Sheltered living/Active retirement apartments, Good idea? (3 Viewers)

[MaidinDevon]

Does anyone have experience to share, good and bad?
Currently in a nice flat, but second floor, and no lift and it's getting tiresome, especially when loading or emptying the van.
Lucky me, because I now qualify for age restriction property, so could buy a warden supported place. It's quite cheap on maintenance charges, and ages 55 plus I also live alone.
I don't have any mobility or health issues that need support at the moment.

I am considering a standard ground floor flat, with moho parking, but I mile from any shops, and no bus route or
an assisted living flat which is within .5 Mile of town, on a bus route, and there is a railway station. Also, U3A and a swimming pool, as it's a bigger town.

will I become a senior sleuth??? A la Richard Osman or get cabin fever due to the curtain twitching, can I live in OAP suburbia, I've never been keen on housing estates.,,,,,

I can't retire yet, but planning to in the next year or two. Will I want lots of social activities, once I have lots of time on my hands.

IN summary, am I being sensible and future proofing, or jumping ahead too soon. My previous MO would be impulsive and short term decision making.

 

[ChrisL]

Will you be buying or renting? If buying they tend not to increase in value as much as perhaps a regular property and if it's leasehold make sure there is a lot of lease left. There's normally a charge for the warden and the emergency button as well.

 

[Hawkstone]

My brother in law moved into a very nice block of retirement flats in Poole a year ago. I am quite impressed. Definitely a thought for our future. It’s spacious, warm, cheap electricity and they have a large community room that is used for various activities if so desired. It‘s well maintained and it’s close to town. What’s not too like ?

 

[hja]

My MIL bought into age restricted housing. A nice flat, car parking (although she didnt have a car) staffed reception, so no cold callers, bistro, gym on site, communal lounge lots of activities. She did take part in some things for a while until becoming more infirm. There was no compulsion, event benevolently, to take part.
If your current premises are beginning to get too much better to move now, while its a bit easier, health wise, than later when it becomes more difficult. How many times do you want to move? It seems to me that having options, as in your second option, is more future proofing. But then I am looking at it from being 71 years old, in a bungalow, with those various activities you mention in the town. We downsized 8 years ago to give us a bit of future proofing.

 

[starquake]

TBH the in-laws have semi-retired to a (static) caravan park rather than a assisted flat, but it has a LOT of simularities -> they own the static van and theres no 28 day max stay restriction, but the park does shut for February monday to Thursday ONLY during the year -> yes the "ground" rent is expensive (circa £5k p/a) + bills -> but they get a lot for it.
Gym/proper sized Swimming pool included, Spa, Sauna too.
Golf club membership £200 for both of them and it's on the park - included pitch and putt course without any extra cost which many in the park use daily.
Shop/newsagent on site for daily papers etc.
Evening entertainment every Fri, Sat, Sun night, sometimes x2 -> ie, 2 venues with different acts if the first one doesn't suit. Usually a band/cover band + a comedian every Sat minimum.
Bingo 3 times a week + Saturdays.
Kids entertainment for when they have the Brother in laws kids during summer all week.
Park not open to "renters", it's all owners only (ie, we can stay as we on list, but we can't take randoms with us).

And their friends live on the park too, and are similar aged. We have not taken the van up yet, but there is plenty of parking (enough for 3 cars on each pitch and theres a garden too, so you could get over 3... so a motohome would fit, and isn't against T&C's (we checked) providing you not sleeping in the van.

They do keep a room on a family members house for a perm address and for use in the Feb month, though that said they go to the Canaries most years in Feb (as it appears does half the park when you ask around). Moving to the caravan park in terms of bills is cheaper than their old house in part due to how badly insulaed their old property was (this time of year to March, it was costing £15-20/day in their last year of residence to heat/power).

Worth considering, and such static cost £30-50k to buy + the annual fees at moment.

My Nan went into a assisted flat, and hated it.. and it cost a lot more than what the in-laws are paying now and looking at with higher annual fees and less entertainment, it did have a common room. Similar age ranges at both -> with most at the caravan park being in the 55-75 age range, but the (modern) static vans are a lot warmer than "houses".

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[Janine]

ChrisL makes a good point. Where I live there are lots of retirement apartments for sale at less than the original value.

I suppose it depends on whether you want to spend, spend, spend or leave something to the family. My opinion would be to enjoy your life and sod the relatives

Proximity to stimulating activities would get my vote

 

[Brains]

Selling age restricted property on can be an issue.

My grandmother bought a nice ground floor place in a village, warden on call in the complex and regular optional entertainment/trips.

Over the next 5 years the onsite warden was moved to a central location about 8 miles away, and looked after about 150 residents in 4 locations.
Which meant that if someone had a fall after 5pm, help was at least 30 mins away, if they could alert someone,
or,
they were on the floor for the night until the check ups at 10am the next day.
The entertainment and trips also stopped, unless the residents organised it themselves.

