There are many different types of properties available for retirees. With such a vast array of people and a growing market with different desires and needs, finding your ideal retirement home has never been easier. Karakata Real Estate Limited retirement section gives you access to a wide variety of retirement properties and resources to help you in your search. You can search by location, price, developer or property type.Assisted Living Homes
What is a retirement property? Retirement homes can range from those that are completely independent, to homes that are specifically aimed at home buyers that need to have assisted facilities available. Residents for the latter usually need to be over 55 or 60.
Retirement homes with assisted facilities include amenities such as:
Excellent security and fire alarm systems in place so that residents can get immediate help in emergencies, and CCTV is quite common in many purpose built retirement developments as well as 24 hour emergency call facilities
A House Manager or Warden on hand to assist with any queries
Convenient features such as waist high plug sockets and lifts
Individual apartments with ensuite bathrooms and kitchens giving residents complete independence
Communal areas such as a central lounge, waitress service restaurants and garden
Many retirement properties are conveniently located close to the local shops and transport links
Some retirement developments even have guest suites where family and friends can come and stay
Considerations when searching for a new retirement property
Location You might want to consider how far away you want to live from where you are currently living and whether you want to stay near to family and friends. In addition consider if you don’t have your own transport, where the local transport links are and how far it would be for you to get into the local town centre.
You might be considering buying an overseas property – you can visit our overseas section where you will have access to many new international properties available to buy now.
Many specialised retirement properties feature waist high fixtures and fittings, and have extra wide doors to allow for walking frames or wheel chairs. If you have specific needs, it is advisable that you check that the development caters for your requirements.
Safety and Security
Generally, retirement housing is very security conscious. Things you may wish to consider when looking to buy a retirement property whether there is CCTV , an alarm system or perhaps a TV entry system. In addition check whether there are fire detection alarms and a good link to emergency services.
Consider what type of development you would like to live in. You may prefer a home to an apartment, and if an apartment then you might want to think about what floor you would like to be on, and whether there are lifts available and if not what the alternatives are. In terms of your new home, some home builders offer a design and fixtures and fitting service to help you decide on the décor of your home as well as fitting in with your own furniture or to help you choose new.
When looking for a new retirement home, you might want to consider the types of facilities available, such as if you are a keen outdoors person, is there a big communal garden.
Being retired presents many options. You may be considering selling your existing home to buy a more management home, buying an investment property or moving to an overseas property.
Retirement homes can range from those that are completely independent to properties that are for buyers that want assisted facilities. Residents for the latter usually need to be over 55 or 60. If interested in assisted developments.
There are many options open to you that you may want to take advantage of.
With the introduction of Self Invested Personal Pensions (SIPP's) in 2006 there are many reasons why investing in properties can help you fund your retirement other than in the form of a pension.
Karakata real estate ltd has its own investor service. Partnering with companies such as Umsa Group Of Companies Limited ( Property and Multi Business Companies ), British Developments Ltd Bulgarian property estate agency, etc as a first Karakata real estate visitor we offer you the chance to attend free investment property seminars which can show you:
How property could become your best performing asset.
How we can help you build a substantial property investment portfolio by providing you with access to special and exclusive investment property deals.
How we can help you spread your risk through providing opportunities in the UK and overseas investment property.
How we can help you meet your investment objectives through off plan property investment and/or buy-to-let opportunities.
Financial Freedom in Retirement
Retirement is something we all look forward to - an opportunity to do all those things we longed to do whilst we were busy working or bringing up the family.
However, if you are about to retire or are already in retirement, you may be finding it increasingly difficult to fulfil your retirement dreams. The increasing cost of living, council taxes, falling annuity rates or low interest rates could be affecting your savings.
If you are thinking of buying a new home you may be concerned that the costs of the property and the move may not leave enough for you to really enjoy your retirement years in your new home.
Equity release may be the answer. To date, over 100,000 homeowners, have used an equity release plan to safely unlock some of the value in their homes without having to make any monthly repayments whatsoever.
How does it work? Do I qualify?
An equity release plan works by converting part or all of the value (the "equity") of your property into a tax-free cash lump sum. Releasing equity can allow you to enjoy a comfortable retirement, without having to move home. But equity release can also make buying a new property much more affordable as you effectively share the purchase cost with the equity release company.
To qualify, generally, you and your partner must both be over 60 with a property worth over £60,000 and little or no outstanding mortgage.
The main features of equity release are:
No monthly repayments
Stay in your home for as you choose
No negative equity guarantee
There are two main types of equity release plans available; lifetime mortgages and reversion plans.
With a lifetime (or "roll up") mortgage, you take a loan secured against the value of the property. Interest accrues each month and is added to the loan until it comes to be repaid, usually when the home is sold either at your death or if you should move into long term care.
There are no monthly repayments to make as the loan plus accrued interest are repaid from the sales proceeds of the house. However, over many years this accrued interest can build to a significant sum. Although SHIP-approved plans offer a "no negative equity" guarantee, your ability to leave an inheritance cannot be guaranteed.
The main advantage of a lifetime mortgage is that you retain full ownership of your home, meaning you or your estate benefit in full from any increase in its value.
With a reversion plan you sell all or part of your home to a reversion company in exchange for a guaranteed lifetime lease and a tax-free lump sum.
You do not receive the full market value of your share of the property because the reversion company gives you the absolute right to stay in your home rent and interest-free for the rest of your life and it could be many years before the company receives back the money it has invested in your home.
You can move home and the plan will move with you and can usually exchange more of your home at a later date if you want to release more cash. Conditions will apply in both cases.
When your property is sold, usually after your death, your estate and the reversion company will share the proceeds, including any growth in the property value, according to the shares you agreed at the outset.
The main advantages of a reversion plan are that you can guarantee an inheritance and you are likely to be able to release more cash than from a lifetime mortgage.
The importance of independent advice
Equity release has helped thousands of people to a better quality of life in their retirement. But it is an important financial commitment. You need to be absolutely sure of your obligations and commitments before you go ahead. Most importantly, you must be confident that you have made the right choice for your needs. That's why it is important to seek professional, independent advice.
Your adviser should be independent and therefore able to advise on financial products from any company on the market and with a duty to offer you the most suitable and competitive plan for you.
Your adviser should be a specialist in equity release as they will fully understand and be able to explain how the various plans work and will have completed extensive training on equity release