The Benefits of Part Ownership in RetirementCopy link
Planning for our retirement years often revolves around the home. Whether you are choosing to seek out a new property with a view to downsize (or ‘right-size’ as we prefer to call it!), be closer to family, or release equity – shared, or part ownership could provide you with the opportunity to do so.
It’s true to say that when you hear the term ‘shared ownership’ or ‘part ownership’ you inevitably think of the opportunities offered by developers of new build estates for first time buyers.
However, the benefits of shared ownership aren’t limited to first-time buyers. At Retirement Villages, new residents can purchase an initial 50% share of one of our beautiful new retirement properties, and enjoy the lifestyle and community that a retirement village offers, while renting the remaining 50%. The choice of purchasing the remaining share remains the decision of the resident through their occupation.
One of the principal benefits of part ownership is that it assists people who are looking to release equity from their property, allowing them to embrace everything that their retirement years have to offer.
But what other benefits does purchasing through part ownership bring with Retirement Villages? We explain more below.
Your retirement years are to be enjoyed. Purchasing a property through a shared ownership scheme allows individuals to free up equity. This means that you can use this financial freedom to create a wonderful retirement lifestyle that encompasses all of your favourite past times and activities.
Many of our residents spend their time travelling and enjoying holidays, by themselves or with their families, while others immerse themselves in lifelong hobbies or take up new hobbies they have always wanted to try.
Access to luxury properties
Part ownership allows individuals to access a luxury property that they perhaps would have previously dismissed as unobtainable.
From Dorma bungalows, through to penthouse apartments, there are a range of retirement properties styles and sizes to choose from and enjoy, all built to an impeccable standard with the finer details taken care of.
Our bright and spacious properties are designed and built with comfort in mind. Fixtures and fittings have been chosen to be at an appropriate height to reduce unnecessary discomfort through bending and stretching – for instance, ovens at eye height.
Peace of mind
Buying a property through a shared ownership scheme still provides you with full access to owning a home without the associated burdens. Our villages are set amongst landscaped grounds and gardens, all of which our residents are free to enjoy without being responsible for the maintenance.
At many of our villages domestic cleaning and laundry services are included in the offering, taking some of the mundane daily chores out of your to-do list!
It’s a fact of life, that as we become older, we may need extra support from time to time, and we pride ourselves on removing the worry of becoming vulnerable. Our villages have qualified and trained members of staff on site 24 hours a day to cover circumstances that require emergency first response. While during the day, we have staff that can provide guidance on health matters and liaise with family and healthcare professionals.
Embrace a like-minded community
Purchasing a property with Retirement Villages gives you access to a warm and welcoming community of like-minded individuals, all enjoying their retirement.
Life in each of our villages centres around a clubhouse. The facilities in the clubhouses vary across locations, but include coffee lounges, conservatories, a sun lounge, library, restaurant or bistro. These amenities also host the many clubs and societies that take place in the villages, from art, book and film clubs to yoga, Tai chai and bowls, there is something to suit all tastes, and a chance to discuss your recent activities at a weekly gathering at the resident’s bar!
Maintain freedom and independence
Purchasing a retirement property doesn’t mean that you have to relinquish your freedom and independence. The majority of our residents enjoy an active and fulfilling lifestyle, enjoying the onsite facilities, and the wider community offering.
While Retirement Villages strive to provide an enjoyable and supported environment, this is not at the expense of an individual’s liberty.
Of course, this list isn’t exhaustive, and if you think that you would like to hear more about our part ownership scheme, we would be happy to provide more information.