Who can buy a retirement property?

When it comes to purchasing a retirement property, the assumption is often that buyers are planning their own move. While this is true in most cases for Beechcroft homes, there are exceptions where others, including those under the age of 55, may choose to make a purchase. Whether it’s family members securing a home for their loved ones, landlords recognising the value of age-restricted developments or adults aged under 55 planning to make a move to a like-minded neighbourhood, there are occasions in which you may wish to purchase a retirement house or apartment, even if you do not intend to live in it yourself. Find out more below... 

Written by

Sheila Frampton

How do you define "retirement property"? 

A retirement property is a house or apartment that has been specifically designed and built for people of retirement age.  The lower age limit depends on the retirement development, some are designed for the over 55s, others for the over 60s or over 70s.  Beechcroft’s retirement developments are designed for the over 55s. 

The difference between a retirement property and a ‘mainstream’ home is that the former have been designed with an understanding of the changing needs of mature homeowners. As such they tend to be more adaptable and easy to maintain, which means an easier, more relaxed lifestyle.  Wherever possible, Beechcroft creates new homes with private outside space – either a terrace, balcony, roof terrace, garden or a combination of these and private gardens as well as the landscaped settings are maintained on behalf of homeowners.

Retirement developments such as Beechcroft’s have a dedicated Estate Manager who handles the day-to-day administration of the development, including gardening, the cleaning and maintenance communal areas and cleaning of external windows.   Buildings insurance costs are covered as are other associated costs.  The best retirement developments either provide services or are located close to local amenities and services.   

Find out more about what makes a retirement property so helpful in our blog.

An older couple sat in their sun room
A dining table surrounded by windows and curtains
A lady using an iPad while sat next to a fire place in her drawing room

Who can buy a retirement property?

Anyone may buy a Beechcroft home but residents must be over 55.  On our Special Projects’ developments, full-time residency is restricted to the over 16s. 

This means that whether you choose a home on a retirement development or a Special Projects’ development, those that live at the development will be surrounded by a community of like-minded people which means the possibility of homeowners fostering friendships with neighbours and ensures a peaceful environment.

 

Can I buy a retirement property for my parent(s)?

Yes, certainly.  As long as your parent, or one of your parents, meets the age criteria for the development, you are able to buy it on their behalf.   

It doesn’t matter if one of the occupants is younger than 55 as long as one of the main occupants is over the age of 55. 

 

Can I buy a retirement property as a rental?

Yes – once again, as long as the occupants meet the development’s age criteria, you will be able to rent out a retirement property just as you would any other property. 

This ensures that the structure of the community remains unchanged which is particularly important as Beechcroft’s customers buy new homes with the aim of living a private, independent life within a community of like-minded neighbours.

 

Can children come to visit a retirement development?

Children are always welcome to visit Beechcroft’s retirement and Special Projects’ developments, to stay overnight or spend a holiday with older relatives but they cannot live at a retirement development and, if they are under the age of 16, cannot live at a Special Projects’ development.

 

Can I sell my retirement property on the open market?

If you need to sell your Beechcroft property for any reason, you can do so in the same way that you would sell any mainstream property. 

You choose your own conveyancing solicitor and the estate agent who will market your home but the only stipulation is that age criteria for the development is strictly adhered to – that is, over 55 on retirement developments and over the age of 16 on Special Projects. This is not always the case when you purchase from retirement developers other than Beechcroft, so we recommend always asking this question. 

 

A woman drinking coffee in her bedroom
People raising a glass of red wine in a living room
A grandmother and granddaughter washing up

What are the different types of Beechcroft properties?

Beechcroft was founded in 1984 with the aim of creating exceptional retirement properties featuring high quality fixtures and fittings and offering an abundance of generously proportioned, light filled living space regardless of the number of bedrooms.  Over the last 40 years, the company has flourished and grown but we have never strayed from these principles and, today, the lower age limit for Beechcroft retirement developments is still 55.

More than 20 years ago, Beechcroft responded to a growing demand from people under the age of 55 for the type of peaceful living environment offered by our high-quality retirement developments. As a result, the Special Projects Division was formed, focusing on buildings or sites of historic or architectural interest and creating homes with a covenant restricting full time residency to people over the age of 16.

Today, some developments include both retirement properties and homes created by the Special Projects Division so, whilst there’s a wider age range on these developments, they still offer a peaceful, child-free, living environment. 

 

What makes Beechcroft’s new homes stand out in the retirement market?

With 40 years’ experience in the retirement housing market, we understand that people over the age of 55 living in large, underoccupied family homes are reluctant to ‘downsize’ to a smaller property.  Our homes, therefore, are designed to provide large, generously proportioned rooms – some of our two-bedroom homes are larger than new three and four-bedroom mainstream homes. 

Our floor plans are practical and flexible.  Our houses often feature a drawing room, dining room and sunroom with glazed double doors that may be folded back to create free-flowing living space perfect for entertaining. 

Some apartments feature a dining/hall, flexible living space that can accommodate a dining table for formal occasions but is equally suitable as an impressive hall or a reading room, library, study or second sitting area. 

Our landscaped settings are designed to replicate the type of gardens our homeowners have left behind, with rich planting, texture, colour and year-round interest.  Private gardens are also landscaped and maintained on residents’ behalf.  

Many developments have comfortable, elegant, communal lounges, where residents meet for coffee, quiz and cinema nights or fitness classes and some also have a luxurious guest suite which may be booked for guests.  Some retirement developments have a shuttle bus used for shopping trips or visits to local attractions.  On those developments with an adjacent care home, Beechcroft homeowners are able to take advantage of a menu of additional services from hot daily meals and a laundry service to hairdressing and social events.

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