Inspired Villages has responded to the changing needs of the ‘rightsizer’ and launched properties for rent at its five villages across the country.
Inspired Villages – partners of financial institution Legal & General – has launched a rental option as an alternative to buying at its retirement villages.
Research by the Centre for Ageing Better has shown that 414,000 older people now rent a property, which is up 63 per cent from 2007. Inspired has recognised that with this increasing trend, more rental retirement housing is required to meet current and future demand.
Tenants at Inspired Villages’ properties will also benefit from a fixed-service charge with utilities included.
- Increase in the number of people renting since 2007 63% 63%
“We are proud to offer the option to rent for the very first time,” says James Cobb, Director at Inspired Villages. “We want more people to embrace the lifestyle that is on offer at our villages, with its positive health and wellbeing benefits, and providing a rental option enables more people to enjoy that.
The number of people renting in retirement is on the rise
“The Inspired Villages rental product gives residents predictability in their financial outgoings, with the security of a long-term fixed monthly rental rate – inclusive of service charges,” he adds. “This peace of mind is particularly important in times of political and economic uncertainty.”
The rental option has been introduced at Millbrook Village in Exeter, Devon, Durrants Village in Faygate, West Sussex, Great Alne Park in Great Alne, Warwickshire, Austin Heath in Heathcote, Warwickshire and at Gifford Lea in Tattenhall, Cheshire.
Whether you choose to rent or buy, Inspired aims to ease the stress of running a home. All prospective residents can ‘try before buy’ and experience life at a village before committing to purchase or rent.
“The number of people renting in retirement is on the rise,” adds James. “Predictions suggest that a third of people over 60 could be renting in 2040. For an increasing proportion of this demographic, renting is a lifestyle choice, as opposed to a necessity, enabling them to free up capital to spend on things they enjoy.”
Inspired Villages is also currently offering to pay the stamp duty on homes purchased before 31 March 2019 up to the value of £500,000.
For further information visit: www.inspiredvillages.co.uk