tip-finance-legalFinancial decisions we make with a view to retirement are some of the most important, especially when changes in the economic climate may have long-term personal and financial consequences. Planning for the future may feel something of a burden to face up to, however addressing your financial prospects early makes for a more organised future and could help you to plan for some more exciting activities to look forward to.

Most of us see moving house as a complete drain on resources, physically, emotionally and financially. House moves, particularly for the over 50s, are a purposeful choice and create a deliberate benefit, which certainly can outweigh these issues.

There are multiple reasons to plan a move later in life, downsizing to enjoy less of the upkeep a larger property requires, get closer to family, benefit from being nearer to a community or to release equity and enjoy other pursuits. The ideal solution, found by more people today looking to secure independent living in an environment that offers security and luxury surroundings, is to buy a property in a retirement village.

If you are thinking about the options and the idea of a retirement village appeals set out what you want to achieve.

Clear objectives make a big difference to the final decision. What exactly do you hope to gain from moving house and why? A more relaxing lifestyle is an answer that is certainly voiced by those already enjoying the experience. The knowledge that your financial matters are managed and expectations are clearly detailed makes a big difference. Remember, it’s not just you to consider. Families now see this type of forward planning as a positive measure.  Ensuring loved ones are enjoying their retirement in a safe and secure environment lifts the pressure from everyone.

Look at the options, there are probably more than you would think. You will also find specialists to turn to for advice and guide you through the process. If you are visiting villages ask the residents about their experiences, they are often the best to help you understand the phrase, ‘I wish I had made this move years ago’. Something you will become accustomed to hearing.

If you are looking at retirement villages here are a few things to keep in mind:

  • Check the retirement development leases
  • Ask for a detailed breakdown on the service charges
  • Are there any exit fees? At Lincombe Manor there are no fees
  • Does the development allow letting in case you wanted to consider renting in the future?

Whether considerations on financial decisions for retirement have been made or are being revisited our Top Tips may help. You can download by following the link below.

Download Our Top Tips Guide