tips, news and advice

Helping you Plan for Retirement – Part 1

Published: 20 May 2019

As we grow older, we have different decisions to make at different stages of our lives. When we reach retirement, we could choose to live in a bungalow, flat or retirement development.

Retirement developments can differ slightly, but they mainly differ due to the age of the resident and the retirement development itself and the facilities available. These are designed to cater for that age group, giving residents more time to enjoy life.

Do I have to be retired to live in a retirement development?
There is a myth that you must be retired to live in a retirement development, but’s that’s not true. You don’t have to be retired to live in a retirement development. Many people continue to work while living in a retirement development.

What are the different retirement developments?
There are two main retirement developments: retirement living and assisted living. Retirement living is where the flat consists of a 1 or 2 bedrooms with a hallway, lounge, kitchen, bathroom and there is a communal lounge and usually a guest suite. The age criteria for residents is usually 60 years old. However, if you have a partner who is 55, you are usually allowed to purchase upon that basis.

The second is assisted living. This is where the retirement apartment consist of a 1 or 2 bedroom flat with a hallway, lounge, bathroom and kitchen, however, you get a few additional facilities like an on-site restaurant, communal dining room, communal lounge, function room, guest suite and staff are on hand 24-hours per day. In addition. the service charge includes 1 hour or domestic assistance per week. The age criteria for residents is at least 70 years old.

Why choose a retirement flat?
People make this decision for many different reasons. Simply because their current home is too big and they want to downsize so there is less to look after, or simply because of ill health and they need a bit of extra care whilst maintain an independent lifestyle.

“I downsized from a 3-bedroom house to a Retirement flat in a lovely retirement development. I was mainly looking for security and company and I’m very happy.”
Emma, retiree

Check out the retirement flats we have for sales across England.

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