Pros and cons of ‘retirement’ properties. Advice please friends.

Thankyou for your replies you have been very informative and helpful . 😊

Freshair

Sorry to hijack this thread but I've often thought about downsizing to a park home, these developments seem to be popping up everywhere. So there must be a market for them. You get a new home, fully fitted with garden space and they tend to be gated. Has anyone had any good or bad experiences living in one? Sorry again for hijacking

We've had several threads about 'park homes', and I think you would do better:
Firstly search for them, a lot of your queries may be answered.
Secondly, if not, start a separate thread about them.

But anyway, here's my 2 penn'orth:

They seem to suffer from many of the points raised in this thread - maintenance fees, some difficulty selling on, and in park homes case, sometimes a fall in value.
Having said that, they suit a lot of people. I have 2 friends who live (separately!) in park homes near me. They are both in lovely caring communities (I use the word 'care' in a general sense meaning the other residents are nice & helpful). They are in lovely settings, with wildlife on the doorstep (literally) and both able to access cycle paths and bus routes easily. One has a spare bedroom, the other puts visitors in a local B&B who do special rates.
The modern ones are well insulated, meaning that costs are kept low, but I know some have specific problems around the site organising heating fuel, which gives residents less control over costs.
The main advice seems to be to look at individual developments, as they all vary hugely, not just in quality, but specific terms & conditions as well (some need you to vacate the property for a set number of days a year). And get specialist, independent legal advice.

My step Mum lives in a Churchill retirement complex and loves it. Her service charge includes her apartments heating and water, maintenance of the building and grounds, cleaning communal areas, a 9-5 lodge manager..between the residents themselves they have weekly get togethers,ie: movie night, tea and cake afternoons, wine and snacks evenings, plus bingo, quizes, lunches..the manager will organise a Xmas meal out, a summer BBQ etc which residents pay for it they choose to go. All in all it was a really good move for her.

Nannarose, please dont confused park homes with holiday homes like "statics". The rules for each are very different! Residential park homes are exactly that and the owners have a lot of "rights", including living there permanently. Owners of
"caravan" type holiday homes have far less legal rights, are not supposed to live there permanently, and can only have their "site" for a certain number of years. Anyone interested in either type, needs to check the legal side of things, very carefully indeed.

nannarose

This may or may not be useful...

www.bbc.co.uk/iplayer/episode/m001x7pb/panorama-the-mobile-home-swindle?seriesId=unsliced&page=1

Hundreds of thousands of people own mobile homes and caravans in the UK, but some discover they don’t have the right to call them home. Reporter Rory Carson meets the caravan park residents who say they have been mis-sold their properties and falsely promised they could stay in them for the rest of their lives. And he investigates the site owners who have been accused of cheating people out of their life savings.

Thank you for pinting that out, but I haven't myself, confused them at all. However, as lots do, it is easier to say 'check individual developments' especially as rules vary anyway.

sorry nannarose, my last post should have been aimed at freshair, not you!

Easily the best option is to downsize to a bungalow or flat while you are still fit and modify it for easy living when you are less able, you will then be able to sell for the full price quickly

The problem for both of my friends is that neither could possibly have afforded a bungalow, and only a flat in an urban area.
Both are very happy in their properties, which are well run. The main risk is the management company changing, as for future sales - well they take the attitude that it's not their problem! These are risks they run in order to live comfortably and happily at present.
We all choose which risks or gambles suit us! The main thing on this forum is to help people see them clearly.

Thanks Nannarose for posting and thanks very much Teach, I will watch that Panorama programme with interest as I am curious why anyone would buy a park home that hasn't got planning permission for permanent residential use for 12 months of year.

I couldn't live in a flat below anyone or a terraced house...too noisy. I'd agree with detached single storey accommodation, preferably with a decent degree of separation from neighbours. Nice if you can afford it, or there's always a park home

Well, one of my friends is in a development that allows all year round residency. The other is in one that is designated a 'holiday home' and she has to vacate it for one whole month a year (in her case, any single month). She usually spends February with her daughter who lives in Southern Europe.
There is a development near here where the 'one month' doesn't have to be whole - so any night away can be counted. The site manager keeps a log.
I hope you find something to suit you Freshair

Freshair

Thanks Nannarose for posting and thanks very much Teach, I will watch that Panorama programme with interest as I am curious why anyone would buy a park home that hasn't got planning permission for permanent residential use for 12 months of year.

Holiday Homes , or Park Homes are often lived in permanently, in practice the councils can’t do anything about it because if they get you evicted they have to house you. Also if you’ve lived there for 12yrs you can get them adopted as a dwelling, or if it’s a caravan a building site.

All of which has little relevance to downsizing when the choices are a leased retirement complex or a smaller house.

A great aunt of mine chose a retirement complex, no children, so paid the bills and enjoyed the security and services, what was left of her estate went to relatives overseas.

The development must have been granted planning permission for permanent residency and it's your solicitors job to make sure this is the case. Buyer beware

Downsides of a mobile home can be that if the nice owners sell, no guarantee that the new owners will be nice. Sometimes they can make life hell for the residents, it can be a bit like living in a mediaeval village, with a feudal landlord
With retirement flats, there is no guarantee that even older people will be good quiet neighbours, a friend has experience of this unfortunately. And the flats don't always stay in the same ownership who don't always give you what was promised.

Charleygirl5

Franbern has made a few good points and the service charges are always going to go up and eg if the roof needs to be replaced, you would be asked to pay for a % of that.

I also would buy a "normal" flat and you would have a lot more money in your bank account.

It will cost you more but buy somewhere near shops and public transport because eventually you will have to give up driving.

Very good advice Charleygirl5 🙂

I was thinking of going to a similar place in the u.k. rocketship. Not sure if I am allowed to mention name, but you rent on a monthly basis and can live independently or pay extra and have meals, care etc.
Am hoping to sell my house soon. Have found the information really helpful in making a decision and am also horrified at some of the downsides and costs of retirement flats. Really eyeopening.

Wish there were more retirement rental here, it could be an answer to all those unsold ones. I wouldn't buy on, no way, but would consider rental if affordable.

Exactly Charleygirl5. Imagine being stuck with no transport, mixing with the same people day after day. Being able to walk to a coffee shop or wander around the shops on a rainy day and meet those outside your own circle is so important. I like the idea of these tiny homes but they always seem to be in the middle of nowhere.

The extra-care apartment we are currently buying, completion date is tomorrow, is in a privately owned development of 26 which is in the grounds of the care home the family also own and run.
The current manager is the third generation of the family who started it all.

There is a dedicated in-house care team on site 24 hours a day as required.
A friend's two aunties shared an apartment for several years and I visited them so I've seen how it all works.

It's a 15 minute walk into town where there is a lot going on.
Bus stop is a few yards from the gates.

My Dad (93) has lived here since 2018.
At first he was independent, had his car and went out and about exploring as he'd moved here from the south coast after Mum died.

Over the last few years he has been diagnosed with vascular dementia and is gradually deteriorating.
The care team have stepped in as and when required and do a lot for him now: meals, medication, shopping, cleaning, laundry, some personal care and take him to medical appointments if we can't.
They are a huge support to my husband and I.

We are going to rent out the apartment for now.
We'll downsize to it in a few years time when I have finished childminding and when our 13 year old dog is no longer with us.

We have a lot of Alzheimer's/dementia in the family so it's future-proofing for us.
My Dad says he feels safe living there.