What Is a Retirement Home?
A retirement home is a house, bungalow or apartment that’s been purpose-built for individuals over 60. These properties are typically part of a wider housing development or neighbourhood of retirees.
Churchill Living Retirement Properties
At Churchill Living, our apartments are built to promote independence and accommodate a low-maintenance lifestyle. All units are 1–2 bedrooms, with a front door, fitted kitchen appliances and modern décor throughout.
Each development has a Lodge Manager, Owners' Lounge, coffee bar and regular social events to foster a thriving community. Churchill Living has apartments available across 38 UK counties, including Greater London, Oxfordshire and The Wirral.
Can I Buy One if I’m Not Retired?
If you’re over 18 and able to meet the financial conditions for a mortgage, you’ll be eligible to buy most retirement properties. However, certain property owners may choose to sell exclusively to retirees regardless.
Anyone can own a Churchill Living apartment. However, only those over 60 and partners aged 55 and above can live in the apartment.
Buying a Retirement Home for a Family Member
If your parents meet the eligibility criteria for the retirement property you’ve chosen, then you can buy it for them. It’s important to think carefully about the retirement home before you invest on their behalf.
Key Considerations When Buying a Retirement Home
Age Restrictions
Find out if age restrictions apply to the buyer or occupants of the home you’re interested in. If you or your parents don’t meet the requirements, it’s best to keep going with your search.
Legalities
When buying for someone else, always consult an expert. If you want to mortgage the property, we recommend consulting a mortgage advisor to discuss your financing options and any challenges you may face.
The Development
Retirement developments tend to be fully managed, with their own rules and guidelines for residents. It’s important to find out if those rules and guidelines complement the way your parents want to live.
Resale
Because there’s a lower demand for retirement homes than the average property, they are a little harder to sell if you no longer need them. Churchill’s in house estate agent, Churchill Sales & Lettings, are experts in the industry and have a database of potential purchasers and renters, meaning they can often secure a buyer quicker than selling on the open market.
Note that you’re responsible for covering service charges and ground rent on a Churchill Living apartment, regardless of whether it’s occupied.
About Churchill Living
Churchill Living is proudly owned by Spencer and Clinton McCarthy. Family values are at the heart of our business and the retirement homes we’ve built across the UK.
We believe retirement is about living independently, with the freedom to enjoy the things you love. Our developments provide quality facilities so that residents can live a low-maintenance lifestyle. Most importantly, we provide security and peace of mind for you and the people who love you most.
Contact us about a retirement home for your loved one, today.