A big hit with village people

THE pros and cons of moving to a retirement village or apartments appear to boil down to two things: on the plus side, you'll be living among like-minded people of a similar vintage but on the minus side, there are high service charges and it can be difficult to sell age-restricted flats.

- By Deborah Stone

Retirement living is not just about bricks and mortar, though, it's a lifestyle, so you're buying into 10, 20 or even 30 years of a strong support network of fellow residents who become friends, as well as a dedicated staff.

Facilities can range from just a communal lounge in a block of flats to an estate with extensive gardens and perhaps a wellness spa, bistro, bar, gym, clubs, TV lounges and more.

Some people prefer to downsize to a home with people of all ages living around them but it's worth remembering that neighbours may be anything but like-minded and as most new-build apartments are leasehold they will have service charges too.

These days some freehold new-build housing developments also have estate management fees to cover roads, lighting and grass verges that local councils won't adopt.