I'm trying to push help my parents sell their house and downsize and they have been trying to find an apartment within a luxury complex. They weren't looking for retirement properties, actively avoiding them if anything as both in denial about old age despite being 79 & 80, but they've found a new development in the ideal location & exactly the type of place they want in a retirement complex.
The facilities are amazing and would be much better than some of the other non-retirement places they've seen but it comes with high service charges and exit fees. They are well within their means (working on a potential/ambitious 20 year plan) but am I right to be concerned about the future should they need to sell to pay for one or both to be in a care home or if it doesn't sell quickly upon their death? I'm not bothered if all my inheritance is spent on this if it makes them happy and comfortable but no way could I afford to pay for care home or these service charges myself.
Anyone had experience of this type of development? The one they are looking at is Elysian in Hampstead but guessing they are much the same wherever you are.