RETIREMENT
Move On Up WHETHER LOOKING TO DOWNSIZE OR SEEKING QUALITY CARE FOR A LOVED ONE, HERE’S YOUR GUIDE TO PROPERTY TRENDS FOR THOSE LATER IN LIFE RETIREMENT LIVING
WORDS BY MIRIAM BALANESCU
Many in, or approaching, their sixties choose to move to feel a greater sense of community, especially in more rural areas. In Cambridgeshire, there are pockets of property occupied predominantly by over 55s. Retirement villages are taking off for this very reason. “Retirement villages have become more popular as residents seek new ways of living,” says Paul Murfin at Mill View. “They want to balance independent living in their own self-contained apartment, while at the same time enjoying the company of other residents.” With its prime location in Hauxton, many of Mill View’s apartments are already occupied. “The challenge with new developments is that they tend to be in rural locations where there’s land to build them, rather than the city centre. Some older retirement developments are over-popular,” explains Andrew. “Buyers are also looking for new-builds, because they’re typically more sustainable than older ones.” Almshouses, on the other hand, have been running for aeons – long offering a sense of community, while also
fter younger members of a family fledge the nest, and convenience and comfort become one’s first
concern, most look at properties better suited to their needs. Though, in 2021, two in three said they would consider downsizing upon retirement, many wind up staying put. Navigating an ever-changing market can be mystifying. New forms of housing are springing up across the county. Retirement villages are relatively recent arrivals, but their glamorous, purpose-built apartments are already being snapped up all around Cambridgeshire. “There’s a lack of supply and huge demand,” says Andrew Tucker, partner in residential sales at Bidwells. “When there’s a shortage of stock, prices tend to rise. We’re not seeing the impact of the rising cost of living.” There are, however, options to suit all budgets and needs. From homeshares to care homes, what properties for the over 55s have in common is ease and access. “One of the key things is being close to public transport and local amenities,” says Andrew. “A number of people that I’ve
recently been trying to source properties for need to be sure that shops are within walking distance. People are also trying to find accommodation on one level – a bungalow or reasonably spacious apartments with concierge facilities. Lifts are imperative. Most quite like to have parking for guests.” VILLAGE PEOPLE Retirement villages are a perfect blend of independence and community. They also have all the amenities you might need, right on your doorstep
CAMBSEDITION.CO.UK JULY 2022 73
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