You might think that shared ownership is just for helping people onto the housing ladder for the first time, but there are schemes suitable for all life stages.
Many people approaching retirement do not want the financial commitment of owning their home, or have lived in a larger house for many years and are now considering downsizing. Using shared ownership, it is possible to downsize and free up money to enjoy in your retirement, but still live in a spacious and modern property at an affordable cost.
Shared ownership in retirement living schemes works much the same as traditional shared ownership, with the resident being able to purchase up to 75% of their home. However, once they have purchased 75%, rent is no longer paid on the remaining share.
bpha offers a range of options for those aged over 55, including shared ownership opportunities at Warburton House in Cambridge, Mill View at Hauxton, and Eywood House in St Albans.
Warburton House has been designed to maintain an active community where people can live independently. There are a number of modern, high-quality facilities onsite such as a cinema room, a hair dressing salon and a spacious lounge area . If care needs arise as residents get older, then everything has already been designed to adapt easily, and additional care support is available.
There are extensive outdoor grounds, and the scheme has been designed with a ‘green fingers’ concept – a series of green spaces that make a connection with the countryside and act as viewing corridors to the Gog Magog Hills. This aims to create a peaceful and energising environment, lending the benefits of rural living with a range of modern amenities.
For more information about shared ownership for older people visit the Domovo site