Although moving home is often considered a stressful time, it can also be an extremely exciting time: a time for fresh starts and a whole new lifestyle, particularly for those of us over the age of 55. Whether you’re still working on a part-time basis or have retired, you’re likely to have more time for leisure pursuits, for travel and for doing all those things that you’ve had on your ‘bucket list’ for years. If, however, you’re tied to an older property with a large garden that requires a considerable amount of maintenance, it’s worth considering moving to a property that will be easy to maintain, energy-efficient and that you’ll be able to ‘lock up and leave.’
You might not think that your ‘dream’ home could be a retirement home but if you look at Beechcroft’s properties for sale for the over 55s, you’ll be surprised by the quality of the design, the build, the finish and the fixtures and fixtures. Our portfolio of properties is also very varied, from newly built houses and apartments to homes that are the result of the careful restoration and conversion of period buildings. Our locations are equally varied: currently, we’re creating some outstanding developments for the over 55s along with some Special Projects (where residency is limited to the over 16s) in Berkshire, Hampshire, Hertfordshire, Oxfordshire and Surrey.
We are constantly searching for land to build properties for the over 55s within easy reach of local shops and services in the most attractive market towns and villages across the southern counties. Even if we are not building in your dream location, we’d recommend taking a look at your nearest Beechcroft development. Some of our home buyers have done so and bought beautiful new homes in areas entirely new to them.
The over 55s housing market has become increasingly significant as the baby boomer generation reaches retirement age. By 2040, it is estimated that 25% of the UK population will be over the age of 60 – a figure in the region of 17.6 million. Many of us are still living in our large family homes, long after our ‘children’ have flown the nest. One of the reasons for this is because moving from a home where we’ve lived, possibly for 25 years or more, is a big decision, even if that older home is costly to maintain and expensive to heat – and, even, if the neighbourhood has changed since we first moved there. Actually making the move, however, could be extremely beneficial – but it means choosing the right type of home, one designed for the later living and which doesn’t involve making too many compromises. Before making a choice, it’s worth investigating the over 55s housing market and deciding what type of home would suit you best.
If you’re active and independent, the two main types you might consider are Retirement Housing developments or Integrated Retirement Communities. Retirement Housing such as that provided by Beechcroft tend to be smaller developments, offering self-contained properties for the over 55s for sale. You’ll be able to maintain your privacy and independence but with a community of like-minded people - and the possibility of a whole new social life – on hand. At Beechcroft, for example, you’ll discover spacious, well-designed houses and apartments set in beautifully landscaped, fully maintained grounds. Many developments have a communal lounge, where you can enjoy coffee mornings and social events and there may be a luxurious guest suite which you’re able to book when friends and family visit. An Estate Manager, handles the administration of the development, organising cleaning and maintenance of the communal areas and gardening of both the landscaped setting and private gardens. Beechcroft’s Estate Managers are able to keep an eye on properties whilst owners are away.
Integrated Retirement Communities, also known as Retirement Villages, Housing With Care or Assisted Living, are larger developments with more facilities including cafes and restaurants, pools and fitness suites, hairdressers and libraries, optional care and domestic services and 24-hour staff. If you think of the Netflix film, ‘The Thursday Murder Club’ you get the idea. The service charges on this type of development tend to be much higher – all the facilities and services need to be paid for.
If you think you or your partner may need some assistance but you’d prefer to live on a retirement development like Beechcroft’s, it’s worth bearing in mind that, on those developments with a neighbouring care home, Beechcroft residents are able to take advantage of a menu of additional services from hot meals and laundry services to hairdressing and social events. Of course, you only pay for what you need.
When searching for your ideal home, it’s essential to consider features that will enhance your quality of life. Of course, what each of us considers an ideal home will vary enormously but generally the top key features to look for in any property, whether a retirement home or a mainstream home, are location, the setting, the quality of the homes themselves, the fixtures and fittings in the home, the sense of community, the services on offer and the cost of these. In terms of a retirement home for the over 55s, location is key – as we age, we are less likely to travel far by car so being close to local shops, services and transport links is important.
For those who have enjoyed glorious gardens for years, having a beautifully landscaped setting where it’s possible to relax, walk, socialise or perhaps to help with a little light gardening will be important. Having an elegant home that you’ll be proud of is equally important. At Beechcroft, we have always aimed to create homes for the over 55s that provide plenty of light-filled, generously proportioned living space, regardless of the number of bedrooms. Kitchens are both stylish and practical with a full complement of integrated appliances and bathrooms and en-suites come complete with vanity units and fitted mirrors – all this means you won’t have to pay for any ‘extras.’ A communal lounge is always a bonus, somewhere to meet friends and neighbours for coffee, without having to entertain in your own home. At Beechcroft, we have always found that our customers prefer to be able to join local fitness classes, clubs and societies and to eat out at restaurants, pubs and bars rather than expensive on-site facilities they may not use.
Downsizing can offer numerous benefits, especially for those over 55. First of all, the most obvious benefit is having less maintenance both in terms of the house and garden. New homes are also considerably more energy efficient than older properties so not only are they warmer, but they also cost less to run. Decluttering, ready for the move, can have psychological benefits and, having moved to a new community, there’s the possibility of a whole new social life which will help combat loneliness and isolation, particularly for those who are living alone rather than with a spouse or partner. When you’re no longer ‘tied’ to a house that requires a lot of maintenance and may even have become a ‘money pit,’ you’ll be free to spend more time with family and friends or on hobbies and personal interests. Although none of us like to think forward to a time when we may be less active or stop driving, moving to a home close to local shops and services and one that is designed for later living is excellent forward planning.
