Renting in retirement with Birchgrove

Round & About

retirement

The start of a new year is usually a time when some sort of thinking and planning gets underway. Maybe it is a cue for change, and time to look at a retirement option that could be practically perfect in every way.

Renting is no longer the preserve of the young, and like millennials, many in later life are turning towards the flexibility and benefits it offers. The appeal may not be immediately obvious to those accustomed to home ownership, but for a variety of people and reasons it can uplift your whole quality of life and be liberating.

Renting in retirement opens up all sorts of possibilities for people who may otherwise have been excluded from retirement living. They may want to pass wealth on to their children or move to a more expensive area to be near them. At Birchgrove, we’re 100% committed to renting in retirement.

Why rent?

Flexibility is one of the reasons residents find renting so attractive. Such is the case with Diane, who told us why she chose to rent rather than buy. “Flexibility. I’ve moved into a two-bedroom apartment at Birchgrove but I can move into a one bedroom if I want to. I’ve also got the flexibility to move out and into a different retirement facility if I don’t like it here. I really don’t know what my needs will be in the future but renting here gives me the flexibility to move quickly into a care home environment or in with my family without the burden of the house to sell.”

Another reason rental is popular with older adults, is many have already built their wealth. They see a lot of money going into the maintenance and repair of their family home and think that money could be put to better purpose. Perhaps into retirement funds that benefit the family or using it to enjoy a better quality of life. So, whilst some argue that paying rent is throwing money down the drain, the truth is this more applies when you are building your wealth. Late renters have a different perspective, they are working out the best way to disperse their accumulated funds and planning and preparing how best to enjoy their future years.

There are of course many advantages to buying off plan. Peter, a retired director, thinks renting his two-bedroom apartment at Woodbank Apartments, Hook Heath is the best decision he’s made. As he explains: “We decided to sell the house and rent somewhere so we could release capital to our children. What persuaded us to rent was we found people had bought flats and then died leaving their families struggling to sell their parents’ flat because people could buy brand new at the site next door. My wife and I fell in love with Woodbank Apartments. We bought early off plan, so we could take our time designing the apartment exactly as we wanted it.”

Birchgrove apartments are not for sale, so you won’t find our retirement advisors pressurising you to buy; they are simply here to help you think about things differently and work out what options are open to you. To find out more visit www.birchgrove.life or call 020 3929 5599.

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A new lease of life

Round & About

retirement

A move to McCarthy Stone’s Jupiter House in Milton Keynes has helped give a retired newsagent a social network and greater peace of mind  

Having spent nearly 40 years behind the till of their family-run newsagents alongside her husband, Jill Lee, 75, was used to the hustle and bustle that comes with being at the heart of the community. 

After the loss of her husband Graham over 10 years ago, Jill and her family decided that it could be a good time for her to downsize and luckily, spotted McCarthy Stone’s Jupiter House under construction, just a ten-minute walk from daughter Katie’s home near Milton Keynes. 

“There’s always someone to have a chat with and I’ve got all of my friends right on my doorstep!”

Katie says: “We decided to move mum into a relatively new house, in a quiet cul-de-sac but after 40 years of living in a busy newsagents, it was just too quiet for her and she was becoming quite lonely and isolated.” 

Jill’s younger daughter, Isobel, lives in California with her two children, and with the pandemic severely impacting travel, being closer to loved ones was something the family felt would be beneficial for Jill. Katie says: “We were driving around one day near to where we live in Milton Keynes when we spotted the hoardings going up for Jupiter House. I said ‘why don’t you move here so you’re closer to us?’ and mum agreed so we registered as soon as we could!” 

Jill and her daughter Katie

After so many years being surrounded by people, this was an important factor in Jill’s decision to move, as she explains: “Our life was the newsagents, we used to open at 6am and close at 8pm at night, meeting and talking to people – that’s what we loved to do. When my husband died and I moved, although I had neighbours, they were always out at work, and really, I led quite a lonely life and I missed having people around me. Now, there’s always someone to have a chat with and I’ve got all of my friends right on my doorstep!” 

Since moving into her one-bedroom apartment in May 2021, which she did using McCarthy Stone’s convenient ‘Smooth Move’ scheme, Jill has wasted no time getting to know her new neighbours, and has even started what has become known as ‘The 2 O’Clock Club’ with some of her fellow homeowners. 

As well as offering a much-needed social network it has made a positive impact on Jill’s life and also offered the family greater peace of mind and the safety net of knowing Sarah the House Manager and her team are on hand if needed. Jill added: “We can’t speak highly enough of them; they’re always going out of their way to help.” 

Jupiter House features a selection of one and two-bedroom apartments, built exclusively for the over-60’s. Homeowners can also enjoy a spacious communal homeowners lounge and beautiful landscaped gardens while visiting relatives can make use of the handy hotel-style guest suite. 

Prices for the one and two-bedroom apartments at Jupiter House currently start from £225,000 and £340,000 respectively. Rental and part buy part rent options are also available to make moving even easier. 

For more information on Retirement Living in Milton Keynes, please call 0800 201 4743 or visit www.mccarthystone.co.uk. 

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