Has anyone seen any 'over 50's' retirement flats?

LaurieFairyCake · 2023-07-16T06:54:52+00:00

I used to see them, now I only see over 55's. Anywhere [smile]

C4tastrophe · 16/07/2023 08:42

55 is the new 50.
But at 50 you realistically have 30 years ahead of you.

good96 · 16/07/2023 17:17

I would strongly recommend not buying one. Aunt & Uncle brought a retirement flat in the 1980s when they were 55. When they had both passed away by 2014, it took my cousin over a year to sell it - cos you can only sell to people over the age of 55. The property only sold for just under £60k. Really not worth it. Better the devil you know - buy a bungalow or a ground floor flat.

WimbledonPimms · 16/07/2023 17:24

Have a look at Retirement property won't sell www.mumsnet.com/Talk/property/4774592-retirement-property-wont-sell

I wouldn't go near one, they depreciate as soon as you buy one and most of them have unsold properties for years

StopStartStop · 16/07/2023 17:26

Avoid them like the plague. Vastly overpriced, huge service charges, can't get your money back when you sell.

whatsappdoc · 16/07/2023 18:10

Our local ones are now over 60s for some reason so even less people to sell onto!

Remember that you will be liable for the monthly maintenance fees until you sell, that is where the costs mount up, especially if you have inherited it.

Having said that I have my eye on one myself!

blahblahblah1654 · 16/07/2023 18:18

Who the hell retires at 50 these days? Plus I'd guess they're more aimed at elderly people at 50 isn't elderly! I'm nowhere near 50 yet but I see that as young. I can't imagine it would appeal to many

LividHot · 16/07/2023 18:20

Good grief. I’m 43 with a toddler.

Can’t imagine looking in seven years, unless I achieve my goal of meeting a billionaire nonagenarian.

MrsMoastyToasty · 16/07/2023 18:23

I'm 57 and working full time in a new job. Our lot all live to be over 90, anyway.

ConnieLinggusThe69th · 16/07/2023 18:30

Yeah it's changed to over 55s: there's some lovely ones near me and they have community events there too and I sometimes feel a bit jealous that children can't be raised in these types of housing as I think it'd be amazing for people who aren't elderly but have particular disadvantages eg anxiety, agrophobia if housing simply had communal facilities- like a shared communal space indoors or a hair salon or art studio etc

I understand they're actually for those who want peace so me and my DC wouldn't make great neighbours for them as much as they would for us!

Not having kids around and bothering over grandchildren making noise is all that would stop me from moving into one tbh - I wouldn't care about it losing value- my investment would be what it would give me for the rest of my life but obviously you'd have to want that enough to not care you weren't passing on a property to your kids

OddBoots · 16/07/2023 18:35

Given the high annual costs of such places they have probably put the age up as they know how likely it would be someone would run out of money before they died otherwise.

It may be that some local authority or housing association places as still 50+

ConnieLinggusThe69th · 16/07/2023 18:36

ConnieLinggusThe69th · 16/07/2023 18:30

Yeah it's changed to over 55s: there's some lovely ones near me and they have community events there too and I sometimes feel a bit jealous that children can't be raised in these types of housing as I think it'd be amazing for people who aren't elderly but have particular disadvantages eg anxiety, agrophobia if housing simply had communal facilities- like a shared communal space indoors or a hair salon or art studio etc

I understand they're actually for those who want peace so me and my DC wouldn't make great neighbours for them as much as they would for us!

Not having kids around and bothering over grandchildren making noise is all that would stop me from moving into one tbh - I wouldn't care about it losing value- my investment would be what it would give me for the rest of my life but obviously you'd have to want that enough to not care you weren't passing on a property to your kids

That said, either they have an influx of violent crime or they're frequently dying and possibly bought instead of nursing care by some families who can afford it as a middle man somewhere between them moving them in with younger relatives to care and them being put in a home with round the clock carers and may only be being purchased by those around 90ish who can be cash buyers because they've often got ambulance's coming and going. And more police than your average street

TobiasForgesContactLense · 16/07/2023 18:37

The one my MIL lives in is over 60 unless you have a disability in which age you can get in at 55. Unlike some others the service charges are reasonable. Although they don't appreciate in value as it is now worth pretty much the same as when built in 1987 (and when she bought in 8 years ago).

My DH is 55 and can't imagine living in one at this stage although that may be because we have a 7 year old!

ErrolTheDragon · 16/07/2023 19:18

There's a big new set gone up near us - I think they may only be for rental and for over 60s.

