Retirement properties

neverdespairgirl

blinko wrote: »

my mum is 53 and currentl living in a new build which she bought brand new( !!!! ) and she has lost about 20% in negtive equity and all that

At 53 there could literally be people there who are twice her age!

MatyMoo

We talked my Mum in to moving in to an over 55's complex in her late 70's thinking she would be a) safer and b) happier surrounded by like minded people and I think it was the worst thing we could have done.

Because of ill health (mild strokes, diabetes, angina) she had lost a lot of confidence and didn't find making friends easy so quickly became very isolated.

My Aunt & Uncle planned ahead and moved to the area they wanted to retire to in their late 50's & built up a social network before they retired.

Just some other things to think about.....

And why do they build so many of these places out of town with no local ameneties close by :mad:

Madmel

We looked at some locally 8 years ago when MiL was getting to be a liability 300+ miles away. The McCarthy & Stone place was lovely - a converted manor house with new buildings added on, beautiful grounds, lots going on etc. However, it was up a steep slope and was around 500 yards from the shops. MiL came to stay with us and when we drive there dismissed it because of the location.

We also saw a Pegasus development, at the back of a Somerfield car park, next to a primary school and with not such nice surroundings. She loved it so we bought one there. 8 years later, with help, she's still there, 86 years old and with a reasonable social life based around the place.

One thing we were advised was to buy it for her so when something happened and she either died or needed long-term care, we would be able to sell it on quickly. I don't know whether or not this is applicable in your case.

As MiL was in her late 70s, knowing nobody in the area, she loved the social activities of the place. They have a weekly coffee morning on a Friday, bingo and whist, art classes, Tai Chi, scrabble, a church service and lots more. Some of the younger residents are more active but there seems to be quite a good mix. Until this year, MiL could still totter across to the supermarket, chemist etc but now DH shops for her. The service charges are from memory around £100 per month, but some of that is for Careline which is in every room of her flat.

HTH

Jenniefour

Just to add - because they're age restricted in terms of who can live there they're less expensive than similar properties that anyone could buy. This might be a bit of a hassle later, as sometimes they take longer to sell. And I don't think you can have pets.

hethmar

Blimey, remind your mum she is about the same age as Madonna. FGS, I wouldnt want to be surrounded by old people doddering about, I think Id end up loopy.

glottalstop

There have been tremendous problems reported nationally with the management of retirement developments. Have a look at websites CARLEX and Peverel Action. The main problems appear to be (some) (large) companies who charge a fortune for their own commercial gain, and the charge of exit fees where they take a share when you sell.

Look very carefully at all the contracts, and research the companies involved thoroughly.

I agree with most posts above. Many "retirement" properties are reserved for 55+ or 60+ age groups, and your Mum isn't even there yet. Why not go for a one of those small freehold type places and hold off on going to a full blown retirement development until what I think they now call "assisted living" is necessary ?

blinko

thanks guys, i know she isnt that old in terms, but im not sure how many times she will be able to move she wants to move once more that is certain but after that I am not sure

some good views here and something for me to take on board

thanks alot

seven-day-weekend

blinko wrote: »

thanks guys, i know she isnt that old in terms, but im not sure how many times she will be able to move she wants to move once more that is certain but after that I am not sure

some good views here and something for me to take on board

thanks alot

She's not old at all! I find it difficult to believe that someone wants to go into a retirement complex at her age. She's wishing her life away!

I did 'retire' at 54 (husband was 55) but we built a new life in a traditional village in the Spanish mountains and lived there full-time for five years. We didn't spend it going to Bingo and the British Legion.

We still have loads of things we want to do.

Tell her to watch Felicity Kendal on Strictly Come Dancing, who is ten years older than her!

zaksmum

glottalstop wrote: »

There have been tremendous problems reported nationally with the management of retirement developments. Have a look at websites CARLEX and Peverel Action. The main problems appear to be (some) (large) companies who charge a fortune for their own commercial gain, and the charge of exit fees where they take a share when you sell.

Look very carefully at all the contracts, and research the companies involved thoroughly.

I agree with most posts above. Many "retirement" properties are reserved for 55+ or 60+ age groups, and your Mum isn't even there yet. Why not go for a one of those small freehold type places and hold off on going to a full blown retirement development until what I think they now call "assisted living" is necessary ?

It is actually Peverel who manage the Mc Carthy and Stone place.

And by the way...you CAN have pets. I have two dogs and was told by the salesperson that dogs are accepted - I double checked this on their website.

But after I viewed the place, I had this mental image of my muddy manic mutts charging down the carpeted corridor after some sweet old lady's moggy...and thought "Hmmm...maybe not...!"

They'd all get a petition of complaint up against us!!

hethmar

I reckon your mum needs a bit of excitement in her life rather than a retirement property!

Yes, Flis Kendall and Helen Mirren are both a good 10 years older than her and Cher could probably be her mum! I saw Tina Turner last year at O2 - 70 and still dancing and singing for 2 hours on stage and then climbing along a cherry picker that went out over the audience.

Blimey, tell your mum to get herself a toy boy rather than a retirement flat!