“I was living in a three-bedroom house with a garden and garage and all the maintenance fell to me. I was trying to cope with the garden, cutting the grass and the hedges. The central heating had never been replaced, water was coming into the kitchen and, when I returned from holiday, the boiler had broken down. It was all too much and I'd simply had enough.”
, Pinewood Place, Windsor
Choosing the right location is a crucial step in finding your dream home. So, what’s the right location for you? If you enjoy walking, cycling and exploring nature reserves your top location is probably somewhere on the fringes of the countryside, possibly in or near an Area of Outstanding Natural Beauty. You’ll still want to be close to shops and services, the local doctor’s surgery and a good supermarket or local shop. If you enjoy travelling, going to London for shopping or an evening at the theatre, you’ll want good transport links. If you’re the type of person who enjoys shopping, eating out, meeting friends for drinks and going to the gym or fitness classes, you’ll want to make sure these are all on hand. It may be that you choose a location that’s near your family so you can help out with younger family members and be more involved in their lives. Once you’ve decided what your top locations for over 55s properties are, take a look at what’s on offer not only in the areas you know but ones that may offer you everything you’re looking for and more.
There are several types of properties that cater specifically to the needs of the over 55s, each offering unique benefits and lifestyle options. Often people equate retirement properties with apartments but you could be surprised by the range of properties for over 55s on offer. The Beechcroft portfolio for example includes both newly built and converted period properties, apartments, duplexes, mews cottages and houses. Each and every home is designed to provide plenty of light-filled living space and the majority come with a terrace, balcony, private garden or a combination of these. Apartments and duplexes usually have lift access. There’s also a range of homes, from one-bedroom to three-bedroom houses and apartments. Most of us know when we’ve found the property that’s ‘right’ for us – it’s definitely a feeling. If you get that ‘feeling,’ you know you’ve found your ideal home.
Financing a home purchase after 55 requires careful consideration of your financial situation and long-term goals. If you’re selling your main home, you’ll probably fund your downsizing or your ‘cross-market’ move (that is to a property of a similar value) with the equity released from your sale. If you want to spend more on your new home than your current home is worth, several lenders offer retirement mortgages. We would always suggest you speak to a financial advisor about financing options for buying a home after 55. Many people who are already retired as well as those who are still working but wish to borrow past their retirement age are able to take advantage of retirement mortgages. The lenders your financial expert will recommend will be those who do not have a maximum age and who will look at each application individually. Such lenders consider multiple streams of income, employed or self-employed, pension projections, pension pots and rental income.
Choosing the right community is just as important as finding the perfect home. Most of us, aged over 55, want to live in a community of like-minded people, a community where you can maintain your privacy and independence but perhaps make new friends. When you’re looking round a new development, try to speak to some of those who have already bought there. Developers such as Beechcroft often invite residents and potential home buyers to sales launches and special events such as garden parties.
Buying a home after 55 can be a smooth and stress-free process with the right approach. Take advice from the sales advisor on the retirement development where you’re hoping to buy and take advantage of any of the ‘easy move’ schemes offered. Beechcroft’s ‘Moving Made Easy’ scheme allows you to reserve the new home of your choice for six weeks, during which time the sales teams develops a marketing strategy aimed at selling your home within a fixed time period. The sales team then manages the sale of your property, progressing it through to exchange of contracts within a fixed period so you don’t miss out on your dream home. Beechcroft covers the cost of the sales service, including your estate agency fees and organises free and accurate valuations of your existing property by at least two independent estate agents. There’s also a ‘Manage Your Move’ service which means your furniture and possessions will be packed and transported to your new Beechcroft home. You’ll have the services of a handyman for a morning or an afternoon and, if you use one of Beechcroft’s recommended, independent estate agents or solicitors, Beechcroft will pay up to £10,000 (including VAT) of your estate agency fees and up to £2,000 of your legal fees. When you visit a retirement development, do ask about any such services on offer – it could save you a good deal of stress, time and money.
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“I used Beechcroft’s Manage Your Move service so my furniture and belongings were packed for me and transported to my new apartment. I couldn’t fault the removal company who were really well organised and came round the day before to plan the packing.”
, Castle Gardens, Watlington
The latest property trends for later living buyers are related to creating living spaces that are luxurious, aesthetically pleasing, practical, safe and environmentally friendly. An increasing number of over 55s are looking for property with energy-efficient underfloor heating systems and alternative heat sources such as air source heat pumps. Beechcroft’s ‘Healthihouse™’ specification, designed to create a healthier living environment within the home, including whole house heating and ventilation system, a filtered water tap in the kitchen and surfaces that prevent the growth of bacteria, has proved particularly popular.
Finding your perfect home as an over 55 can be a rewarding and fulfilling journey, not only finding the ideal property in the ideal location, but also discovering a wonderful sense of community, exploring a new area, enjoying the landscaped gardens without having to maintain them, being free to travel and enjoy a different type of lifestyle and to make new friends to socialise with.
