Selling the family house and moving to a modern, secure, purpose-built retirement home is becoming an ever more popular option for the UK’s millions of older buyers as they look to enjoy a more relaxed and serene retirement and swap household chores for a life of travel and fun!
And with more people in Britain drawing a state pension than there are under-16s, the ‘baby boomer’ generation has impressive financial clout.
According to Age Concern, it is estimated that over 65’s hold more than £460billion in un-mortgaged equity. Many are now looking to unlock this and swap the family home, with its higher maintenance upkeep and perhaps a time-consuming garden, for the freedom of a new retirement apartment. The removal of responsibility, lower running costs, companionship, well-being and security a scheme built with the needs of older people in mind brings to both the occupant and their family results in far more stress free life for all .
Many use the released equity and spare time to go travelling and pursue hobbies, or to develop new skills such as computing, a field in which high-spending older buyers have become known as ‘silver surfers.’
There are many retirement developments across the country, from straightforward ones offering a communal sitting room, gardens, laundry room and on-site house manager to retirement villages with features including a swimming pool, spa, bistro, library, computer room, on-site GP surgery and shopping.
Gary Day of the Home Builders Federation’s Retirement Housing Group says today: “There really is a wide range of options for people in their ‘third age’. Moving to a retirement complex, purpose built to meet the needs of older people who no longer find their existing home suitable, provides real peace of mind for both the resident and their family. And freeing up the equity from the family home allows people to really enjoy their retirement and do the things they never had the time to do when they were working.”
Developments are always within easy reach of public transport, shops and medical centres and for someone who has lost a partner, being single in a welcoming community can be a real boost.
New Homes Week 12-20th September 2009See Also: Property News (0), New Homes Week (0), Retirement (0)
Date Published: 11 September 2009
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