There is a growing demand for retirement homes in the UK. The ageing population is increasing and the desire to downsize from large family homes yet still retain independence is rising in popularity.
But what exactly is a retirement home, and how does it differ from other types of care housing, such as residential or nursing homes.
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Key points
- What a retirement home is – retirement homes (also called retirement living developments or assisted living) provide independent living in a community setting.
- Who they are for – they are best suited to older adults (usually over 55) who want to downsize, remain independent, but who do not need full-time personal care.
- Benefits – advantages include independence, social opportunities, support if needed and freedom from home maintenance.
- Costs – apartments usually range from £150,000–£400,000, while renting can cost £700–£1,500 per month. There tend to be service charges on top of buying and renting.
What is a retirement home?
A retirement home offers independent living in a community setting, giving older people access to shared amenities such as gyms, cafes, bars and swimming pools.
As their needs change they are able to access increased levels of care and support.
A person will either buy or rent their own apartment or bungalow.
Companies such as McCarthy Stone and Audley Villages are leading the way in providing retirement homes that often offer a luxurious style of living.
Retirement homes are also called:
- Sheltered housing
- Retirement living developments
- Senior apartments
- Assisted living
- Integrated Retirement Communities
Who are retirement homes for?
Retirement homes are best suited for:
- Older adults usually over 55
- Those who want to downsize from a larger property
- People looking to live among a supportive and sociable community
- Those who do not need intensive care and support but want to have some type of support available
- People who value their independence but want some facilities close by to make their lives easier and more comfortable
Thursday Murder Club increases interest in retirement homes
The Thursday Murder Club has succeeded in throwing retirement villages into the spotlight.
The book by Richard Osman has been turned into a Netflix film starring Helen Mirren, Pierce Brosnan, Ben Kingsley and Celia Imrie.
The retirees live in a luxury retirement home that used to be a stately home with landscaped gardens.
The fictional retirement home Coopers Chase was inspired by a real-life retirement village, St George’s Park, in Burgess Hill, West Sussex.
St George’s Park has 240 apartments which people can buy. On top of this they pay a yearly service charge.
Set in extensive gardens, the home’s facilities include a shop, bar, restaurant, bistro, library, swimming pool, gym, café and salon.
This is where Richard Osman’s mother lives. She describes the retirement home as a “happy place” saying “people come here because they want to”.
Speaking on the Penguin Podcast, Richard Osman, explained why he set his book in a retirement home.
“Firstly I found it very moving,” he said. “I found it very beautiful. Everyone’s in their seventies and, you know, we’re told to think certain things about people in their seventies. But they were having such a laugh. They were drinking, gossiping.
“There’s loads of politics. Extraordinary people from loads of different backgrounds all mixing together. And I thought this is an interesting gang of people.”
Challenges stereotypes about retirement homes
The film and book challenge stereotypes about ageing and retirement living, with Amanda Valentine, head of marketing at Rangeford Villages, saying: “Our owners all come from different walks of life and professions, much like the characters in The Thursday Murder Club, and we have noticed that despite their differences, many form new friendships through shared passions that enhance their lifestyle and sense of wellbeing.
“The storyline of the film gives a glimpse of what it’s like to live in a retirement village, which may come as a pleasant surprise to some! Our villages are similar – we create a hub for our owners to make friends and this can be transformative.”
Key features
- Rent or buy a flat or apartment or a bungalow – Residents live in their own self-contained home.
- Communal areas – People can use communal lounges, gardens, dining spaces, health and wellness rooms such as spas and swimming pools where they can meet other and socialise.
- Safety and security – Many retirement homes have secure entry systems and emergency call facilities which can be used 24/7.
- Care and support – Cleaning, laundry, and meals may be available.
- Community events – Social activities, clubs, and outings for residents.
Retirement homes vs Residential homes
There is a difference between a retirement home and a residential home
- Retirement homes – The main purpose of a retirement home is to offer the person independent living but with support if they need it.
- Residential homes – The main purpose of a residential home is to offer 24 hour personal care and support. Residential homes are also known as care homes and care for people who need a higher level of care and support than people who live in a retirement home. In a care home, a resident will tend to just have a bedroom with an ensuite bath or a shared bathroom. They will get help with things such as getting washed and dressed.
If you only need a supportive community where you can socialise and interact with other people but without the need for daily care, a retirement home would be the right choice for you,
Benefits of retirement homes
There are a number of benefits for someone choosing to go and live in a retirement property that offers assisted living.
As you age, your mobility decreases and your eyesight tends to deteriorate so you may lose your confidence in driving. People may lose their life partner and after living with someone for decades, will find themselves living on their own.
carehome.co.uk spoke to Mary Cook who was known for her cheeky comments on Channel 4 Googlebox with her friend Marina Wingrove. The pair met at a retirement home in Bristol run by St Monica Trust and became firm friends.
Mary, who was 92 when she died, loved living at the retirement village and told carehome.co.uk : “I wouldn’t move anywhere else even if I won the lottery. I lived on my own for a year after my husband died and I didn’t like it.”
Here are some of the benefits of living in a retirement home
- Independence – you can live in your own apartment or bungalow with flexibility to come and go as you please.
- Community living – there are lots of opportunities to make friends and stay socially active as many retirement homes offer clubs, activities and days out.
- Safety – retirement homes will have an emergency support system you can call if you have a fall. They will also have security measures giving people reassurance that they are safe
- No need to do maintenance – living in a retirement home will mean you won’t have to worry about repairs as these will be for you.
- Peace of mind for your family – Your family will feel secure knowing you are living in a safe environment.
- Pet-friendly – a lot of retirement homes are pet-friendly so you can bring your pet with you.
How much does a retirement home cost?
The cost of retirement homes in the UK varies depending on the type of property, location, and services provided.
For people downsizing from a large family house, they can free up some money from their house and move into an apartment with lower energy bills as well as cheaper maintenance and running
Typical costs may include:
- Purchase price or rental fees – to buy or rent the apartment or bungalow
- Service charges – covering maintenance of communal areas and facilities.
- Optional care or support services – if this is needed
On average, retirement properties can range from £150,000 to £400,000 to buy, or £700 to £1,500 per month to rent. Service charges are usually an additional monthly fee.
A person renting a McCarthy Stone Retirement Living PLUS apartment with eight hours of care support a week will pay on average £18,730 a year.
You may be able to choose a part buy, part rent option so you pay a share of a property and pay rent on the part you don’t own.
How to choose the right retirement home
When choosing a retirement home, look at:
- Location (is it near family, friends, or amenities that you consider important)
- Cost of purchase or rent
- Cost of service charges as this will be an ongoing expense
- Quality of the facilities and communal spaces. Will you use the facilities on offer.
- Community atmosphere and social opportunities
- What support is available if your care needs change?
Find a care home near you
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