Residents must usually be aged over 55 or 60. Most retirement housing is sold on a leasehold basis. This means you have a tenancy granted for a long period of time, for example 99 or 125 years. Many new-build retirement properties now come with 999-year leases.
How do you qualify for a retirement property?
To be eligible for sheltered housing, you or your partner must be over 60 years of age, or over 55 if registered disabled, and in need of housing support. Households with an income of less than £60,000 or capital assets of less than £24,000 are eligible to apply.
Where can I find retirement homes for sale?
Rightmove’s retirement homes search facility allows you to find housing designed specifically for older people Assisted living and other resident friendly features are on offer at these developments, which are designed to cater specifically for the needs of the retired and help maintain freedom and quality of life.
Who is the biggest builder of retirement flats in the UK?
McCarthy & Stone is the biggest builder of retirement flats in Britain, with 1,200 developments across the country, and sales of about £700m a year, but has faced repeated accusations of poor resale values.
What to consider when buying a retirement home?
This factsheet explains options and issues to consider if you are thinking about buying retirement housing. This is specialist housing for older people, which can be either ‘age exclusive’ or offer some level of support or care.
How many years does it take to sell a retirement home?
Most retirement housing is sold on a leasehold basis. This means you have a tenancy granted for a long period of time, for example 99 or 125 years. Many new-build retirement properties now come with 999-year leases. A lease reduces in length unless it is extended, so after 30 years a 99- year lease becomes a 69-year lease.
