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bigger textExtract from 'Green homes to retirement gems' - Age Exclusive Homes
Knowing what sort of home you want to downsize to is vital and finding out exactly what's available is just as important. Computers are a necessary fixture in most households these days, and so it's worth remembering what a useful tool it can be in your search when you are thinking of moving from a home that is both too large and too expensive to run. In addition, we are living in a time when it's necessary for our homes to be as environmentally friendly as possible and there is now a web site to help you in your search. Here we look at some new properties and alternative ways to access information about them.
Homewise help over 60s to find and afford their next home and discount the cost because of age circumstances. The average discount on the market value of a property is 40%. This discount is used to calculate the cost of the Lifetime Lease, which means retirees never have to pay rent or a mortgage again, but no longer own their homes.
Homewise typically free up 35-45% of the value of a home, which can allow retirees to maintain and improve their lifestyle in retirement, without forcing them to downsize (never an easy process once you have reached retirement age). The discount is calculated against the customer's age and marital status, and the older the customer the greater the discount.
Anne Angel (65) had been looking to move closer to her daughter since her mother had to go into full time care. Having already downsized once to be a full time carer to her mother for many years, she now wanted to start a new life. Ms Angel agreed with her daughter to move home in Kent to a beautiful £180,000 semi-detached cottage in Lancaster. She used Homewise's new Lifetime Lease scheme, which meant she only paid £120,000 for a Lifetime Lease in the property, raising as much as £63,000 to spend on her retirement.
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