One of the great things about getting older is that you have fewer responsibilities and more options.
Later life allows us the luxury of doing as we please, deep-sea fishing or chilling on the moors, the choice is yours
The kids have grown up and moved out, the mortgage is paid off, you are under no pressure to earn big money to pay off debts or lead a certain lifestyle, and the time is coming when you can make decisions that will make your future more comfortable and rewarding.
The flip side to that is that your health may be failing, you have a limited income with a small pension or no pension at all, your home may be in negative equity, or your investments may not have worked out.
Whichever one of the scenarios above you can relate to, whether to move home or not as we approach retirement is a decision that many people face.
There are plenty of good reasons to move home as we get older:
Reasons to Move Home in Later Life
Moving to a new home or area is invigorating and can give you a new lease of life
Downsizing your home could release equity to fund your retirement
Moving to a smaller rented home will help your pension stretch further
Moving to a retirement complex or sheltered home will make life easier and more pleasant for you.
A smaller home is easier to manage
Smaller homes are cheaper to run
Moving in with family can be rewarding for you all
Moving to a home on one level will make life easier for those with limited mobility
So knowing that moving home can make a lot of sense when we get older, in this week’s home moving blog we will look at all the available housing options in later life.
Housing Options to Consider in Later Life – Retirement Housing Options
There is so much to see, so much to experience. Moving home can open up a whole new world
Here we will look at housing options for the over 55’s in more detail, from retirement homes to living an alternative lifestyle.
As we approach retirement it is a great time to start thinking about how we can make the most of our time, where we want to spend the rest of our lives making wonderful memories, and how our homes will make our retirement more enjoyable.
Retiring Abroad
If you are lucky enough to have the option, moving abroad for your retirement has many benefits.
Homes are generally cheaper to both rent and buy abroad, and often come furnished. Coupled with a lower cost of living your pension usually goes a lot further when you retire abroad.
The often good weather is another great reason to retire overseas.
Waking up every day to blue skies can certainly give you a renewed passion for life, as well as having the obvious health benefits of not living in a damp and cold country.
An often overlooked and very underestimated benefit of living abroad is that many countries have respect for older citizens that is sadly lacking in the UK.
Whilst in many countries they have a predominately older population and are therefore more focused on that part of the community’s needs.
Most countries have good healthcare, good transport links, and good infrastructure which are all important as you get older.
If you are thinking of retiring abroad then it is likely to be to a country you are already familiar with and have visited many times.
Or you may be undecided on where you would like to move to. If that is the case it is best to do as much research as you possibly can.
Many countries will have very specific criteria that you must meet in order to retire to that country, and a visit to the consulate website for that country will advise you of exactly what these are.
Before you start searching for your retirement home make a list of must-haves, nice to have, and things that would be a deal-breaker.
Think about the language, customs and culture, whether you want to live in the mountains, in the countryside, or on the coast.
Investigate the standard of healthcare and the costs involved. How easy it is to access a doctor or hospital, and how easy it is to get hold of any medication that you currently need.
Consider each of the seasons and what weather they bring, often countries that are hot in the summer have cold winters.
And very importantly think if you want to live in an area that has a large expat community. There are both advantages and disadvantages to living where other expats do, and only you can decide if those are the right places for you.
Retiring abroad may sound luxurious or an unattainable dream, but for many, it is a practical decision that allows them a better standard of living because of the lower cost of living, and a higher quality of life.
You can find a whole library of guides and useful information about moving overseas in our home moving blog.
Moving Into a Home Share
Many older people are now finding that home shares are a great way to keep their independence, lower their living expenses, have company, and be able to share their life experiences.
How it works is that someone who has a spare room in their home offers it in exchange for 10 hours a week helping around the home and companionship.
A home sharer does not provide any kind of personal care to the householder.
The scheme costs between £150 and £180 a month for the person seeking accommodation, and between £80 and £140 per month for the householder.
