble. Pictured above is Painswick Village, a luxury Richmond Villages scheme in Gloucestershire built around a cobbled courtyard. It is always good to keep an eye on the management companies. ]z�"���wf�g�.���$ʂ��U ��J��;�3�� �d�y��_�7�����#���t� �d�°�2�1�H�^�=V��zi�������fyD�ꋺ�3��rF���r ��7�.�)֜/�q��7V�(nrã��(�. However, getting a mortgage for a retirement property can … Some developers like McCarthy & Stone offer a re-sales service. MANAGEMENT COMPANIES This is the organisation that runs the site and levies the service charge. Buying a property as part of your pension. If you choose sheltered housing see if there is a leisure centre or local pool nearby so you can enjoy their facilities without paying a hefty service charge and depending on your age you may benefit from a free bus pass. ?����!6�p8���YBM�� d��U! Affiliations: ARCO; HBF; Housing Ombudsman Service; The Property … McCarthy & Stone, the largest retirement home developer, offers two types of accommodation: independent or assisted living. There are only about 550,000 private retirement properties in the UK. These … I need some advise on buying a property with an over 55 years age restriction on the resident. SECURITY All retirement housing should be secure. You can’t hold a buy-to-let property through your pension because it is classed as residential property, but you could pull your money out of your pension and use it to purchase one. However, you will have to pay ground rent so you’ll need to work this into your costs. 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