Retirement properties

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Retirement properties

Postby Pepper Pig » August 23rd, 2017, 10:15 am

I don't wish to hijack the Parents thread but I'm after some advice re retirement/sheltered housing places for my mum.

She was 89 last week, has all her marbles and still drives. She lives alone in a 3 bedroomed bungalow in a small village between Kettering and Oundle. She and my stepfather moved there 25 years ago, he died in 2004 and she's been on her own ever since. She has a great social life, does talks about being torpedoed in the War to lots of local groups but has decided it's time to call it a day up there and move closer to us. There are two problems, London prices and the fact that neither me nor my sister wish to stay in Harrow. (If you know Harrow you will know what a dump it is). :o

So. Anne and I are looking at properties that might fit the bill. She needs a warden and preferably 2 bedrooms. The waiting lists have been closed on the two we found at Abbots Langley which would be ideal.

This is being built next year and could fit the bill.

https://www.extracare.org.uk/hughenden-gardens-village/

Are there any firms to avoid? So far we have also looked at Churchill, McCarthy and Stone (both expensive) and Hanover.

Your practical advice and experiences please. :tu:
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Re: Retirement properties

Postby StokeySue » August 23rd, 2017, 10:27 am

I haven't been into it in depth, but get proper financial advice, because I do remember from discussions with FCQ there is a school of thought that says if you are moving as late in life as your mother it's easier to sell up and then rent, which would widen her options, and means you have funds to buy new furniture and furnishings for the new place

I don't know of course, just don't rule it out without investigation
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Re: Retirement properties

Postby scullion » August 23rd, 2017, 10:37 am

not a retirement home but http://www.wymondley.com/index.htm is the place we had proposed for my mother before she died - it was where my grandmother had been and there were still staff there who remembered her. we were very impressed with it.
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Re: Retirement properties

Postby Pepper Pig » August 23rd, 2017, 10:42 am

Sorry Scully she refuses to go into a home or even look at one. She wants to buy a retirement property. Sue, we had the same advice re renting but she is adamant that she won't do that as she will still have responsibility for the bungalow which is one of the things that worries her now.
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Re: Retirement properties

Postby StokeySue » August 23rd, 2017, 10:46 am

Why will she still have responsibility for the bungalow if she sells it and buys or rents a flat? :?
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Re: Retirement properties

Postby Pepper Pig » August 23rd, 2017, 10:56 am

Pepper Pig wrote:Sorry Scully she refuses to go into a home or even look at one. She wants to buy a retirement property. Sue, we had the same advice re renting but she is adamant that she won't do that as she will still have responsibility for the bungalow which is one of the things that worries her now.


Sorry, misread your reply Sue. I think she'd be worried the money would run out though knowing her. We come from a line of very long-lived women. This may well be a paper exercise once she gets down to the nitty gritty anyway. She would only get about 300K for her bungalow and I know she wants to put it back into bricks and mortar as she has hardly any savings left.
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Re: Retirement properties

Postby earthmaiden » August 23rd, 2017, 11:25 am

Gosh, I have looked at the retirement complexes being built round here and most the dwellings are over £300K.

One of the things you have to watch with retirement villages are the service charges. Providing all the nice services is expensive and you have to really look at whether the person or the family can budget for it as well as allowing for charges to go up. (You also have to make sure that the promised amenities are kept going, I have known of places which initially offered a lot of activities and services but gradually dropped quite a few of them).

What a shame your mother wouldn't consider staying in her current area with the opportunity to keep some of her current social activities going.
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Re: Retirement properties

Postby Pepper Pig » August 23rd, 2017, 11:39 am

earthmaiden wrote:Gosh, I have looked at the retirement complexes being built round here and most the dwellings are over £300K.

What a shame your mother wouldn't consider staying in her current area with the opportunity to keep some of her current social activities going.


I doubt she'll find anything. These companies are notoriously discreet about advertising their retail prices! But I wanted to research it properly so that she can see the options for herself. My chum with the nutty, disabled brother is also looking to rehouse him in the same area. There are certainly are places to be had at lower prices but they all have waiting lists. I know the High Wycombe village was affordable to him and he has less money to spend than Mum.

