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We try to ensure that the retirement property advertised in this section will be accessible to all, including wheelchair users. Where property in multi-storey blocks is advertised, a lift will be available.
In addition to support services, more sophisticated developments may include a resident’s lounge, restaurant, guest accommodation, maybe a bar, and possibly shops, hairdresser etc. The aim is to support independent living and to ensure that necessary support services are available if required.
Some developers sell retirement property ona shared ownership or shared equity basis.This makes them cheaper initially becausepurchasers only have to put down —
a percentage (usually between 50% and 70%) of the property value. The remaining sum is charged as rent, with the option to complete the purchase over a longer timescale.
Retirement property checklist
If you are thinking about purchasing retirement property, it’s worth checking the following:
- Age restriction
- Free or leasehold (many retirement developments are leasehold)
- Ground rent and/or or service charge (levied to pay for additional facilities and support services)
- Maintenance is included (care of grounds, external painting, etc)
- Level of support services (warden, alarm system, availability of meals, etc)