We then moved my grandmother into a residential home, and put the house on the market to pay for the residential home.
She died 2 years later, it took another year to find a buyer, and the price paid was just over half what my grandmother had paid 8 years earlier.

Personally I think I'd be looking for a nice single story property in a place with excellent transport links and very close to shops and entertainment.
But I think the idea of being in your 'final' house in your mid 50's to mid 60's is a good idea.

Too many people leave it until they are in their 70's which is too late to make a new social circle.
And once you realise the mistake, you are probably too old, too unfit, and not rich enough to move back to where you came from.

 

[irnbru]

Did I miss how old you are now? It might influence my reply.

 

[Brains]

Did I miss how old you are now? It might influence my reply.

OP was over 55 but under 67

 

[Spriddler]

I am considering a standard ground floor flat, with moho parking, but I mile from any shops, and no bus route

So how would you get to work - in the m/h?

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[G-RMPS]

We moved to a McCarthy and Stone retirement complex 4 years ago. Maybe too early, but it’s now a 10 minute walk into Perth city centre - previously in a village with no facilites and no bus service to speak of, 15 miles away.

Downside was just parking for one car. We had to sell one and move the moho into a Storage compound 4 miles away. Still investigating how to supply electrons to an electric car.

It’s a new building with modern facilities, communal rooms, and good insulation etc. But it’s all electric. Facilities manager on-site Mon-Fri.

It’s not a “carehome”, it’s advertised as “independent living”. However when we moved in at 70 years of age we were the youngest there. We were also the only ones who were not widowed, or a couple with one partner needing care. So not for everyone.

It’s not cheap for Scotland. £300k for a 2 bedroom flat freehold,100 sqm. Monthly maintenance costs are around £350.

It’s a great, secure base if you are mobile as we are. But for Covid we would have been away 6 months out of the year. Which is what we can now do.

 

[Simon Meadwell]

My folks moved into a assisted apartment.
Nothing for my dad to do im sure it brought on his dementia. In their previous house he had loads to occupy his mind.
Gardening or pottering in his garage.
Think carefully.

 

[Brains]

My folks moved into a assisted apartment.
Nothing for my dad to do im sure it brought on his dementia. In their previous house he had loads to occupy his mind.
Gardening or pottering in his garage.
Think carefully.

Hence my comment #7
Move to your 'final' property when you are still fit enough to do it, and build your social circle.
Ideally before either of you get to 70.

I think many of us on this forum will have friends and relatives who left it too late, they moved to the 'ideal' property by the sea (or whatever), and then realised, too late, they should have done it 10 years earlier.
They either end up in a lonely place, particularly when one spouse dies, and they try to move back, but the original property is no longer available and is way above their physical or financial means.
So they end up at the end of their life 'stuck' in the nice little bungalow by the sea.

 

[Nonna]

I think it really depends on how you like to spend your time & who with. We're all different.

As has been said, retirement properties are fairly notorious for being overpriced when new & hellishly hard to sell on.

I went for a coffee in the restaurant of a local Retirement Community &, although probably of a similar age to or possibly even older than some of the residents, I knew I'd hate it. It felt like God's Waiting Room.

 

[Cal54]

I made the move to a retirement complex last September and don’t regret it at all. I am probably one of the youngest in the building but I was determined to go through the upheaval of a move whilst I was still fit enough. It is a McCarthy Stone built complex and although the building is now over 20 years old the quality of the build is clear to see. It’s extremely well insulated for sound and the service charge is reasonable. There is a lovely communal lounge for coffee mornings etc, but no pressure to join in.
Because I was ‘future proofing’ I bought a place with the bus stop just outside and a few shops within walking distance , for when I give up driving.The only down side is no parking for my campervan so that is now in a storage facility. The dog has taken to the move well (3rd floor) and bounces to the lift whenever we go out!

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[scotzsue]

Might not matter to the OP but a nearby, complex for 'those able to live independently' does not allow overnight stays by family/children now i know that would be a blessing to some but would veto tht type of place for me, believe it is rental only, and charges are going up by quite a bit.

 

[Cal54]

scotzsue - the complex I have moved to has a guest suit, bit like a hotel room, which can be booked for visitors. Obviously there is a charge but it isn’t expensive.

 

[MaidinDevon]

Hi All
Thank you for your opinions and experiences.
I am 61, and 3/4!
It is a 2 bed flat, and the monthly costs only £156. It includes the usual gardening and maintenance.

There isn't a common room or any facilities as such not even a lift. There are care alarm pulls in every room, and a part time warden on site.

The prices are pretty static, but not very expensive, so I am not worried about that.

