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.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Be cautious about buying McCarthy and Stone!

Options
1235

Comments

  • Albermarle
    Albermarle Posts: 27,767 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    silvercar said:
    M & S are aiming at the top end of the market. Generally people who are downsizing from high end homes and want top notch in their retirement home. Therefore they are attracted to new modern properties that attract a premium. The family then balk at the loss on resale. Buying second hand is probably a safer bet, but no one of age wants the hassle of modernising their retirement home.
    I think this is more the top end of the market.

    Audley Inglewood Retirement Village - Kintbury | Audley Villages
  • Flugelhorn
    Flugelhorn Posts: 7,298 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    silvercar said:
    M & S are aiming at the top end of the market. Generally people who are downsizing from high end homes and want top notch in their retirement home. Therefore they are attracted to new modern properties that attract a premium. The family then balk at the loss on resale. Buying second hand is probably a safer bet, but no one of age wants the hassle of modernising their retirement home.
    I think this is more the top end of the market.

    Audley Inglewood Retirement Village - Kintbury | Audley Villages
    Interesting! reminds me a very fancy care home I visited where some residents were knocking back the sherry in a very grand reception hall awaiting sunday lunch, while elsewhere (and rather hidden away)  it was clear that many were no longer able to care for themselves and needed a great deal of attention.

     I wonder how Audley cope when residents become yonderly and start needing carers 4 times daily and go a-wandering in the middle of the night?
  • Albermarle
    Albermarle Posts: 27,767 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    silvercar said:
    M & S are aiming at the top end of the market. Generally people who are downsizing from high end homes and want top notch in their retirement home. Therefore they are attracted to new modern properties that attract a premium. The family then balk at the loss on resale. Buying second hand is probably a safer bet, but no one of age wants the hassle of modernising their retirement home.
    I think this is more the top end of the market.

    Audley Inglewood Retirement Village - Kintbury | Audley Villages
    Interesting! reminds me a very fancy care home I visited where some residents were knocking back the sherry in a very grand reception hall awaiting sunday lunch, while elsewhere (and rather hidden away)  it was clear that many were no longer able to care for themselves and needed a great deal of attention.

     I wonder how Audley cope when residents become yonderly and start needing carers 4 times daily and go a-wandering in the middle of the night?
    They offer a private caring service, for a fee of course. Or possibly you could buy private care from outside. Presumably if you can afford to live there you would not be eligible for LA funding.
    I presume if they get too bad, they will have to be moved to an actual care home.
  • Skiddaw1
    Skiddaw1 Posts: 2,268 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    silvercar said:
    M & S are aiming at the top end of the market. Generally people who are downsizing from high end homes and want top notch in their retirement home. Therefore they are attracted to new modern properties that attract a premium. The family then balk at the loss on resale. Buying second hand is probably a safer bet, but no one of age wants the hassle of modernising their retirement home.
    I think this is more the top end of the market.

    Audley Inglewood Retirement Village - Kintbury | Audley Villages

    I know someone who lives there!
  • SarahB16
    SarahB16 Posts: 414 Forumite
    Third Anniversary 100 Posts Name Dropper
    edited 14 June at 2:20PM
    Also in our area at least, many of the new property developments are aimed at the older market . So plentiful supply of new properties inevitably depresses the second hand market.
    @Albermarle Really interesting to read this.  When you say new property developments aimed at the older market I'm genuinely interested to hear what type of property developments have been built near you e.g. bungalows, flats, McCarthy Stone/Audley village type schemes or perhaps even multi-generational communities but including some smaller sized homes for older people? 

    I think we have all read about the concerns re McCarthy Stone type homes so was wondering what homes aimed at the older market have been built near you/in your area? 

    Edited to add:  I really do think there needs to be more suitable homes for people as they get older and greater choice.  Not everybody wishes to live in a McCarthy Stone home or in an Audley Village (and many can't afford the service charges) but we do need to consider homes that are suitable for people as they get older.  

    I know some people don't wish to downsize or move and that's fine but many older people do and they unfortunately lack a choice of suitable accommodation so it's good to hear of property developments aimed at the older market are being built in your area and very interested to hear if these come without sky high service charges.  
  • Albermarle
    Albermarle Posts: 27,767 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    I'm genuinely interested to hear what type of property developments have been built near you e.g. bungalows, flats, McCarthy Stone/Audley village type schemes or perhaps even multi-generational communities but including some smaller sized homes for older people? 

    Everything apart from new bungalows, or new houses.

    There is a large Audley complex in the area, opened about 3 years ago.
    There is a smaller complex as part of a more general housing development, opened 12 months ago.
    There is a large new upmarket retirement complex currently under construction.
    Numerous blocks of apartments, some as a community, some as more separate.

    In general it is quite a prosperous area with highish house prices, so I imagine the developers are all hungry to see some of that property equity coming their way, as people downsize.
  • SarahB16
    SarahB16 Posts: 414 Forumite
    Third Anniversary 100 Posts Name Dropper
    I'm genuinely interested to hear what type of property developments have been built near you e.g. bungalows, flats, McCarthy Stone/Audley village type schemes or perhaps even multi-generational communities but including some smaller sized homes for older people? 

    Everything apart from new bungalows, or new houses.

    There is a large Audley complex in the area, opened about 3 years ago.
    There is a smaller complex as part of a more general housing development, opened 12 months ago.
    There is a large new upmarket retirement complex currently under construction.
    Numerous blocks of apartments, some as a community, some as more separate.

    In general it is quite a prosperous area with highish house prices, so I imagine the developers are all hungry to see some of that property equity coming their way, as people downsize.

             __________________________________________________________________

    Thank you very much @Albermarle this is really interesting and great to hear.

    When you refer to the smaller complex which is part of a more general housing development would you mind kindly elaborating on this.  

    Personally, I think England lacks suitable homes in the mid-market range for older people (i.e. can't afford the Audley Village type place but don't qualify for social or affordable housing) and interested to hear if the smaller complex is available on the open market and any further details you could kindly share, e.g. are these flats, smaller houses, etc.  

  • Albermarle
    Albermarle Posts: 27,767 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    It is more of a smaller Audley type retirement village, but rather than being completely isolated it is in one ( large ) corner of a more general new housing development, which is mainly 3 and 4 bed semis and detached.
    The apartments in the retirement village are £600 to £700K for 2 beds;2 bathrooms; 100 M2 + service charges of course.
    The houses on the estate go from £0.5M to £1M
  • Hoenir
    Hoenir Posts: 7,721 Forumite
    1,000 Posts First Anniversary Name Dropper
    As with hospices. These establishments are people intensive. On call 24 wardens for example cost money. Last year's budget ramped up the cost of employing people significantly. Just another unintended consequence of the policy. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.