Call 01372 383950, or click below to complete our contact form: 01372 383950 Investigate exit feesIt is not uncommon for landlords to charge an exit fee when a retirement property is sold on and this is often a percentage of the sale price. O’Kelly asks, why buy at all when you can rent? London, You can find out more about which cookies we are using or switch them off in settings. By taking advantage of either rental package you’ll have full access to the community’s amenities, including the vibrant clubhouse, social calendar and stunning private grounds. You will need to pay some of those savings back to the IRS when you sell. We’re all living longer – according to the Office of National Statistics, women are expected to live around 20 years after they retire and men, 15 years. By admin Buying a property or two could provide enough income to allow you … If you do intend to hang on to both houses, you first need to figure out if your retirement house can be considered a second home or if it needs to be treated as an investment property. Ask us about our rental offers! The Drawbacks of Renting in Retirement Neighbor Proximity. Accessibility and security are also key considerations for this kind of property. However, you should also consider the retirement lifestyle you want to lead and whether ownership or renting will best assist in reaching those wishes and desires. SW1E 6RA. The only additional costs incurred will be your council tax and utility bills. As a renter, you are free to diversify your money across different types of assets. These costs allow Retirement Villages to provide dedicated, professional village management teams, maintain our vibrant clubhouses, amenities, communal green spaces and landscaped gardens. "We advise families of the very old and infirm to consider renting a retirement property rather than buying. It is also worth checking the company is part of a recognised trade body (such as The Association of Retirement Housing Managers which represents 55 member organisations who manage over 100,000 retirement properties in the UK and seeks to ‘raise the standards within the sector by promoting best practice and ethics amongst those managing retirement housing’). It is possible to purchase freehold retirement properties, see section 12. People are also drawn to this way of living as it offers support but also independence – you still own your own home in a community of like-minded people who share your interests. Your current home equity can help you purchase a new house after retirement. Required fields are marked *. Of course, the great benefit of a long-term rental is no stamp duty to pay. Please do get in touch with us to learn more. Should you have further questions about any aspect of living in a retirement community, or the rental packages we offer, please do not hesitate to contact us. The average property search budget hasn't really changed in a year – it was previously £124,313 and is now £128,231. 1 bedroom retirement property to rent - North Road, Ponteland, Newcastle Upon Tyne, Northumberland. Highest price; Lowest price; Most recent; Include let agreed . Of course, there is also a safety net for the future, with good accessibility and on-site care offered. This is payable to the landlord or management company and will cover services such as keeping the communal areas clean and maintaining gardens and the exterior of the buildings. I never buy a rental property on the speculation that the price will rise. We have two rental packages available at a selection of our villages and available on properties owned by Retirement Villages Group. This works in three simple steps: You exchange contracts on your new Retirement Villages home and pay a 10% deposit. This print-out-and-keep checklist will help you with your search. However, many retirement properties may be offered for sale with a 99-year lease, or less. These properties are intended for people who can live independently. 0, Retirement homes can be a good option for older people but there are things to consider if you want to buy one of these properties. This website uses cookies so that we can provide you with the best user experience possible. Contact us to learn more about our rental offers. If you feel that retiring is your perfect chance of adventure and you’re not 100% sure where you want to put down roots, then a long-term rental could be the perfect option for you. Registered Office: 3rd Floor, 123 Victoria Street, That keeps you liquid and can increase your overall income during your retirement years. Also they might want to live near people of a similar age. You move into your new home and enjoy six months, rent free. Keeping this cookie enabled helps us to improve our website. They do require more work and education than stocks, both to buy and to manage. Our research showed increases in the number of retirees choosing to rent instead of buy, and those renting saw it as a positive choice. December 5, 2019 Check your lease Andrea Tankel, consultant at SA Law, explains what you need to know. We are using cookies to give you the best experience on our website. Our one- and two-bedroom apartments and penthouses afford beautiful views of the landscaped gardens and natural surroundings. Retirement