MOVING ON
SHELTERED HOUSING The basic concept of ‘sheltered’ housing is a self-contained home with communal facilities, a manager/ warden and access to 24-hour emergency help. It’s designed for older people who want to be independent and don’t need nursing care. You can buy or rent (expect a waiting list) from your local council or housing association. For anyone needing extra support, including personal care, ask about Extra Care housing (also called Assisted Living or Enhanced Sheltered housing). Unlike sheltered housing in general, Extra Care housing is inspected by the Care Quality Commission. RETIREMENT VILLAGES There are a growing number of privately developed retirement villages designed for younger (you’re eligible at 55), more active, community-minded retirees. Traditionally, these have been situated in urban areas, close to facilities, but for downsizers with money, there are exclusive developments in their own grounds with luxury facilities such as swimming pools and restaurants.
According to research from Merrill Lynch, 47% of retirees say they are either working or plan to work in retirement, and 72% of people in the 50+ range say they plan to do the same.
Be aware of what you’re buying into and discuss it with the family. Retirement properties have been criticised for being sold at a premium and depreciating dramatically in value. Most are sold on a leasehold basis and there are often restrictions in the lease. For instance, the freeholder usually gets a percentage of the sale. ‘You aren’t just buying a property but a community, and you have to accept there will be costs involved,’ says Martin Bamford. Need to know
◆ Schemes and names vary; know what’s included and what costs extra.
◆ As well as household bills and Council Tax, you’ll usually have to pay a regular service charge/management fee.
◆ Check housingcare.org and property websites to find out what’s available locally.
◆ Newer retirement properties built by registered developers should be covered by an NHBC Sheltered Housing Code. CARE HOMES Currently, around 4% of the over 65s live in care homes (16% of the over 85s). But demand for places is on the up, as more people are living longer and many
are suffering from long-term chronic health conditions that need support. A study last year, published in The Lancet, predicted that an extra 71,000 care-home beds will be needed within eight years to cope.
As well as the shortfall in good quality, affordable care, there’s a big discrepancy in the fees charged. According to a report by the Competition and Markets Authority, fees for those paying for themselves are now, on average, 41% higher than those paid by local authorities in the same homes.