How to choose your retirement property

Sumo

Whether it’s because of friends, family or downsizing, a lot of people choose to move house when they retire. Deciding where to move to and what sort of property to buy can be difficult, with many retirees facing a whole host of changing requirements and needs.

If you’re considering a move closer to the kids or the countryside, here are the top five considerations to keep in mind when choosing your new property.

1. Location

Just as with any property purchase, one of the most important factors when buying a retirement property is its location.

Most elderly people either want to stay in their own community or move closer to friends and family. In fact, moving somewhere unfamiliar is one of the biggest concerns for those considering downsizing.

Fortunately, companies like McCarthy & Stone are providing a solution by building more and more high quality developments in locations across the country.

2. Facilities

The facilities that you need now and those that you’ll need in ten or even twenty years are very different, and when buying a property it’s important to ensure that it can provide you with the support you need as the years go by.

Most high quality retirement developments contain both retirement living and assisted living communities, so if you need more support as the years go by, you won’t have to move too far to get it.

3. Setting

When we’re young, most of us want to live in the city, right in the middle of the action. However, as we get older our priorities change, and when searching for a retirement home, most of us look for peace, tranquility and a little bit of space.

Having a town or city close to your retirement community is of course a bonus as it allows you to get to the doctor’s surgery, the shops and the bank quickly and easily. But try to make sure you’ve also got a park or green space close by for when you want to feel a little closer to nature.

4. Accessibility

If you won’t be living near friends and family, it’s important that they can still come and visit you easily, so ensuring that your new home has good transport links is important.

5. Price

Finances are important regardless of age, but making sure that you’ve got enough funds to see you through your retirement comfortably is a must.

Most retirement properties are very competitively priced and by downsizing you can free up some of the equity held up in your current property.

The huge increase in retirement communities across the country has made finding your perfect property easier than ever. So if you’re considering a move to a specially designed and built development, now’s the perfect time to do it.

Source:

https://www.bbc.co.uk/news/education-24050607