Is Over-55 Housing Right for You?

What Is Over-55 Housing?

Also known as retirement housing or sheltered housing, over-55 housing is designed for people aged 55 and over who want to live independently—often with a bit of extra support available if needed.

You’ll usually find these properties in purpose-built developments, with features like:

• Communal gardens and lounges
• On-site staff or a scheme manager
• 24-hour emergency alarm systems
• Social events and community activities

Properties range from compact flats and apartments to larger bungalows, depending on your preferences and budget. Most are leasehold, meaning you’ll pay ground rent and service charges to cover maintenance and communal facilities.

The Pros and Cons

Over-55 housing can offer a low-maintenance lifestyle in a secure, like-minded community—but it’s not for everyone.

Potential Benefits:

• Smaller homes that are easier to maintain
• Many blocks have lifts or offer stair-free living
• Emergency call systems for peace of mind
• Some schemes offer additional care or support services
• A strong sense of community, with shared spaces and activities

Things to Be Aware Of:

• These properties usually offer less support than assisted living
• Can be more expensive than standard homes in the same area
• Most are leasehold, with ground rent and service charges on top of the purchase price

Buying Over-55 Housing

If you’re thinking about buying, most over-55 homes are sold by private developers. Some of the major names include:

• McCarthy Stone
• Audley Retirement Villages
• Anchor
• Retirement Villages Group

For local listings, check out the Elderly Accommodation Counsel (EAC) or search major property sites like Rightmove. Local estate agents can also be a helpful starting point.

Want an example? At St Elphin’s Park in the Derbyshire Dales (Audley Retirement Villages), you’ll find homes ranging from £295,000 for a one-bedroom apartment to £499,950 for a three-bed cottage. Expect to pay around £500 per year in ground rent, plus £730.37 in monthly service charges. Communal features include a restaurant, bistro bar, health centre, and gym.

Renting Over-55 Housing

Prefer to rent? There are two main routes:

• Private Rentals:
  Property websites like Rightmove list retirement homes across the UK. For example, in Bristol, you might find one-bed apartments ranging from £1,250 to over £2,000 per month depending on the level of luxury and location.
• Housing Associations:
  If you’re on a low income, you may qualify for a retirement rental through a local council or housing association. These often have waiting lists, but priority is given based on need. You can find your local council on the government’s official website.

Can You Use Equity Release on Over-55 Housing?

Yes—depending on the property, equity release may be an option. If you already own a retirement home, you could unlock some of its value to boost your retirement income. Alternatively, you may be able to use equity release to help buy a more expensive over-55 property.

The key is checking that the property meets the lender’s criteria. Not all over-55 homes will qualify, especially leasehold properties with high service charges. Speak to a qualified equity release adviser before making any decisions.

Thinking About the Move?

Over-55 housing isn’t just about downsizing—it’s about finding a place that works for your lifestyle, both now and in the years to come. Take your time, compare options, and consider whether buying, renting, or using equity release could help you make the right move.