Is a retirement village the right choice?

QMY mother, in her late seventies and a widow, lives in our former family home. We, the children, have all moved out, leaving her in a house which she accepts is too large for her needs and too difficult to maintain.

She realises she needs somewhere smaller even though she is very well and finds the stairs no problem. They are building a retirement village complex nearby. Would this be a good choice? Vanessa T

ARETIREMENT villages and similar complexes in towns look attractive – and are increasingly marketed to people even 10 to 20 years younger than your mother. While some have care facilities attached, they are intended for those, like your mother, in good health. Some sell themselves on luxury including cleaning, upscale restaurants and well laid out communal gardens.

Buying into a retirement complex is unlike purchasing a normal home. There are different financial considerations as well as someone deciding whether they would like the style of living.

Moving into a retirement set-up involves a number of potential costs which do not occur in most other property transactions. One difficulty is that once you have selected somewhere, you depend on the complex developer to maintain standards and not to increase prices unreasonably.

The most visible fee is the service charge. Your mother will need to know how this is calculated and how increases are worked out. It’s better when the residents themselves organise this – leaving it to developers can mean giving them an open cheque.

Sometimes, fees continue until the property is sold when the resident dies or moves elsewhere. Some retirement schemes cannot be sold on the open market – the only buyer is the developer. If she buys into a new retirement village, she will effectively pay a new-build premium – second hand retirement homes tend to be cheaper.

Your mother might be better off – financially and emotionally – looking for a flat near her present home, keeping her circle of friends while probably being more in charge of her money. There is an online guide to retirement villages from Which?