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Your Retirement Apartment Buying Guide

Find the right McCarthy & Stone retirement apartment for you

Many people choose to downsize to a retirement apartment for the active lifestyle it offers, with the added peace of mind that any help or assistance you might need in the future is close at hand. McCarthy and Stone offers a variety of products from Retirement Living to Retirement Living PLUS and Lifestyle Living so you can choose what's right for you depending on what stage of your retirement you're in.

Retirement Living

Buying a Retirement Living apartment gives you more than just a stunning new place to live, it gives you the security of knowing that there is a House Manager on-site to deal with the day to day running of the development, including organising the ongoing maintenance of the building, external window cleaning and landscaped gardens.

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Retirement Living PLUS

Retirement Living PLUS developments are designed for the over 70s to keep their independence whilst having the reassurance of management on site 24 hours a day, 365 days a year and a qualified team to provide flexible personal care and support packages, tailored around your needs.

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Selling your existing property

There are many options when it comes to selling your property and we are here to help and advise you every step of the way. If you decide not to sell a dependent property, we work with a specialist financial provider HBFS who can give you tailored free advice on the options available to you which may include part exchange or equity release.

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You may be entitled to money you don’t know about

McCarthy & Stone offer a FREE entitlement advice service. Entitlements can dramatically change as individual circumstances change – you may find that some of the costs involved in living in a McCarthy & Stone apartment may be covered by claiming for entitlements such as pension credit.

We offer a free and confidential review and explanation of entitlements, as well as offering assistance on form completion and/or referral to other organisations for further specialist assistance if required.

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How long does a development take to build?

Once a piece of land has been acquired, a planning application needs to be submitted and approved, taking on average 12 months. A build start will then take place within 6 months, and we expect the development to be ready for first occupations approximately 12 months from build start for a Retirement Living development and 18 months for an Retirement Living PLUS development. All dates listed are approximates and each site varies.

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When can I buy my apartment?

After approx. 9 months from the start of construction, a Sales Executive is appointed to get in touch with everyone who has registered their interest in the development. They will guide you through the process of buying off plan, helping you move and will be on hand to answer any questions that you may have. The Professional Advisor can meet you at a location to suit you and can also show you all of the different apartment plans, aspects and prices as soon as they are available.

Once a development has been completed, a Sales Consultant will be appointed on site and the show complex will open.

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What does buying off plan mean?

Reserving an apartment before it’s fully built gives you the best choice of apartments and having the dedicated service of our Professional Advisors who can co-ordinate your move every step of the way. Apartments are available to buy off plan approx. 9-12 months from planning approved at selected developments.

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Reserving your new apartment

Reserving your new McCarthy & Stone apartment couldn’t be easier. With the help of your Professional Advisor or Sales Consultant, they can guide you through the buying process, discuss your financial options for buying your apartment, organise to have an Estate Agent value your property and can liaise with your chosen solicitor or help you to instruct one of our preferred solicitors should you wish.

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Part exchange

If you want a quick, simple way to sell your home and move into one of our retirement apartments, then part exchange could be the answer.

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Why do I have to pay service charges?

For some, the service charge on a development may at first seem daunting. However, when you take into account exactly what is included, we believe you will find it represents value for money.

Find out more about retirement living Find out more about retirement living PLUS

Exchange of contracts

You will need to agree how to pay the deposit when you exchange with your legal advisor, which is usually 10% of the purchase price. Sign the contract ready for the exchange, and agree how to pay the balance of the purchase cost on completion.

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Arrange your move

Once you’ve bought your new apartment then you’ll soon be surrounded by boxes. Packing and unpacking can be exhausting, but we can arrange for our specialist removal company to come and pack your belongings, de-clutter if you choose, and transport your boxes to your new apartment. They’ll even unpack for you completely free, so you’ll be moved in and settled in no time. We’ll even arrange for our local handyman to be available to help you put up shelves or any other odd jobs you need doing at a reduced price to make your apartment to start feeling like your home.

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Final preparations for your move

There is a whole range of people and organisations who need to be told about your move. We have compiled a helpful list for you to use so that you can make sure that you have everything taken care of in preparation for moving day.

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The day before moving

Confirm all of your arrangements are made with your removals firm, or friends and family, who are helping you move.

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Moving day

Make sure that you turn off central heating, water, electricity etc, and note down all gas, electricity and water meter readings. Lock all windows and doors and arrange for the keys to be left with the estate agent/part exchange company for the new owners.

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Before moving into your new apartment

You’ll need to:

  • Check contracts are signed and the balance of the purchase has been paid so that legal completion has successfully taken place by calling your legal advisor
  • Meet with your Sales Consultant who will be there to give you your keys and see you into your new McCarthy & Stone apartment
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When do I have to pay the service charges?

When you complete on your new apartment, you will be required to pay for the rest of the service charge for that period upon completion. Then when the new service charge period begins, the Management Team will issue an invoice for that period and advise you when we will be collecting payments. service charges are collected by direct debit on a monthly basis and ground rent is collected on a 6 monthly basis. (not applicable in Scotland)

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