As we enter our later years of life, the idea of moving somewhere more comfortable to enjoy our retirement can become more enticing. Specialised ‘Retirement Villages’ have seen growing popularity since they were first introduced to the UK in the 1980s, and are an appealing option for people looking to downsize. These are large developments, usually in attractive rural settings, built with older people in mind who wish to continue living independently, whilst also making adjustments for their age. Retirement Villages will usually offer a variety of leisure facilities, such as swimming pools, gyms, restaurants and bars, will arrange for various social activities and excursions for the residents, and offer care and assisted living services for those that need them.
Whilst retirement villages may seem an attractive proposition on the face of things, they do bring with them several legal and financial implications that you would not find in a ‘standard’ property. It is very important to take these into consideration when planning your move.