Most retirement flats tend to hold their value and therefore sell at a similar price to that of when you bought it. Buying a retirement flat could be seen as an investment into your happiness and lifestyle, rather than as a ‘money-making’ investment.
What is a retirement village UK?
What is a retirement village? Unlike in a care home, retirement village residents usually buy an apartment on the site, although in some schemes they can part-buy, or even rent the property. Residents bring their own furniture, decorate as they wish, and are free to have friends and family come to stay.
What are retirement flats?
Put simply, retirement property is property available to people of a certain age. This is usually age 60 or over. However, you can find property marketed for over 50s or the over 55s. These properties are intended for people who can live independently. Also they might want to live near people of a similar age.
Who owns Churchill retirement homes?
Clinton McCarthy
Churchill Retirement Living is built on integrity and trust. We are proud to say we have a trusted, quality product. Churchill is independently owned by Spencer and Clinton McCarthy, so family values are embedded throughout the business, meaning passion, pride and quality underpins everything we do.
Why are retirement homes hard to sell?
If the nation’s population is getting older, why are retirement properties hard to resell without losing money? There are several factors: The new-build premium. As in the wider housing market, brand-new properties tend to command a higher price.
Do retirement villages have gyms?
A retirement village will often offer a range of activities and sporting options. Smaller villages may have a gym on the property and offer yoga or pilates classes for residents. Larger estates will often have a whole host of sporting facilities.
What are the disadvantages of buying a retirement flat?
Cons
- The purchase price.
- There will be a service charge and ground rent.
- They are frequently leasehold.
- Exit fees.
- Resale value is often far lower.
- Not every retirement property may cater specifically for your needs.
- Sometimes they are just ‘not for you’.
Are retirement villages worth it?
Because retirement villages are purpose-built for older people, they offer many lifestyle and practical benefits. Residents enjoy a strong sense of community, feel safe and secure and can enjoy more quality time with family and friends.
Who is the CEO of Churchill?
Spencer J. McCarthy, Chairman and Chief Executive Officer Having co-founded Churchill with his brother, Clinton, Spencer is responsible for the strategy and growth of the business with special responsibility for land, planning, design, marketing and sales.
Who founded McCarthy and stone?
John McCarthy
1960s and 1970s John McCarthy and Bill Stone enter into partnership in 1963 and the McCarthy Stone story begins. Early work focuses on building houses and bungalows for the open market.
