Your home and later life

If your needs or those of a loved one change over time, we can help to sensitively decipher the options available to find a new home that is more suitable.

There are lots of considerations and our team has compiled a list of a few options to help get you started. We are on hand to discuss your individual needs and help you work through any legalities your choices may involve.

Down-sizing

It can be hard to leave a home you love, but sometimes the financial implications of keeping on a larger property than you need, or one which you can no longer fully enjoy, can mean it is necessary to move on.

Down-sizing can reduce costs and increase quality of life. Bungalows are often popular as single storey living can make life easier. Apartments are another great choice as they often benefit from landlord managed maintenance of both the building and grounds (subject to a contribution from the flat owners).

Specialist accommodation for the over 55s

There are a multitude of providers devoted to specialist accommodation for the over 55s. They range from boutique developments of just a few apartments to entire retirement villages. Many offer a range of additional services such as a live-in site manager, communal social facilities as well as libraries, gyms and swimming pools.

Multi-generational living

Making a family home work for multi-generational living can be another excellent option for reducing costs and making sure care needs are met in a relaxed way. We do recommend however, that the relevant financial and legal requirements are worked through carefully. This kind of attention to detail will assist in the event of death, divorce or financial complications and should play a role in carefully thought-out estate planning.

Home equity release plans

Home Equity Release Plans have had some bad press, but those currently run by SHIP (Safe Home Income Plans) members who subscribe to codes of conduct can help you release much-needed capital without the drawbacks of previous schemes. We have experience of all types of home equity release plans and can put you in contact with specialist financial advisers who will make sure that the product is the right one for you. We’ll also help you understand the legal implications.

Residential care homes

If you or a family member choose or require residential or nursing care, we can offer all the support you need to make sure the transition is as simple and hassle-free as possible. From the sale of your existing home to the practicalities of arranging cleaning, sale of items at auction through to the donation of unwanted items, we can help. The Berwins Property Team will join forces with colleagues in Berwins Life to ensure all aspects are closely managed, including liaison with care providers and social services.

Find out more, call 01423 542775 to speak to anyone in the Residential Property team or email Property@berwin.co.uk