We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Retirement Villages...Rent or buy?

PolyannaYorks Posts: 3 Newbie

3 March 2021 at 2:27PM in House buying, renting & selling

Quite a number of Retirement Villages are now giving the option to buy or rent...can anyone advise on this please?

When you leave a Retirement Village (at death or whatever!!) there are always high exit fees to be paid...on top of the charges accruing monthly until the property is sold...now you have the opportunity to rent ..would this be the best option?

I worked for a Retirement apartment/bungalow company a number of years ago & resigned because I thought the system was disgraceful...with monthly charges having to be paid until the property is sold. In one of 'my' developments a young couple were faced with increasing debt every month as their mother's apartment was not a good saleable property because the company was building new apartments a mile or so away and offering incentives to encourage sales!

I vowed I would never buy into retirement properties for this reason ...and the exit fees...however.. Retirement Villages seem to offer a certain security but ..I wondered if renting would be preferable?

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

Martin Lewis: Are you one of 800,000 parents missing out on up to £2,000 a year towards childcare costs?
If you pay for childcare, whether just for the summer or all year round, watch this urgent video briefing on the help that's available.
Martin Lewis: Energy Price Cap to fall 7% on 1 July (though it's still a Pants Cap). What it means for you and the new rates
The price most households pay for gas and electricity will fall by 7% on average from 1 July 2025 as energy regulator Ofgem has announced the latest Energy Price Cap rates. How much you'll pay under the new cap depends on how much energy you use and where you live.
Martin Lewis: The Price Cap to fall 7% on 1 July (though it's still a Pants Cap). What it means for you and the new rates...
The price most households pay for gas and electricity will fall by 7% on average from 1 July 2025 as energy regulator Ofgem has announced the latest Energy Price Cap rates. How much you'll pay under the new cap depends on how much energy you use and where you live.
Energy bills to fall 7% in July as new Price Cap is announced – what it means for you
The price most households pay for gas and electricity will fall by 7% on average from 1 July 2025 as energy regulator Ofgem has announced the latest Energy Price Cap rates. How much you'll pay under the new cap depends on how much energy you use and where you live.
Martin Lewis: Going abroad soon? Two passport checks to stop you being turned back
"My daughter wasn't allowed to board the plane even though she had seven months left on her passport." MoneySavingExpert.com founder Martin Lewis explains two key checks to ensure this doesn't happen to you (while it differs per country, these'll generally keep you safe), in the latest episode of ITV's The Martin Lewis Money Show Live.
Drivers to be able to pay for parking using just ONE app under new Government plans
You should soon be able to pay for parking across the UK using just one app under new Government plans. The initiative is designed to end "the scramble" to download multiple apps for use at different car parks.
Warning. Five holiday booking scams to watch out for as over £11 million lost to travel fraud
Booking your summer holiday soon? Protect yourself from scams by watching out for clone websites, fake deals and bogus cancellations, as fraudsters to continue to use a variety of sophisticated methods to trick holidaymakers out of their cash.
Santander Edge customer? It's axing its 1% cashback on spending
If you've got a Santander Edge current account, you'll no longer earn 1% cashback on supermarket, fuel and travel spending from 9 September. The bank has today (20 May) confirmed it's axing the perk, though it will continue to pay 1% cashback on bills.
Martin Lewis: I'm a bit teary – we just got a win on changing hideous Council Tax debt collection
Miss one monthly Council Tax payment and within six weeks you can have bailiffs at the door asking you to pay the whole year's bill, plus extra on top. But in a win for MoneySavingExpert.com founder Martin Lewis and his charity the Money and Mental Health Policy Institute (MMHPI), the Government has agreed to investigate these "catastrophic" debt collection practices.

View All

Retirement Villages...Rent or buy?

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free