Elderly Home Buying Schemes?

mikedelaney2424

Hi Guys,

My granny is around 80 and is looking to purchase a home after downsizing.

Are there any reputable schemes or things to be aware of for an elderly homebuyer, be it government support or watch-ours? She has been made aware of a leasehold residential complex for elderly people but is not too interested in lease holding.

She is keen to purchase the freehold to the property and will live in it.

Any help will be greatly appreciated.

Thanks,

Mike

agrinnall

Difficult to offer much help without knowing what sort of property she wants and what is available in the area that she wants to purchase for the price she wants to pay. I very much doubt if there is any government support, and I'm afraid I have no idea what you mean by "watch-ours".



For what it's worth, I'd suggest looking for a bungalow if she can afford one.

margaretclare

No, there will not be any government support. Your granny will be the same as anyone else, look at estate agents (can she do computer, look at websites etc - that will save a lot of leg-work). Otherwise, same as anyone else, decide what she wants, area she wants etc.


For her age, convenience of use is paramount. She may be better with a walk-in shower rather than traditional bathroom. Depending how mobile she is, grab-rails in bathroom etc. Convenience of use in kitchen. Steps? Garden? All the things that become more difficult as you get older. Shops, transport, GPs surgery etc.

tlc678910

Hi, take a look at "shared ownership for older persons"
https://www.saga.co.uk/magazine/money/property/buying-and-selling/what-is-shared-ownership-for-older-people
If a person on this scheme owns 75% of the property their is no rent to pay on the remaining 25%.

You would contact your local HomeBuy agent as mentioned in the article.

Tlc

Margot123

My Mum was 92 when she moved to another property.

She didn't want leasehold or shared ownership, so bought a freehold.

It was simply a case of the family being on the look-out for suitable properties in suitable locations. Estate agents were particularly helpful once they knew the criterion.

As has already been mentioned, start with the practicalities of the interior of the property, then the garden (steps, surfaces that can't be altered etc), then access to shops, GP, buses.

Not knowing how mobile your Granny is, or what spare cash she would have for maintenance, repairs and adaptations, it's a bit harder to advise further.