It’s time to wake up to the benefits of renting a property
Finding a practical solution that matches the quality of your retirement living dream may be easier said than done – and renting may not automatically spring to the top of your list of possible solutions.
However, increasing numbers of UK retirees are discovering what their counterparts in America and Australia found out a few years back – that renting your retirement home offers many advantages over continued property ownership.
Even more are discovering how you can continue to benefit from both.Hawthorns Retirement has brought its highly successful American formula for retirement living to the UK at Eastbourne, Clevedon and Braintree.
A flexible lifestyle
These developments, in a nutshell, offer you continued independent living, none of the worries of home ownership and total flexibility to change your lifestyle at a month’s notice should circumstances dictate. And all this is achieved by renting your retirement home at The Hawthorns.
Your monthly rental includes all your many monthly expenses including all your meals and snacks, utility bills, housekeeping, maintenance – even a free minibus to take you to the shops and back. If you sit down and calculate what you are spending on all those items living in your own home, the rental fees appear very reasonable indeed.
As well as the financial argument, life at The Hawthorns offers the added benefits of security, companionship and the flexibility of handing in just one month’s notice of your decision to leave.
While many residents fund this idyllic retirement lifestyle from the proceeds of the sale of their home, many others opt to rent out their own property and fund their new-found lifestyle from the rental income, maintaining their property as part of their estate.
For Alan and Jean Ward, the decision to move to The Hawthorns in Braintree was swift in the extreme. They saw an advert for the development in a paper on a Sunday morning, visited in the afternoon and signed on the dotted line the next day following a second visit.
Their decision to rent out their existing property rather than sell it was almost as quick, as Alan explains.
“Jean has Parkinson’s, I suffer with arthritis and the thought of not having to worry about shopping, cooking and all the other home maintenance chores suddenly sounded so appealing. We loved The Hawthorns the moment we stepped inside so it was an easy as well as swift decision.
“I have to admit my initial thought was to sell our own home, a three-bedroom detached bungalow in Tiptree, but after a chat with our son we realised it made more sense to rent out our bungalow. The rental income from that subsidises our rent at The Hawthorns and enables us to enjoy not only a fabulous but an affordable lifestyle.
“Of course, it makes complete sense at the moment to rent out the bungalow. With the housing market in the doldrums, I can wait two or three years for prices to pick up and then consider selling it and getting much more capital for it – very appealing.
“What’s more, we always know we still have our old home should we ever wish to return to it – which I have to say is highly unlikely, the way we feel about life here,” said Alan.
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