Somewhere to live in retirement

When you retire, you may decide you'd like to change your home to adapt to your new circumstances, needs, and style of living.

Moving to a smaller home

Perhaps you're considering downsizing your home. Many people consider this as an option for a number of reasons, including:

  • Your children have grown up and no longer live at home – you therefore don’t need as much space as you needed in the past
  • A large proportion of your wealth is tied up in your home, and by downsizing you are able to access this money
  • You may find that in a smaller property you pay less for the running costs of your homes (such as bills, council tax and maintenance).


 

Equity release

One alternative to downsizing is equity release. This allows you to borrow money against the value of your home, so that you are able to stay in it, rather than downsize or move elsewhere. Remember - this money must be paid back at a later date, usually when you die. 

 


Retirement communities 

Retirement communities or villages provide you with your own purpose-built, self-contained home with a number of facilities available, such as gardens, communal areas, restaurants and other services.

They are usually large-scale developments with additional leisure facilities such as shops and swimming pools to provide residents with opportunities to socialise and build friendships.

Moving abroad

Perhaps you've considered living abroad when you retire. This brings in new, exciting possibilities to start afresh, absorb a new culture or language, and experience a different climate.

It's important to find out as much as possible about where you'd like to live. Make sure you research housing options, whether you think you could adapt to the language and climate, and whether the lifestyle would be suitable for you.  Before moving, make plenty of enquiries. It's a good idea to spend a few weeks staying in the area to get a feel of what it would be like to live there on a longer-term basis.

 


  

How to make the most out of your retirement

Retirement is the perfect opportunity to discover a new way of living life - with plenty of possibilities for you to thrive, and make the most out of your time.


 

Useful contacts:

Community Partnership for Richmond, Kew, Ham, Petersham,Teddington or The Hamptons
Phone: 020 8831 6464
Web:www.commpartnership.co.uk
Email: advice@commpartnership.co.uk

GoLocal for Sheen, Mortlake, Barnes, Twickenham or Whitton
Phone: 020 8973 1877
Web:www.golocal.org.uk
Email: hello@golocal.org.uk