Sometimes the house sharer will also contribute to household bills.
Available in the UK and ROI, you can find people looking to share their home or looking for a room at sites such as www.homeshareuk.org or www.sharemyhome.co.uk
House sharing is not for everyone and if you have never house-shared before there are some things that you should carefully consider first. You may be interested to read The Ultimate Guide to Living in a Shared House.
8 Alternative Housing Options In Later Life
Imagine being able to change the view outside your bedroom window whenever you chose. Canal boat living gives you that option
As mentioned earlier, one of the great things about getting older is that we can take risks and do things that we maybe could not do, or did not have the opportunity to do, when we were younger.
Moving home is a great way to kick start our life again, or for inspiring us to get out there and explore, find new hobbies and challenges, and meet new people.
So whilst we are deciding whether it is time to move home, let’s look at some slightly unusual options we have, also known as alternative housing.
One of the real advantages of alternative living is the fact that they often are far cheaper and greener than living in conventional homes or leading a conventional life. But more than that they will inspire you and give you a new perspective on life.
These days there are many opportunities to live in homes that are a little outside the norm but that can be a wonderful life experience.
#1 Houseboats
The difference between a canal boat and a houseboat is that a houseboat is usually permanently moored as a purpose-built home.
Houseboats are far more spacious than canal boats and can offer some very luxurious accommodation at the fraction of the purchase price of a house in the same area.
The difference between a canal boat and a houseboat is that canal boats were traditionally used for carrying cargo, and are typically a maximum of 70’ in length, which can be converted into homes.
You will need a residential mooring to stay in one place, and not only are these very expensive but are hard to come by.
The great news is that residential moorings are Band A so you will pay the lowest band of council tax.
If you don’t mind moving every couple of weeks then a continuous cruising licence will let you stay on a mooring for a maximum of 14 days.
Living on a canal boat is not cheap, and can be a hard way of life, but the rewards can be enormous.
Tiny homes are a trend that is growing in popularity and can offer you an economical and fun way of living.
You will need to be organised as you will have limited living space, but most tiny homes are built to your spec so you can have a home that suits your way of life perfectly.
Shipping containers are increasingly being used to provide beautiful homes at a fraction of the cost of bricks and mortar homes.
If you have the land to put one of these container homes on, and can get the relevant permissions, then you can have a brand new home that meets all the building regulations from around £47,000.
Camper Van living could be the adventure you are looking for
This option is not specific to camper vans, you can convert any number of vehicles into a home, but the freedom and opportunities this lifestyle offers can be amazing.
Imagine being able to move home whenever you wanted, you could wake up to a new adventure every day. And of course, you are not restricted to just the UK, with a camper van you have the opportunity to wake up in any country you want.
#6 Park Homes
Park homes, or residential mobile homes, can offer a great way of life in a community of older residents with an active social calendar.
Park homes are generally considerably cheaper than a traditional home in the same area and allow many people to release equity from the sale of a house to fund their later years.
In terms of additional costs, there is a pitch fee to pay every month which varies depending upon the location of the park but is around £120 to £200 per month. And when you come to sell the park home the buyer will have to pay a maximum 10% commission to the park.
Externally park homes look pretty much like any bungalow, and inside it is virtually impossible to tell that it is not a brick and mortar building.
Moving into a park home has many advantages: They tend to be in more rural locations, have a close community of residents who are older (most parks state residents must be over 55 years old) and have active social clubs.
You can find out more about life in a park home and search for parks with homes for sale or rent in the UK at www.parkhome.org.uk.
www.ageuk.org.uk has also published a factsheet about park homes that you may also find interesting.
#7 Volunteering
Have fun, meet new people, learn new skills, do something worthwhile – volunteer
Volunteering is a rewarding way to learn new skills, pass on your skills and knowledge, meet new people, and have some great experiences.
Many volunteer schemes are residential, and you could spend many happy years moving between different projects.
