Can I Live in a Retirement Village? 14 FAQs

Is a retirement village right for you? Your top 14 FAQs, answered

We pride ourselves on creating stylish, secure and sociable retirement spaces. From a strong sense of community to our pet-friendly policies, we offer everything you need to feel at home. These 14 retirement FAQs will help you decide if a retirement village is right for you.

1. Should I move into a retirement community?

If you’re over 55 and looking to fill your retirement with hobbies, friends, and new memories, a retirement village could be right for you. Retirement communities are often low or no-maintenance, with a built-in social calendar to help you settle in and meet new people with similar interests.

Moving to a retirement village doesn’t have to mean distancing yourself from friends and relatives, either. In fact, at McCarthy & Stone retirement communities, your loved ones can access a hotel-style guest suite and parking space for easy visits.

2. What are the benefits of living in a retirement community?

Our retirement communities provide attractive homes in incredible locations across the country – but there’s much more to them than that. According to a study by ARCO, the benefits of retirement homes and communities can include:

• Staying healthier for longer
• Improved social connections and reduced loneliness
• A greater sense of security
• Overall greater enjoyment of life

Residents also reported feeling greater control over their own lives, with 6% wishing they’d moved in sooner. 

3. Can anyone live in a retirement community?

Put simply, not everyone can live in a retirement village. At McCarthy & Stone, we specialise in retirement communities for people aged 55 and over, which is why our retirement villages have age restrictions:

• Our Retirement Living independent lifestyle homes are designed for those aged 60 and over. If you are planning to move in with a partner or a friend, one of you must be over 60 and the other must be over 55.
• Our assisted living homes are for people over 70, but a second person living in the property can be over 65.

At both types of communities, you can enjoy sociable lounges and communal gardens, as well as pet-friendly, comfortable properties. For those over 70, our specialist communities can also include bespoke domestic and lifestyle support services.

4. Can a young person buy a retirement property for their parents?

There is no age limit on who can buy a retirement property, as long as the person living there meets any age requirements. This means that should you wish to buy a retirement home on behalf of your parents or loved one, you can.

5. What is it like living in a retirement village?

Life is different in every McCarthy & Stone location, but some things are universal: opportunities for connection, the ability to set your own pace of living, and our thoughtfully-designed properties.  

The best way to understand whether living in a retirement village is right for you is to get in touch and arrange a tour of the property, or attend a coffee morning or one of our other open house events. Here, you can meet the residents who might become your neighbours, as well as the team.

6. Can you still work and live in a retirement village?

Yes, you don’t necessarily have to be retired to enjoy our retirement communities—as long as you are aged 60 or over, you can enjoy living in a retirement village with McCarthy & Stone. Whether it’s taking up a new hobby or working in retirement, our homeowners like to keep busy. That’s why we use the term ‘retirement’ loosely!

7. How much does it cost to comfortably retire?

How much it costs to retire can differ depending on your lifestyle, living conditions, any care costs, and other factors. It is recommended to have between £30,000 and £40,000 saved each year. This can include state and private pensions, though it is best to speak to a financial adviser to understand the tax implications and how much you may need to save outside of this. In general, the sooner you start saving, the more luxuries you can enjoy in retirement.

8. How much does it cost to live in a retirement community?

The cost of living in a retirement community depends on the location, the size of the property and the level of support you’d like. Our independent living homes provide an affordable option for those aged 60 and over. Reduced energy bills and lower living costs from downsizing mean you may be financially better off in a retirement village than in your current home.

If you are in need of long term care, a typical residential care home costs an average of £32,000 a year – approximately £13,000 a year* more than you would pay with our Retirement Living PLUS apartments, which offer assisted living facilities and services, as well as care support on hand.

9. What is a service charge and how are they calculated?

Anyone living in a housing development with communal areas pays a service charge to look after them. However, ours goes towards paying for the specific services that make retirement more enjoyable and allow you to focus on what matters most: living your life without worrying about chores! Things like:

• Looking after the shared spaces
• Any care or personal services
• Maintaining the facilities, e.g. gardening, lift maintenance and window cleaning.

Importantly our service charge also pays the wages of our lovely on-site managers.

Service charges are calculated annually and we negotiate the best price with service providers to ensure they remain fair. We provide full transparency—and homeowners have a clear overview so they know what to expect.

10. How does McCarthy & Stone cater to the needs of homeowners?

Our retirement properties are beautifully designed and packed with clever ‘hidden’ home adaptations to make life easier as you get older – from slip-resistant flooring in the bathroom to higher ovens and plug sockets in the kitchen – maintaining your comfort without compromising on style.

Our developments are thoughtfully created for a relaxing retirement, too. With private homes in locations you’ll love, our Retirement Living developments are perfect for those over 60 who want to lead a sociable but independent lifestyle as part of a community.

Our Retirement Living PLUS developments are ideal for those aged 70 and over, who’d like independence with the reassurance of a bit more support on hand. Additional benefits include an on-site bistro serving delicious, reasonably priced meals, tailored personal care and options for laundry services, cleaning and more — as well as a manager on-site 24-hours for complete peace of mind.

11. Can I rent a retirement property?

Yes. We pride ourselves on offering a range of flexible options to help you move into your new home on your terms, whether you prefer to buy, rent, or take part in a Shared Ownership plan.

Buying a retirement property

Buying a home means you’ll own the property outright. We can offer plenty of support to help you to move, including things like part exchange and our Smooth Move service. And when the time comes to move, our properties can be sold through our specialist Resales team.

Renting a retirement home

Renting is a popular option for those who’d like to move in quickly. Flexible, fast and with carefree maintenance, it’s often a great option for people who want to try living in a retirement community without the full commitment of a purchase.

Shared Ownership

With Shared Ownership, you can have the lifestyle without paying the full price for your new retirement home. For example, on participating properties you pay just 75% of the full value with no rent to pay on the rest**.

12. What does buying ‘off-plan’ mean?

The term ‘off-plan’ refers to a retirement property that’s still being built. When you buy a property off-plan, it’s usually around six months before it is ready to move into. Why should you buy off-plan? Off-plan homes can be cheaper – and you get first choice of properties too.

13. What if someone develops dementia?

Our retirement properties are designed for independent living for the over 60s, and assisted living for the over 70s, so they’re not suitable for people who require around-the-clock care. However, McCarthy & Stone is committed to being a dementia-friendly organisation.

Our developments and range of services allow us to make a difference to people’s lives, and we want to see people with dementia being able to live longer in their own homes when it is in their interests to do so. Find out how we support people and their friends and family after a dementia diagnosis.

14. Can I bring a pet?

Yes! We understand that pets are an extension of your family and make your house feel like home. We offer pet-friendly retirement homes, so as long as your pet meets the requirements of our pet policy, we’re more than happy to welcome them into our communities.

Retire confidently with McCarthy & Stone

We understand that moving to a retirement community is a big task – especially if you’re looking to downsize your current home or move to a new part of the country. That’s why we give you support every step of the way.

From choosing your perfect retirement home to browsing our full list of FAQs and homeowner testimonials, we’re here to help.

Got a question that we didn’t cover?

Call us today on 0800 201 4811 or contact us online.

* Research carried out by LaingBuisson, 2018
** Other shares available, with monthly rent. Qualifying criteria apply. Shared Ownership is available on selected apartments at participating developments only. Not available with Part Exchange.