The beautiful village of Tattenhall in Cheshire
Gifford Lea: August 2019
Later living operator Inspired Villages has responded to demand for more retirement homes for rent by making its Cheshire later living community available to renters — as well as homeowners. This new rental option offers over-65s the chance to enjoy all the benefits of life at Inspired's Gifford Lea development in Tattenhall, without being tied into home ownership.
Extending its luxury later living communities to the rental market allows Inspired Villages — a partner of financial institution Legal & General — to provide homes to a broader range of over-65s with different requirements and financial circumstances. Of the individuals and couples who walk through the doors of Inspired's developments around the UK, one in five would prefer to rent than buy.
Meanwhile, research by the Centre for Ageing Better has shown that 414,000 older households now rent a property — up 63% from 254,000 in 2007.* By 2040, a third of over-60s could be living in private rented accommodation, according to the study.
James Cobb, Director of Inspired Villages, said: "We are all about providing great options for our residents in order to suit their individual needs. Rental can be an excellent choice for some, since home ownership isn't for everyone.
"For some people we speak to, they don't have a family to pass their money on to, so rental allows them to unlock their housing wealth to live the most spectacular later life with full financial security. Others may never have been on the housing ladder, but still want to access the lifestyle that our villages offer. And some see this as a great extension of our 'try before you buy' experience — giving them full confidence that the village is the right place for them."
Renting a home at Gifford Lea offers retirees flexibility and choice by removing the financial burden of buying a house and freeing up wealth currently held in a property. It's also an attractive alternative for those who require some care, but aren't in need of a care home.
With the security of a fixed monthly rental rate, inclusive of service charges, Inspired Villages' rental offer gives residents greater certainty and control over their financial outgoings.
James added: "We want more people to embrace the lifestyle that is on offer at our retirement villages — including Gifford Lea — with all of its positive health and wellbeing benefits. Providing a rental option enables more people to choose us, and rental is a great step forward in providing flexible options to allow people to live their best life."
CLICK HERE for more information about the rental option at Gifford Lea.
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