Homewise 60+ homes

[Horses4839]

I need some help I was looking on the right move on some nice 4bedroom houses with big back gardens but the ones that I love are all with home wise 60+ but I really like the homes so I searched if it was possible to still by the home but without the life plan and I would be willing to pay more money but I can't find any videos or pages on it I also looked on their website but I won't give me any info but they said just to wait for a family member to turn 60 but that would be in 20 odd years or so but they never said they would not sell without the life plan and for more money do any of u know the answer.

I don't know anything about this particular company, but as a rule of thumb, someone profits big time from these plans, and it's generally not the homeowner or their family.

I thought that Homewise was just another option of how to buy but you could still buy the same property at its full price.
My last property was offered as a Homewise property but it sold at the normal price by a man who let it out to students.
The only thing I can think of is that there are restrictions on the actual property as in over 60s only are allowed to live in that area.

If this is for a home in a retirement village, and you’re under 60, then you won’t be able to buy one.
A 60+ estate of really beautiful properties is being built in a rural village location near me. It sounds wonderful, with a village square, gym, bistro , shop etc.. but at least one of you must be over 60.
It will have some support staff to offer help.

Yes you'll find them online with a regular estate agent (ward & partners in this area) at 30%+ above the homewise price as it is basically an equity release scheme on purchase.

You'd be absolutely mad to buy one, they are an equity release scheme, so the open market value will have been hugely inflated.
Plus they don't want younger people there, hence them being retirement villages.
Keep looking for another house.

It would be madness to ask a 60yo to a buy a home on your behalf. And that was the longest sentence I've seen for ages - breathe!

The houses may look good but the finance arrangements certainly won't. They may work for some e.g. no family, no intention of leaving an inheritance for anyone, pots of money & nothing to spend it on. Basically, these schemes only exist because they are extremely profitable for the builders. I expect they will be leasehold properties with all sorts of going charges plus fees payable on resale etc. They will not be a good bet but may suit some.

If I read your post correctly you are not over 60? Is your DH/Partner over 60?

If neither of you are then no, you cannot buy one of these homes, because they are for over 60!

Don’t do it.

As bookgirl1982 says, you can find them listed with an estate agent for the 'normal' market value. It will tell you on the Homewise listing which estate agent to contact, and what the market value is. The Homewise plan isn't equity release, it's a different product that over 60s can use to move home, into any property they choose, not just retirement ones