Retirement villages are becoming increasingly popular in the UK as places where people can enjoy the freedom and independence of later life as part of a vibrant and safe community.
Traditionally, the majority of homes in retirement villages have only been available to people who were willing to purchase a flat or cottage. However, at Inspired Villages, we recognise the importance of providing people with options for the perfect home in retirement, and now offer a number of properties to rent in all of our villages across the UK.
According to research published by the Centre for Ageing Better in 2018, 414,000 older people are choosing to rent now, up from 254,000 in 2007. Furthermore, they predict that by 2040, a third of people aged 60 and over could be living in privately rented accommodation. This is unsurprising as there are numerous benefits to choosing to rent a home in your later years rather than buy one.
The benefits of renting a home in a retirement village
By selling the family home once the kids have flown the nest and choosing to rent somewhere that better suits your needs, you can release capital that you can then spend on enjoying your retirement the way you want, or even gift it to members of your family. Moreover, at Inspired Villages, we include all bills (utilities, broadband etc) within the rent, so there is only one, consistent invoice for residents to pay, which allows for easier budgeting.
Freedom from home maintenance
Owning a home comes with a number of commitments; if the boiler breaks or the roof leaks, you are responsible for fixing these problems. However, when you rent the landlord will take care of these issues, which after decades of the stresses of homeownership can be a welcome relief when you just want a peaceful retirement. At Inspired Villages, our maintenance teams are always on hand to help with any problems around your home.
Ability to try living in different locations
Perhaps you’ve always thought you’d like to live in by the sea in Exeter? Or that you’d like to see if living in ‘Shakespeare’s Country’ is as picturesque as everyone says it is? (Short answer: it is!) Well, renting allows you to try living that dream, and if you like it, great, but if you don’t, it is much easier to move on to somewhere new. Plus renting is more affordable than purchasing a home outright, so it can allow you to live in popular areas that you may otherwise be priced out of.
Room to consider your next move
A final benefit of renting in a retirement village is it buys you time to consider your next permanent move if you think you might like to buy somewhere again but want to make sure you’re buying the right place for you while also selling your house at the right time. The flexibility of renting in a retirement village means you can move in and move out easily, and while you’re pondering your next move, enjoy lovely facilities and a ready-made community of people at a similar stage in life. Who knows you might even decide to stay and buy?
If you'd like to find out more about us, or our properties to purchase, request a FREE brochure today.
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