properties to rent in UK. We offer a minimum 12-month assured shorthold tenancies. You move into your new home and enjoy six months, rent free. Don’t be caught out by ground rentAs you may have seen, ground rents have hit the headlines in recent years, after developers started to include clauses in leasehold contracts which meant the ground rent rocketed – sometimes doubling every ten years. What are my retirement rental options? Grid; Map; List; Highest price; Lowest price; Most recent; Most recent. Contact us to learn more about long-term rental options for retirement properties: Ultimately, you’re the only person who can answer this question but it’s our goal to make sure you have the opportunity to choose what is right for you – whether that’s renting or purchasing your home within one of our communities. For more information read our Privacy Policy. Again, it is important to thoroughly investigate how much the service charges are and what they cover. This field is for validation purposes and should be left unchanged. Buying a retirement home – what you need to know, Retirement savings: The gift that keeps on giving, Top tips for saving money on your wedding, Five tips to ensure you use your redundancy payment wisely, Gift shopping: How to avoid a financial hangover at Christmas, Spotting financial scams – experts warn it’s getting trickier, 2020/21 Personal Finance Awards – Winners revealed. We sat down with Paul Zobonos from The fact that there will be access to healthcare, whether we are in the European Union or not, has been announced since our last index. Affiliations: ARCO; HBF; Housing Ombudsman Service; The Property Ombudsman. Contact us to learn more about renting a retirement property with our Rent to Buy scheme: Find your place, without any permanent commitments. Touchstone is working closely with McCarthy & Stone, the UK’s leading retirement housebuilder. More flexibility than traditional purchasing, A quick path to moving into your retirement property, Reduced responsibility when it comes to property maintenance. An excellent benefit of this option is that you can move across our different retirement communities – truly making the most of flexible living. Owning a rental property could also help you retire sooner, since you’re adding an extra … However, there are a number of issues and risks unique to buying a retirement property and individuals should carefully consider these, as well as consulting with a solicitor, to ensure they aren’t caught out by any unexpected charges or fees. These purpose built retirement homes save you the hassle and stress of maintaining your home. Using rental properties as a source of income in retirement is not a quick process. Online mortgage calculators can personalize calculations like that for you. You then have between 6-24 months paying full rent until completion. The monthly rental fee includes full use of all of our community amenities. used to living in a freehold property and making all your own decisions. We also have brochure. 5. Perhaps apartment living is more for you? in Retirement & Pensions, Useful guides Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. After a consumer code was launched by the Associated Retirement Community Operators in 2015, these costs should be fully explained and transparent, but it is always worth investigating these fees carefully as otherwise they could come as an unwelcome surprise. Information regarding costs and fees associated with renting a property in a retirement village, and what these costs over can be found on each villages FAQ page: Should you require more clarification or want to learn more about renting with Retirement Villages, contact a member of the team to speak with us directly. Rent to Buy removes some of the time pressure from selling your existing home. However, many retirement properties may be offered for sale with a 99-year lease, or less. Retirement properties often come with a number of excellent amenities – some of the top-class facilities in the UK have swimming pools, on-site salons and cafes, for example. Please do get in touch with us to learn more. Equally, renting gives you a great opportunity to try out the lifestyle without making a permanent commitment from the outset. Most retirement properties are sold on a leasehold basis – and ideally, this lease should be for 999 years which is offered with a new-build leasehold property. £725 pcm (£167 pw) Tenancy info. If you are considering renting a property in your retirement to gain more financial freedom, you’ll naturally want to know all of the figures involved to make an informed decision. Through a self managed super fund (SMSF) it’s a real possibility for many Australians looking to invest in property, whether it’s your first, or you're adding to your portfolio. What age can you move into a retirement village? Our rent to buy scheme allows you to move into your new home much sooner than if you await a house sale, meaning you can start to enjoy village life immediately. It is important to seek Most retirement properties are sold on a leasehold basis – and ideally, this lease should be for 999 years which is offered with a new-build leasehold property. 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