Even that seems a bit young to me for that sort of place (we're 62)

Dibblydoodahdah · 16/07/2023 19:20

There’s one near me that’s over 70!

mastertomsmum · 16/07/2023 19:28

A 62 year old colleague is about to move to one. It’s near us and all people I know who live there are 75 plus. I kind of understand why he’s buying one now - he’s single, sold his own house a few years ago to look after his mother so he has the money to buy the retirement property and will share inheritance with a sibling - but 62 seems young

PurpleButterflyWings · 16/07/2023 19:37

You couldn't pay me to buy one of these overpriced hovels. OR live in one even (rented...) Couldn't bear to have to keep socialising and talking to people I CBA with, and much prefer my own company, and DH's of course, and the adult DC and a couple of friends, These places promote forced socialising with people you would never give the time of day normally.... ewwww

And as has been said, they are almost impossible to sell. We live in a lovely little 2-bed cottage in a cute rural village, and one these shitholes has been built some 7-8 miles from us, and since they started building them 2 years ago, we have had a leaflet through our door trying to sell one of them to us... every single month. So, about 20-25 so far!

£200K for a 1 bed 'apartment,' and £275K for a 2 bed. Trying to promote them by saying 'close to all amenities! la la la...' Meaning 2 minutes walk to a huge supermarket, right next to a busy A road, and 10 minutes walk to 5 or 6 pubs, wine bars, takeaways, and a couple of clubs that are open til 2am some nights. Yeah, really appealing!

I think I will stay in our little cottage (that we have mortgage free) with a large garden, bid driveway, and garage, that is near the canal, woodlands, and river, where you can hear a pin drop at night! And where there is a lovely community. Why these people pushing the leaflets through our letterboxes in our village thought we'd swap living here for THAT shithole just baffles me to be honest.

OhComeOnFFS · 16/07/2023 19:44

They have all sorts of problems.

High service charges
You're not allowed to rent it out
If you sell it, you have to sell someone who's also over that age
If you can't sell it you have to continue to pay the service charge and council tax etc

It can be a nightmare with inheritance, if the deceased only leaves the property and no money, as the inheritors have to pay the service and council tax bills, even if they can't sell it.

PurpleButterflyWings · 16/07/2023 19:49

BIG driveway, not BID!

PurpleButterflyWings · 16/07/2023 19:49

@OhComeOnFFS Yes to all that ^

ginghamstarfish · 16/07/2023 19:51

My MIL has just moved into one of these ... told DH to tell her it would be a nightmare to sell, would lose money,and charges still have to be paid until it (if ever) sells .... he said her choice, but of course when the time comes we will be the ones trying to get rid, and paying the charges (£400 a month at present). She'd have been much better off staying in her lovely bungalow and spending that £400 a month on more help when needed, but apparently not my place to say!

CovertImage · 16/07/2023 19:53

blahblahblah1654 · 16/07/2023 18:18

Who the hell retires at 50 these days? Plus I'd guess they're more aimed at elderly people at 50 isn't elderly! I'm nowhere near 50 yet but I see that as young. I can't imagine it would appeal to many

They're not retirement homes, they're over 55s homes. I moved into a private one as a rental as soon as I turned 55 as the flat is beautiful and modern and the rent is less than normal private rentals where I live. I have 10 more years to work before I retire as have several of the other people who live here. As rentals, they're great if you can get one. This:

These places promote forced socialising with people you would never give the time of day normally.... ewwww

is silly, childish bullshit. I have a normal social life outside of the place. I've never been to any of the stuff they occasionally organise for some of the other people who live here. I wish people wouldn't spout shite about things they haven't experienced.

Margoliciously · 16/07/2023 19:54

All of these issues are mainly inheritance ones though. Actually living in these places can be social and safe for people who would be lonely and may struggle with housing upkeep otherwise.

resipsa · 16/07/2023 19:57

I'm 52 with a 7 year old. I regularly get mailshots. Imagine the other residents' reactions if we rocked up to stay one day...

watcherintherye · 16/07/2023 20:08

PurpleButterflyWings · 16/07/2023 19:37

You couldn't pay me to buy one of these overpriced hovels. OR live in one even (rented...) Couldn't bear to have to keep socialising and talking to people I CBA with, and much prefer my own company, and DH's of course, and the adult DC and a couple of friends, These places promote forced socialising with people you would never give the time of day normally.... ewwww

And as has been said, they are almost impossible to sell. We live in a lovely little 2-bed cottage in a cute rural village, and one these shitholes has been built some 7-8 miles from us, and since they started building them 2 years ago, we have had a leaflet through our door trying to sell one of them to us... every single month. So, about 20-25 so far!

£200K for a 1 bed 'apartment,' and £275K for a 2 bed. Trying to promote them by saying 'close to all amenities! la la la...' Meaning 2 minutes walk to a huge supermarket, right next to a busy A road, and 10 minutes walk to 5 or 6 pubs, wine bars, takeaways, and a couple of clubs that are open til 2am some nights. Yeah, really appealing!

I think I will stay in our little cottage (that we have mortgage free) with a large garden, bid driveway, and garage, that is near the canal, woodlands, and river, where you can hear a pin drop at night! And where there is a lovely community. Why these people pushing the leaflets through our letterboxes in our village thought we'd swap living here for THAT shithole just baffles me to be honest.

You don’t like the sound of it, then…?

Gingernaut · 16/07/2023 20:11

We've got social housing version coming up near us soon

Build to rent is the new 'thing' - it's council housing by another name