The kids will get what's left when I go! Apparently a lot of people still work.
I do Agency social work. Sometimes I can work from home, and sometimes I need to be in the office. I use the car for work, and sometimes live in the van. It's a peripatetic lifestyle! My last role was in Devon,

It has been very helpful to consider the benefits in moving while still fit and young ish!
I will want to get involved in the community when I have time, so it's sensible to be somewhere with more opportunities.

Karen

 

[Cal54]

MaidinDevon - good luck with whatever decision you make Karen.

 

[Otter Spotter]

We moved to a McCarthy and Stone retirement complex 4 years ago. Maybe too early, but it’s now a 10 minute walk into Perth city centre - previously in a village with no facilites and no bus service to speak of, 15 miles away.

Downside was just parking for one car. We had to sell one and move the moho into a Storage compound 4 miles away. Still investigating how to supply electrons to an electric car.

It’s a new building with modern facilities, communal rooms, and good insulation etc. But it’s all electric. Facilities manager on-site Mon-Fri.

It’s not a “carehome”, it’s advertised as “independent living”. However when we moved in at 70 years of age we were the youngest there. We were also the only ones who were not widowed, or a couple with one partner needing care. So not for everyone.

It’s not cheap for Scotland. £300k for a 2 bedroom flat freehold,100 sqm. Monthly maintenance costs are around £350.

It’s a great, secure base if you are mobile as we are. But for Covid we would have been away 6 months out of the year. Which is what we can now do.

Be very careful with McCarthy Stone and overs like them, there is a limited second hand market for them ( the age restriction can be different for each block of flats) and purchase prices always appear to be lower than what you bought for. I talk from experience as I have had a number of clients estates have lost money when selling the flats.
Also be careful that they don’t use a ‘Tame’ estate agent introduced by staff to sell it, as they will sell it cheaper as all the management company want is bums on the settee to continue receiving the regular service fees .

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[seasideBill]

My mother lived in one of these places… purchased her own flat within a ‘supported living’ complex. All meals, cleaning and maintenance included in a monthly fees. In theory scalable care services were also included but never worked very well in practice.
The biggest problem was the site owners regular attempts to increase the monthly management and care fees by well above inflation resulting in a fee strike & legal proceedings to make them compliant with the tenancy agreements.

 

[SpeedyDux]

Where does one purchase a revolver? When my time's up approaches, I want to go out with a bang! Not moulder away in God's waiting room.

Meanwhile, as long as I can lead an active social life, keep fit, and enjoy dance classes and events up to 4 or 5 times a week with lots of delightfully attractive young ladies, and play loud rock music whenever I want, there is no way I would move out of my current dump. Yes it is a dump, but it's MY dump. And I can park the MH on my drive. The neighbours are all lovely friendly people and we help each other. That's uncommon nowadays.

In my previous house I used to have to pay service charges based on made-up costs for fake services, until there was a residents' revolt and we took back control of the management company. Keeping a campervan or MH was prohibited. I have never looked back.

 

[martin2603]

We are now trying to sell my MIL ´s apartment following her passing last June. There are 3 others up for sale right now, all at less the purchase price . The developers Mcarthy Stone , Churchill and others have flooded the market and are trying all sorts of incentive to sell their apartments at twice the price of ours. The charges have trebled and are now £320.per month plus ground rent ,Council Tax and Electricity , you also have to pay into a contingency fund for internal maintenance, so monthly outgoings will exceed £500.00 . You also have to pay for your parking space.
,Personally I would never consider moving into this type of property as they have now become virtually unsellable. The retirement villages near us are very expensive , very nice if you have the means. Horses fro courses but I will stay put in my bungalow.

 

[carolyn]

It depends what you want out of life . My first thought is that you seem far too young for one of these places. For the right person at the right time they can be great though. I know of three people who they’ve worked well for but each of them were/are comfortably off so weren’t too worried about the any devaluation at point of death or moving into a nursing home(2 still alive!)

The Dad of a friend downsized and lived in a McCarthy Stone 2 bed in Sherborne for a few years after his wife died. He was already late 70’s. Carried on his very active social life, had been the Editor of the Western Gazette. Now deceased. Worked well for him.

We now have a fancy Platinum skies just up the road from me. Our old Practice manager moved in after her husband died. They had a big bungalow in ones of the villages. Shes bright as a button, already 80, still drives, daughter lives near. She loves it. Stress free. They have all sorts of facilities including a restaurant that you can use as much or as little as you like. Reasonable prices (fir Sherborne).

. Retired consultant also in there, his wife is in the Alzheimers place over the road, he can visit her every day, hassle free.

Not cheap but can suit very well. If I was on my own, in my 70’s , looking to downsize, I’d certainly consider it. We’re not practical. We spend a lot of money every year on our garden which we hate, general decorating and maintenance. Not everyone is practical.

