Demand for retirement homes has started to slow, as a consequence of the slowdown in the mainstream property market, according to Guy Mossop of Fifty5Plus.
Mossop reports that there is generally always demand for retirement homes in spite of mainstream property market conditions, because most people buying retirement homes generally do not need mortgage finance as they tend to have funds to buy a retirement home outright.
Many people often want to release equity from their home or downsize to a smaller property when they get older, as their housing needs often change.
One option is to buy a retirement home. Many retirement properties allow residents to live as independently as they want, with the peace of mind of knowing that care and support is available 24 hours a day, thanks to the assisted living facilities available.