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What is a Retirement Living Property?

Published: 24 April 2019

When thinking about downsizing your home, there are a few housing options available out there, such as a small bungalow or chalet, a Retirement Living property or a Retirement Plus (formerly Assisted Living) styled property. However, some of this terminology can at first sound confusing.

For the latter two, it really depends on age as the retirement developments, facilities on offer at those retirement developments and the services available for residents at the retirement developments are all designed around a particular age group. This makes life easier and more enjoyable for the residents living there.

There are two common types of retirement property available in the UK. These are: Retirement Living and Retirement Plus (formerly known as Assisted Living).

What is Retirement Living?
Retirement Living is a type of retirement lifestyle property, designed and built specifically for the over 55’s by retirement housebuilders such as McCarthy & Stone, Renaissance and Churchill Retirement.

These modern retirement apartment complexes are suited to people who want to enjoy their later years without the burden of maintaining a family home. The design features and facilities ensure that residents can remain independent well into their retirement without further disruption to their lives.

What’s on offer at a Retirement Living property?
Retirement apartment developments are very secure. You have your own self-contained apartment with a front door, but there is also a main security door with video intercom. There is often a property manager on-site to ensure guests are signed in. This means that you can go off on a long holiday or spend a few months in a warmer climate without worrying about your house being burgled or the pipes bursting while you’re gone.

Retirement developments have comfortable communal lounges and residents often have a committee to help manage the property as well as a social committee that organises regular outings and evening events.

As with most apartments for sale, retirement properties are leasehold. This requires a monthly service charge. But unlike a regular flat, the service charge includes the cost of providing a property manager, the security systems, repair and maintenance of the building and grounds, heating, lighting and electricity of the communal areas including the laundry room, water rates and buildings insurance.

Take a look at the retirement living apartments for sale near you.