Too Young for McCarthy and Stone

seven-day-weekend

My husband and I are house-sitting in Newport (Shropshire), and just out of interest, went to look round a new McCarthy and Stone development just been built.

The sales person said 'You do realise it is for over-60s, don't you?'

We informed her that we are almost 63 and 64. She said 'oh I'm sorry, I thought you were enquiring for someone else'.:beer:

Made our day.

Anyway, the development was wonderful and service charges very fair for the facilities you get. However, regardless of age, we ARE too young at the moment for a retirement complex. There is an M&S development in a a part of our city where I would like to live, it is affordable, so we may be there in twenty years' time. .

Hope they willl still think we look too young!

pollypenny

That's great.

seven-day-weekend

Just remembered, the sales lady told us that there was one couple in their early 60s in the complex, they spend half the year abroad and bought the M&S flat so they could just lock up and leave their flat knowing it would be secure and looked after if anything happened.

I thought that was a great idea!

Errata

lol - excellent idea if you're loaded

seven-day-weekend

Errata wrote: »

lol - excellent idea if you're loaded

Not necessarily loaded - you could downsize to the M&S apartment and pay cash for that and then rent an apartment abroad out of your income.

Errata

But you'd still need to have the money to pay the CT, water, heating, insurance, maintenance and service charge on an empty property. Not an insignificant sum when its all added together.

seven-day-weekend

Errata wrote: »

But you'd still need to have the money to pay the CT, water, heating, insurance, maintenance and service charge on an empty property. Not an insignificant sum when its all added together.

The water, insurance (buildings) and maintenance (external) are all included in the service charge. I don't think it need necessarily cost a fortune, especially if you had some money left after downsizing, which you could use for this.

We have had two homes in two different countries, our UK house was already paid for and we bought the Spanish one for about £52k, funded largely with the proceeds of an inheritance and the lump sum from my husband's teacher's pension, so it is do-able. Our son lived in the UK house with his girlfriend and a lodger to pay the bills on that one, but if we'd have had more income we could have afforded it ourselves.

A couple both with State and Occupational or private pensions could afford it without being what I would call 'loaded'.

Savvy_Sue

seven-day-weekend wrote: »

Just remembered, the sales lady told us that there was one couple in their early 60s in the complex, they spend half the year abroad and bought the M&S flat so they could just lock up and leave their flat knowing it would be secure and looked after if anything happened.

I thought that was a great idea!

Errata wrote: »

lol - excellent idea if you're loaded

seven-day-weekend wrote: »

Not necessarily loaded - you could downsize to the M&S apartment and pay cash for that and then rent an apartment abroad out of your income.

I've known several people do this, although not with M&S. My cousin invested in a property in France and spent all the school holidays there before retirement while there UK home was a small flat in a retirement complex.

Best one is a friend who lives in a Methodist Homes complex, where one of the residents lives half the year in Uganda! She's actually about to sell up in the UK and stay over there permanently.

zaksmum

We looked at a McCarthy & Stone place last year and it was far too "old" for us...we're early 60s.

The salesperson said our dogs would be permitted, but when we saw the place and had this image of our muddy mad dogs tearing round, there was just no way it was going to work.

More suited to over 70s I think.

LittleMax

You also need to consider how easy it will be to sell if you move in and then decide it's not for you. We live on a new build estate where a couple are trying to leave a retirement village, but just can't sell, as there are restrictions. They are finding the service charges too expensive, not sure if they have gone up, or they just didn't budget for it. They are also going to have to pay a chunk of money to the development out of the sale, as the pricing structures are tailored for people moving in and not moving out ... this usually comes out of the estate, so people don't factor it in. They are desperate to leave, but are trapped.

margaretclare

zaksmum wrote: »

We looked at a McCarthy & Stone place last year and it was far too "old" for us...we're early 60s.

The salesperson said our dogs would be permitted, but when we saw the place and had this image of our muddy mad dogs tearing round, there was just no way it was going to work.

More suited to over 70s I think.

Not even suited to us - late 70s. Parking spaces limited to 1 per 4 apartments - no use at all. All the 'sales spiel' we listened to fell on deaf ears. We are not worried about security and we didn't think there was enough space, also, the rooms were a funny shape. Kitchen tiny - maybe not expected to do much cooking? Communal washer/driers.