Three questions to ask before you buy retirement property
Know what to ask about and to look out for when you are looking at investing in a retirement estate.
Investing in your retirement property is a major step and should not be done without thorough research. Take a look at these three factors, put together by Renishaw Property Developments, to help you make this big decision without regrets later on.
What does the levy include?
Levies can differ drastically from place to place, so make sure to check the cost of levies and what it will include and compare this against levies of nearby properties to ensure you are getting a good deal. A good retirement property’s levies should include: security, healthcare, fibre optic Wi-Fi, building insurance, maintenance, use of communal facilities as well as various services such as garden refuse, postal and transport. Ask about the chances of a special levy which could be needed for upgrades or repairs.
Is there home-based care?
One of the most important components of retirement estates is their healthcare offering. The trend has shifted from frail care centres to home-based healthcare, allowing residents to enjoy the benefits of healthcare from the comfort of their home. This can range from regular check-ups to more intensive care when you are ill or specialist assistance during rehabilitation.
What are the fitness options?
A study by the Human Performance Laboratory at Ball State University, published in the Journal of Applied Physiology, analysed people over the age of 70 who exercised regularly for years. The scientists discovered that the participants’ hearts, lungs, and muscles were in equivalent shape to those of people in their 40s. Continued exercise in your senior years is crucial for a healthy lifestyle, so look out for facilities such as swimming pools or nature trails.