She doesn't want to be a burden to her friends is her reason for moving . . . . :rolleyes:
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Re: Retirement properties

Postby earthmaiden » August 23rd, 2017, 11:41 am

:hug: :hug: :hug: probably best to visit some of these places to see if they are as nice as their blurb.
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Re: Retirement properties

Postby Busybee » August 23rd, 2017, 11:54 am

Also bear in mind that the service charge quoted is the basic price, if your mum needs to pull the panic cord etc each pull is charged for as an extra. My late MiL lived in a retirement complex on the Wirral and to be honest the service charge was nearly as much as a monthly rent would have been, having said that she was very happy there and the amenities were good. The manager was also very helpful in sourcing a care home for her when her needs were such that she needed to move on.

When your mum does then need to move bear in mind that you have to sell through the company and pay quite a hefty fee. But again we did manage to sell her retirement flat fairly easily, I think there is a good resale market in desirable complexes.

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Re: Retirement properties

Postby PatsyMFagan » August 23rd, 2017, 11:57 am

Have you looked at Homemanor in Watford PPig ? It's on the Cassiobury Road, almost opposite the Colosseum ... I can get some details if you want - I know 2 ladies who live there ... but the flats sell quite quickly.
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Re: Retirement properties

Postby Pepper Pig » August 23rd, 2017, 11:59 am

Thanks for the tip Pat. I'll google it.
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Re: Retirement properties

Postby Herbidacious » August 23rd, 2017, 12:14 pm

Busybee wrote:Also bear in mind that the service charge quoted is the basic price, if your mum needs to pull the panic cord etc each pull is charged for as an extra.


:shock: it's a good thing they do this with my mother. She certainly gets her (monthly) fee's worth with the company she uses!
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Re: Retirement properties

Postby Pepper Pig » August 23rd, 2017, 1:58 pm

PatsyMFagan wrote:Have you looked at Homemanor in Watford PPig ? It's on the Cassiobury Road, almost opposite the Colosseum ... I can get some details if you want - I know 2 ladies who live there ... but the flats sell quite quickly.


That's a fab website Pat. Gives links to retirement places all over Herts/Middlesex. It will keep Mum occupied for days! :D

The Cassio one looks great and would be handy both for us and the Abbots Langley crowd. Thanks again. Will PM you if she needs more details.
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Re: Retirement properties

Postby Pepper Pig » August 23rd, 2017, 3:04 pm

One thing. I know she is aware of expensive service charges but what do they actually include? Is it just general manintenace of the property or does it include any utilities or Council Tax?
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Re: Retirement properties

Postby PatsyMFagan » August 23rd, 2017, 5:31 pm

Pepper Pig wrote:One thing. I know she is aware of expensive service charges but what do they actually include? Is it just general manintenace of the property or does it include any utilities or Council Tax?


I can ask my oldies that question if you would like ... ;)
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Re: Retirement properties

Postby Pepper Pig » August 23rd, 2017, 5:33 pm

No rush Pat but yes please!
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Re: Retirement properties

Postby miss mouse » August 23rd, 2017, 7:11 pm

I expect that it will be a leasehold flat. Leaseholder will be expected to pay their own utilities including Council Tax. The service charge will cover maintenance, decoration of common parts, buildings insurance (not contents), grounds maintenance, concierge services and any on site help available. Not cheap I think.
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Re: Retirement properties

Postby suffolk » August 24th, 2017, 6:39 am

Image
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Re: Retirement properties

Postby Pepper Pig » August 24th, 2017, 8:15 am

Thanks Suffs. I will send her those links. :tu:
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Re: Retirement properties

Postby miss mouse » September 20th, 2017, 3:18 pm

Money Box, R4 3pm today discussed 'Later Life Living'

http://www.bbc.co.uk/programmes/b093hwd2

Interesting
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Re: Retirement properties

Postby Pepper Pig » September 20th, 2017, 3:35 pm

Thanks Miss Mouse. Mum has rather gone off the idea for the time being - she is waiting for the shared dog to die. :o She has all the facts now though so me and my sis rest easy.
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Re: Retirement properties

Postby miss mouse » September 20th, 2017, 3:48 pm

miss mouse wrote:Mum has rather gone off the idea for the time being


Probably a good thing, there are some very bad deals around.
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Re: Retirement properties

Postby Pepper Pig » September 20th, 2017, 4:21 pm

I think she's trying to get her head around renting being better than buying.
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Re: Retirement properties

Postby miss mouse » September 20th, 2017, 4:27 pm

From my reading that is a much better idea. I am not an expert though.
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