Retirement homes

Have you considered selling the house and renting a bungalow OP? Do you really have to stay in your present location too?

I live in a normal block of flats (25 in all - built in the 1980's) We are very close to town centre, with theatres, cinemas, beach, park, shops, library, etc.etc.
Good sized flats all with two bedrooms and bathrooms. No age restrictions on who purchases them, although nearly all owners are retired or close to that age. Ground floor is
entirely taken up with our garages and we also have a small car park for visitors, tradespeople, etc.

Managed by ourselves - all volunteers, keeps service charge fees down and ensures all jobs are carried out properly and quickly.
No problem selling them, indeed have people waiting for them to come on the market.

Our flats sell for less than the local retirement ones, although these are so much smaller than our flats Whereas we do not have a communal lounge, we have a large, well looked after foyer in which we hold the occasional meeting/tea party/coffee morning, etc. People here form friendships and only yesterday six of us went out for Sunday lunch together.
Being so close to all the local town amenities it enables us to have lots of interests all easy to get to.

Our service charge is nearly half that of the local retirement properties. All our flats are owner occupied, we very much discourage 'lettings'. Obviously some people here have carers who may come in daily, etc. Flats being sold do NOT have to pay anything from that sale to the Management company - as they do in retirement properties.

Sadly developing Dementia would probably mean going into a Care Home even if she had stayed in her previous home.

I really hope I go before I need a retirement flat. I do know of two peope who moved into one and they love the security and safety aspect and mixing with other owners. Their family just want them happy and that's what the money is there for. However one is developing Alzeimers and family been told she will heed to go into a home eventually as it does not do caring.

I have a friend who recently sold her 5 bedroomed house and moved into a 1 bed room retirement flat. She is very happy with the move and relieved to be rid of the burden her house had become.
She has a large amount of cash left after the sale of her former property and is no longer having to pay for a gardener ,window cleaner etc which is included in the service charge she pays.She has no regrets and feels safer where she is.
I would consider one myself if I felt the need

This is a 10 min YouTube clip taken from the BBC programme Rip Off Britain. The programme regularly receives complaints about retirement flats .

youtu.be/8U6IqaYSEC0

If I could afford I would move into one . I think buying is a mistake because of maintenance payments ground rent. I don't have the income to pay this . Renting is a bit better if I sold though I would imagine the rent would be high and eat into the money I had from selling . I think they are often out of reach of the average pensioner

My mother is in a retirement property and has been for 11 years . She moved from a 4 bed house with large garden and reliant on a car to a 2 bed ground floor flat , minutes from a busy high st .
We looked at ground floor flats in the area but my mother was concerned about the other residents. As they would be all ages She’s been very happy there . She’s met people and made friends. Her development is 15 years old and only has a communal lounge in its facilities. So her annual fees aren’t too high . The resale is a worry as there are a few new retirement properties built nearby but mums being ground floor and over looking the gardens is one that’s sort after .
Luckily my mother is financially very comfortable and yes we will have to pay the fees until it’s sold . But my mother’s happiness and welfare is more important.

I know this is a digression but.....

Retirement flats seem to sell like hot cakes when they ae brand new and fresh from the developer, so why are those on the resale market so difficcult to sell. It doesn't make sense.

In the town we now live in there is one area, just at the top of the High Street that has become the Senior Living uarter. There are at least 3 retirement developments cheek by jowl and a 4th being built. Interestinglyy, severalmof these developments have houses as well as flats.

The resale difficulty is surprising since one wld think demand is high.
If it’s right for the person who moves there that should surely be sufficient even if it means that children have reduced inheritance, as with care home fees.

I know it wouldn’t help the hill but could you close some of your house off as you say full of stairs and steps Instead of the expense of moving could you have some alterations done to make it easier living perhaps a lift or stair lift added
Personally the thought of a retirement home would be so low on my list as to be non existent
I live in a far too big house with two flights of stairs but if I become more unable I d consider a stair lift as I do not want to leave my home

I think both Michael12 and grandMattie are in this type of dwelling - maybe you could PM?

I wouldn’t buy a retirement flat, especially if you have children. It hardly ever increases in value (so I’ve been told) and maintenance charges are extremely high and increase every year.
There will be others who will give you far more useful information.