Did you know that there is a growing sector of the new homes market in the UK that focuses specifically on the provision of homes for older residents, as well as retirement homes?
Whether you are looking to downsize and live in a development that is exclusively available to people over a certain age, or whether you are in need of greater support and the provision of care services, purchasing a retirement property could be a great option for you.
Age-exclusive
This type of development requires buyers to have a minimum age limit, usually 55 or 60. If you are purchasing as a couple, only one of you needs to be over this age, while the other can be younger. Age-exclusive schemes are for people who are able to live completely independent lives, have no medical or care facilities, and usually no communal facilities. If you would like to live in a development with people of a similar age group, who are unlikely to have dependent children living with them, this type of development could be the perfect match for you.
Retirement living/later living
If you are looking for a little more security, retirement living or later living could be an option. As with age-exclusive properties, there will usually be a minimum age limit, usually of 55 or 60. Retirement living will offer a 24-hour emergency call line that you can use if you are in need of immediate help. In addition, there will probably be a manager on site at least five days a week. You will also be able to enjoy some communal facilities such as cafes and sitting rooms, or even a guest suite that can be booked for overnight visitors. This type of development can be suitable for people who still maintain their independence, but would like to be able to obtain help if they need it. However, there will not be any medical facilities.
Assisted living
The older people get, the more likely it is that they will need greater care and support. If this is what you require, you could purchase a home on an assisted living development. There is usually a minimum age limit of 70 for this category of development. You can enjoy the comfort and security of homeownership, along with the provision of the assistance that will allow you to live reasonably independent lives. Residents can create a support package of medical and domestic assistance that will suit their individual circumstances. There will also be communal facilities such as a restaurant, so that you can enjoy the sociability and convenience of having meals provided for you.
Extra Care
Extra Care developments cater for buyers who have the greatest level of needs. If you require 24-hour medical assistance to your needs, this might be a great option for you. You will also be able to benefit from a number of other communal facilities so that you can socialise with other residents.