Volunteering allows you to choose the duration of the project you want to work on, and even which country you want to volunteer in, so you can get to experience lots of new countries and cultures.
You could volunteer on a project that you are passionate about. or even go outside your comfort zone and learn some new skills whilst helping others.
There are hundreds of volunteering opportunities in both the UK and overseas offering accommodation and food in exchange for work, and with programmes from a few days to a year or more.
An internet search will find you plenty of inspiration but you could try these sites to see just what is available:
If volunteering is something that appeals to you then you may decide to put your things into storage whilst you are away. Discover all the pitfalls to avoid and things to look out for when renting a storage unit in How to Choose a Storage Unit.
#8 Home sitting
Another great way to meet people, see different parts of the country or even the world, and live rent-free is to become a house or pet sitter.
There are many opportunities to make use of the spare time you have when you retire or get older, and doing something new and exciting is a great way to stay healthy, fit, and rejuvenate your passion for life. An alternative home or way of life could be just what you need.
Moving to a Flat or Bungalow in Later Life
Living in a single level home makes life a lot easier for older people who have mobility problems.
Moving to a flat can also reduce your maintenance costs, as well as being cheaper to heat in the winter.
You will of course have neighbours above and/or below you so you may experience some noise. But flats are usually found in towns and cities where all the amenities such as good public transport, doctors, hospitals, cultural events and entertainment that you may need easy access to are.
A bungalow often comes with a good-sized garden, so if you want to take up gardening or have some outside space to enjoy, then this could be a good option for you.
A larger plot of land though does mean that usually, bungalows are more expensive than houses of a similar size.
And as a generalization, bungalows usually attract older residents so tend not to have the social issues that clusters of family homes can experience.
Multigenerational living can be a wonderful experience for the whole family
Recently there has been a surge in the housing market of people looking for larger family homes, mainly with gardens.
This opens up the possibility of multigenerational living as many larger homes will have the opportunity to add an annexe, or to have accommodation in the garden.
Multigenerational homes are the norm in many countries and can greatly enrich the lives of the whole family.
The benefits of multigenerational homes are many including:
Cheaper household bills for all the family
Release of funds from a house sale
You get to pass on your wisdom to the grandkids
The family all get to spend more quality time together
You can all support and help each other
You may be able to help with childcare
Your family can provide care for you should you need it
Being around young people helps keep you feeling young and active
If you currently live in a home that is too large for you to manage, then there could be the possibility that your family move in with you.
Whilst you may need to declutter to make some space available, it means that you can stay in the home that you no doubt love and have created many happy memories in.
Must read: Moving into a Multigenerational Home-All You Need to Know which goes through the pros and cons of living with your family in more detail, practical tips, and some useful contact information for organisations that can help you decide if multigenerational living is right for you.
Moving Into a Retirement Village
What is a retirement village? A retirement village is a complex of homes that offer many social activities within a community of like-minded people.
There is usually the option to buy or rent a home in the village.
Most retirement villages specify that the residents are at least 55-60 years old, although this only applies to one of you if you are a couple.
The social aspect and one of independent living are very important for many people, and most retirement villages offer communal spaces where you can meet up with friends and neighbours, sports facilities, restaurants, theatres, cinema, and many organised social events.
Many also allow you to bring your pets with you and have family and friends come to stay. And because generally, you will own the property, you can decorate it as you wish and bring your own furniture with you.
And although independent living is the predominant focus of most retirement villages, many will also offer care services and domestic services.
There are, of course, downsides to living in a retirement village such as service charges for the upkeep of communal areas, the homes in such villages tend to be more expensive than a similar property on the open market, and the thing to be especially careful of is exit fees.
Exit fees apply when you leave the village and can range from 10% to 30% of the purchase price, so check any contracts very very carefully.
Retirement villages are common in many countries and are becoming more common in the UK. You can easily find a retirement village in your chosen postcode online.
Council or Housing Association Exchanges
If you rent your home from the council or through a housing association, then there could be the option of swapping your home for a smaller one or moving nearer family.
