New Year, New Home – why renting could be the answer in 2017
It’s the start of a New Year and for many retired people or those approaching retirement, downsizing will be on the agenda and looking at purchasing a retirement property.
However there is another option. Increasingly we are seeing older people choosing to rent a retirement property rather than buy. They tell us how surprised they are by the variety of properties available – from one bedroom apartments in purpose built developments to luxury apartments in stately homes.
From seaside resorts and rural idylls to the bright lights of city centre living, there are affordable retirement rental options all over the UK to suit most people’s requirements and budgets. And the good news is that most of these come with assured (lifetime tenancies), something which is important for older people.
Our recent customer survey found that 71% of people said that the security of assured tenancies, that enable residents to rent their property for as long as they choose, mattered the most to them when making the decision to rent.
The desire to relocate to somewhere that better suited to your circumstances can also mean reduced bills or releasing capital from a house sale to have extra funds for enjoying retirement. The security of a retirement development allows you to ‘lock up and leave’ your home with peace of mind owning the developments security door system, on site manager and no maintenance worries. You could take the chance to visit family or plan that trip of a lifetime!
Other benefits of renting in a retirement development are the facilities, which include a communal lounge for socialising, gardens and 24-hour emergency call system in every apartment. Some of the more luxurious developments even have a gym, bistro and dining area, hairdressers, library and laundry facilities – offering more of a Club House feel. The social aspect is also important and the access to a ready-made community.
One couple enjoying the benefits of renting are John and Pamela Gray, both in their 80s, who downsized to a one bedroom apartment in Surbiton just over a year ago.
Mr and Mrs Gray
Discussing the benefits John told us, “The apartment is warm and safe, and the other residents are friendly. There is a garden but we don’t have to worry about looking after it so we can just enjoy it. The location is very convenient, the buses go from outside the door and there are a variety of shops close by.
“Socially there is a lot going on. We had a trip to the seaside with the other residents, which was great fun. We also like the reassurance of having a development manager on-site, and although we haven’t had to use it, we have peace of mind that our apartment has the 24 hour CareLine in case of any emergency.”
To find out what properties we have available to rent in your preferred area or if you would like more information please visit www.girlings.co.uk or call us on 0800 525 184.
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