YOUR QUESTIONS ANSWERED
CAN I visit McCarthy & Stone developments so I know more about them before I buy?
Of course – and you’re encouraged to do just that. There are actually plenty of festive open days planned in the run-up to Christmas where you can tour local developments with other people. Or make an appointment and friendly staff can walk you around, answering any questions you might have. You can even enjoy some time in the communal lounge or on-site restaurant or bistro to get a real feel for the experience. There are developments right across the country – find one at mccarthyandstone. co.uk
IS every development the same?
No – because each building is designed to fit into its surroundings and be part of the wider community, and some also feature bungalows. But that said, every McCarthy & Stone development shares several useful features. Individual apartments are larger and lighter than you might expect. They’re specifically designed for the way we live as we get older, with plug sockets set higher in walls and bathrooms having slip-resistant floors, for example. In Retirement Living PLUS kitchens you can even open windows at the touch of a button rather than leaning across a deep counter. And as developments cater to people of similar ages, you get the peace and privacy you want. Unlike ordinary flats, you won’t find teenage residents playing loud music or twenty-something neighbours having all-night parties. Just people from your own generation – who you can socialise with just as much, or as little, as you choose.
ARE the properties expensive to buy – and to run?
Prices vary across the country and sales teams, or the website, can tell you what’s available and at what price. After moving in, you may find that the running costs are lower than you’re used to – because the homes are energy efficient, well insulated and keep utility bills under control. You will pay a service charge to cover the costs of running the development – the sales team can give you figures on request. It covers things like the house manager, the 24-hour emergency-call system, the camera door-entry system, buildings insurance, water and sewerage costs, maintenance of the shared areas, exteriors and grounds, plus a sinking fund for future work. You get a lot for your money. Some say the service charge is actually lower than the annual bill for maintaining an older family home*.
WHAT about the costs at Retirement Living PLUS properties?
The service charges here include everything you get at Retirement Living developments, plus the cost of the staff who are on-site to help 24 hours a day, the running of the restaurant or bistro and the weekly hour of domestic help on offer at most developments. If you want or need extra assistance as time goes by, staff can help you find it and explain any costs. Better still, McCarthy & Stone also have an Entitlements Team, who can help explain what benefits or allowances you can claim as you get older. DO I have to sell my old home before I move in? Not at all. There is a range of ways to move into a McCarthy & Stone development, including renting a
modern apartment – see page 6 for more information. Some prefer to let the old family home, while some residents use a ‘rent to buy’ option. Ask staff and you’ll find there are plenty of flexible choices. WILL my family be able to resell my apartment at a profit?
While it is difficult to predict how the housing market will perform, it’s safe to say the demand for good-quality, well run retirement living homes remains strong. McCarthy & Stone’s in-house Resales Team are committed to supporting homeowners and their families when they come to resell their apartments, and have reported that the majority of their new managed properties increase in value when resold.
WON’T it feel isolated to live in a retirement development?
IT should be the exact opposite! Developments are designed with relaxed friendships in mind. They all have roomy communal spaces where you can chat or take part in organised activities – days can start with morning coffee and end with a film night. Watching something like a Wimbledon Final with friends can make it even more fun. But there’s no need to mix if you don’t want to. On a wider scale, McCarthy & Stone developments are set in perfect locations, close to or well connected with local towns, villages or communities. And don’t think giving up the spare bedrooms of your old family home means you’ve nowhere for guests to stay. Most developments have hotel-style guest suites available from £25 a night. Book family in and you can enjoy a relaxed catch-up – without any laundry or clearing up to do afterwards.
* According to the findings of Housing LIN, an independent consultancy.