What are the disadvantages of living in a 55+ community?The disadvantages of retirement communities include they aren't cheap, could be in a less than an optimal location, smaller living area, lack of diversity, cliques/gossip and restrictive/excessive rules. They can range from condo/apartment style facilities to gated communities with individual houses.
Why are retirement flats not selling?Why are retirement flats not selling? Selling retirement flats can actually be harder than selling a similar property on the wider market. This may be because there are age restrictions on who can live in it, making the pool of potential buyers smaller.
How do over 55 properties work?Older People's Shared Ownership
You buy part of a property and pay rent on the remainder. You can buy further shares in the property, up to a maximum of 75%. After this point, you won't pay any rent. The scheme is available in England only.
How does over 60 house buying work?The Home for Life Plan explained
The Home for Life Plan is a Lifetime Lease option for people aged 60 years old or over. Choosing a Lifetime Lease means you could pay up to 59% less than the market price to live securely in your new home without rent, mortgage or any interest repayments for your lifetime.
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