You should contact your local council or housing association for permission to swap and to find out if there are certain rules that you should follow.
There are also numerous not-for-profit websites that will help you connect with people looking to swap a home into your area. www.homeexcahnge.org.uk is one such website.
Moving Into Sheltered Housing
Sheltered housing allows you to live independently, but help is available if you need it
Available through your local council, housing associations, or privately, sheltered housing is for people who usually can live independently but sometimes need help.
Many sheltered homes also offer communal areas and facilities such as gardens, lounges, and social activities.
Sheltered homes will have an emergency alarm system and a warden who will help out in emergency situations, but rarely offer day to day care.
There are often service charges when you live in sheltered housing, so you need to check out exactly what charges apply.
You are responsible for paying normal household bills such as council tax and utility bills.
Sheltered homes often do not allow pets, and are usually only available to those aged 55 and over.
You can find lots of detailed information regarding sheltered housing at www.ageuk.org.uk
If you want to find out more about sheltered housing in your area go to www.gov.uk and enter your postcode.
Moving Into a Care Home
There are two types of care homes: Residential Homes and Nursing Homes.
Residential homes offer accommodation as well as help with daily tasks such as dressing, washing, or taking medicines.
Many residential homes offer social activities within the home, as well as excursions.
Expect to pay about £600 a week to live in a residential care home.
Nursing homes have the additional benefit of having qualified nursing staff on hand and are for people who need more daily help and care.
Expect to pay about £800 a week to live in a nursing home.
You can find residential or nursing homes in your area, and how much they cost, using the Later Life Care tool at www.which.co.uk
You can find out more about Local Authority Adult Social Care Services in your area at www.nhs.uk
Tips for Moving Home in Later Life
Moving home could be the catalyst you need to start some fun new hobbies
Moving home in later life, especially from a home that we have spent many years in, can be a daunting prospect.
When we look around and see all the possessions we have accumulated, we see our friends and neighbours around us, when we recall all the wonderful moments that we have had in our homes, then we could be forgiven for thinking that moving is just not worth the upset and hard work.
But as we approach retirement this should be a time when we get to enjoy and make the most of every single day, and moving home is a great catalyst to help us make our dreams a reality.
We don’t have to sit in a chair by the TV for the rest of our lives, we have so much wisdom and knowledge to pass on, so much experience to share, and so much still left to experience.
So we should not see downsizing our homes or moving in later life as the beginning of the end but as the start of a new adventure.
That said we should not ignore the huge emotional aspect of moving home, there is going to be a lifetime’s memories and possessions to go through and sort out.
Take the time to process your emotions and decide what you are going to do with particularly sentimental items or cherished items that you just will not have the space for. It often helps to have an objective friend to help you sort through these things.
You may want to pass on family heirlooms now or may decide to put things into storage until a later date.
Then there is the packing and moving to think about. Moving home is exhausting both emotionally and physically, so you will need plenty of help to move things.
If you decide to put your things into storage, have furniture to move, or are moving overseas then a good removal company who offers a professional packing service will make things so much easier on moving day.
For small moves when you will not be taking any furniture then you may be able to move with the help of family and friends.
Normally 6 weeks is the amount of time it takes to prepare to move home, but there are two camps of thought when it comes to moving home in later life:
#1 Get everything sorted out, packed and moved out in the shortest time possible. An imminent move date focuses you and you therefore don’t have time to dwell on past memories, or saying long goodbyes.
#2 The second option is that you take as long as possible to go through all your possessions, making a reasoned decision as to whether you keep that item or not. You take the time to deal with your emotions as they arise and take regular breaks from the emotional rollercoaster you will be riding.
Only you know which option suits you best, how you process your emotions and the type of place you are moving to.
Must read: Moving Home in Later Life which is filled with useful advice and moving tips to make your home move as easy as possible.
Good luck with your home move and the next exciting chapter of your life.
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