 

[DandJ]

Interesting thread. Nothing to add other than, probably like many on here, my wife and I now look at life and the future somewhat differently to when we were in our mid 30s ..20 yrs ago. I hadn't realised just how much the monthly figures were for such as McCarthy and Stone. (Seems a shame that resident pay a chunk towards gardening when I imagine half of them would love to go and potter about doing some gardening each day)

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[davidroxburgh]

Apologies for quoting mid post.
The below post very well brings to life the conflict here between what suits you to live in and what happens when you die. The snags for your beneficiaries are considerable. Many leases compel a fixed percentage contribution of sale price supposedly to the benefit of the block. The sale price is often very poor and I had clients who eventually sold their Mum’s flat for way less than it cost Mum years ago! That is over and above the hefty charges incurred when selling a relatively modern flat by way of management info packs and so many other aspects of such a sale.

We are now trying to sell my MIL ´s apartment following her passing last June. There are 3 others up for sale right now, all at less the purchase price . The developers Mcarthy Stone , Churchill and others have flooded the market and are trying all sorts of incentive to sell their apartments at twice the price of ours. The charges have trebled and are now £320.per month plus ground rent ,Council Tax and Electricity , you also have to pay into a contingency fund for internal maintenance, so monthly outgoings will exceed £500.00 . You also have to pay for your parking space.
,Personally I would never consider moving into this type of property as they have now become virtually unsellable. The retirement villages near us are very expensive , very nice if you have the means. Horses fro courses but I will stay put in my bungalow.

On the other side what about you and what suits you? There are reputable retirement specialists and I would be happy to pm details of one such. Be cautious of block management companies and Google any such before you buy.

I would not do it but I am foolishly anxious for my kids to get as much as possible on my death. But then I am keen to minimise costs while I am alive! Sorry that this is a tricky subject with many pros and cons.

 

[carolyn]

Interesting thread. Nothing to add other than, probably like many on here, my wife and I now look at life and the future somewhat differently to when we were in our mid 30s ..20 yrs ago. I hadn't realised just how much the monthly figures were for such as McCarthy and Stone. (Seems a shame that resident pay a chunk towards gardening when I imagine half of them would love to go and potter about doing some gardening each day)

Most of the people in the high end ones don’t want to do gardening, they want to spend their time doing fun things. That sort of thing is classed as a chore to get rid of!
They do have flower arranging classes though.

 

[Carpmart]

My father died three years ago. His partner of 25years wanted to move house down nearer to some of her family on the south coast.

The problem was the house is equally owned by brother and I. She has a whole lifetime usage of the asset we own. I’m other words, she can live in the house for as long as she wants until she dies.

We wanted to enable her to move, so we assisted in her buying a freehold property in Muddyford near Christchurch using the proceeds of the sale of my father’s house. It’s a three bed two bath house in an over 55 development. With a downstairs dining room and full shower room, it could be used, if she needs to, as a one bed flat, ignoring the upstairs completely.

Shes 87, runs around doing lots of voluntary work, helps primary kids with reading, is in two walking clubs, plays table tennis and generally cracks on with life.

There is a £40 per month service charge for communal upkeep, but it’s a proper freehold property.

Looking at previous sales of these property’s (there are only 40ish houses in this development) they do well being 300m from prime coast.

Something like this could be an option for you?

 

[G-RMPS]

I hated gardening, especially as the garden was a 30 degree slope. A few residents enjoy gardening and do so, the majority are happy to have someone else look after the grounds.

Prices for secondhand flats are 5-10% down on new prices, but we bought secondhand so anticipate a subsequent sale won’t be a particular problem - not that I care. Our property, 50 flats, has a turnover for obvious reasons but there’s normally only one or two for sale.

Definitely do more research than we did before going into a McCarthy place, but most folk in our place, at least, are happy.

Once all flats on a new build are sold McCarthy no longer own the fabric of the building. They only provide a management service. If residents are so minded they can kick McCarthy out and find a more competitive service provider.

Adding to previous comments:

McCarthy retain 1% of sale price as a contribution to the maintenance fund.

No problem with family, children etc, staying in your own flat (there is a clause saying no more than 4 folk in a two-bedroom flat).

Guest suite which you can “book” is £25 - £40 a night. Flat owners can book the guest suite in other McCarthy properties, so you could have a touring holiday.

Warning: Word spread that I built an aeroplane so residents think I can fix anything. I’m always busy, that’s why we go away in the motorhome!

 

[DandJ]

Most of the people in the high end ones don’t want to do gardening, they want to spend their time doing fun things. That sort of thing is classed as a chore to get rid of!
They do have flower arranging classes though.

My wife and I would have to seperate and live in separate complexes then.....
She loves gardening and would happily have £100 knocked off a monthly bill and do 100 hrs gardening....I'd pay £100 more not to have to garden....

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