Assisted living retirement homes

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  • Assisted living retirement homes
  • poolman
    Member

    Anyone got any experiences good or bad, i have just been to visit one for an elderly relative. We did not go via the sales office but had a friend who bought one so got the insiders view.

    However, i cannot see what they actually resell for on nethouseprices, i suspect a deep discount.

    Any experiences appreciated, thanks in advance, the type where you have a restaurant, laundry etc on site,

    b r
    Member

    My FIL lived in one, rented though not bought.

    Worked for him – own front door etc but a restaurant onsite plus care available.

    qwerty
    Member

    Try and find out how “social” it actually is, ie: do residents actually get out of their flat to interact with others in the coffee shop/cafe/day trips/etc. Nowt worse than 100 pensioners all in solitary next door to each other.

    jambalaya
    Member

    Resale is the major issue. As far as I am aware they do not rise in line with normal house prices. You should also look into other costs which of course are not fixed, whatever you are told now may not apply in the future. That being said such developments are very popular in the US. I could see how renting one may make better sense.

    The one my gran is in moves in line (or above) of local prices. When she sells 40% of the increase in price will go back to the care home…

    Sounds like a lot but according to the people around the place it seemed normal for that type of set up..

    these people. After seeing the prices I think my future is dead in a box…

    poolman
    Member

    Thanks, much appreciated. Renting to start with is a good idea, social activities and participation are good ideas.

    Is the 40% retention of price increase hard coded in the lease? I suspect a few clauses favour the provider.

    Cheers

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