Scottish Housing Day: Homes for Life – Supporting Housing Needs in Later Life

Changing Housing Needs for an Ageing Population

As people age, their housing needs often change. This can mean simple adaptations like grab rails and stairlifts to make homes more accessible, or more significant decisions such as moving to a smaller, more manageable property closer to family, amenities, or healthcare services. According to Age Scotland’s National Housing Survey 2023:

• 37% of respondents felt their current homes would not be suitable in the next ten years.
• 20% needed adaptations, with over half waiting more than four months for these changes.

These findings highlight the importance of planning ahead and making informed choices about later life living arrangements. However, it’s clear that many people aren’t thinking about their future housing needs until a change becomes urgent, and finding the right information or advice can be challenging.

Rettie: Helping You Plan for Later Life Living

At Rettie, we recognise the importance of forward planning when it comes to later living arrangements. We are committed to supporting with comprehensive advice and services tailored to the evolving needs of our ageing population. Our team understands that planning for later life can be overwhelming, but with the right guidance, it doesn’t have to be.

Selling Your Home to Fund Later Living: Insights from John Wybar, Associate Director, Edinburgh Sales

For many of our clients, selling their home is a practical way to unlock the capital needed to fund later living arrangements, such as care home fees or retirement village costs. John Wybar, Associate Director of our Edinburgh Sales branch, shares his insights:

We understand that selling a property is not just a financial decision but an emotional one too, especially during sensitive times. At Rettie, we handle all aspects of the sale process—from marketing to managing paperwork with solicitors—ensuring our clients have a smooth and stress-free experience.

Letting Your Property: A Flexible Income Option with Rettie

For those who wish to retain ownership of their property while generating a steady income, letting can be a viable option. Karen Turner, our Director of Lettings, elaborates on the benefits:

This option allows homeowners to keep their property as an asset, providing both financial stability and peace of mind. Our team handles all aspects of lettings management, from regulatory compliance to tenant relations, ensuring a hassle-free experience.

Featured Property: Retirement Living in Gullane

For those considering a move to a smaller, more manageable home in a beautiful location, we can highlight one of our current listings, designed for later life - an exceptional retirement property in Gullane. This lovely one-bedroom flat is situated within the exclusive Muirfield Apartments, designed for individuals looking for a comfortable and secure living environment in their later years.

This property is ideal for those looking for a blend of independence and support within a community setting. If you or your loved ones are interested in this beautiful retirement home in Gullane.

Planning Ahead: Exploring Retirement Living Options with Rettie

Early planning is key to ensuring a comfortable and well-supported retirement. Whether you are considering downsizing, moving to a retirement community, or staying in your current home with necessary adaptations, Rettie offers professional property consultancy services designed with later life living in mind. Our collaborative approach helps tailor solutions to meet your specific needs and those of your family.

Unlocking Financial Freedom: Later Life Lending Solutions from Rettie Financial Services

For those not looking to sell or let their property but still seeking financial flexibility, our forthcoming Later Life Lending service will offer an excellent solution. Soon, Rettie Financial Services will provide a range of Later Life Lending products, designed to allow homeowners aged 50 and over to access the equity in their homes without needing to sell or move.

Why Choose Later Life Lending?

Later Life Lending options, such as Lifetime Mortgages and Retirement Interest-Only (RIO) Mortgages, enable homeowners to unlock the value of their property for various purposes, such as home improvements, funding retirement, or supporting family, all while retaining ownership. These flexible financial products provide peace of mind by offering tailored repayment options that suit individual financial situations.

Bob Duncan, Director of Rettie Financial Services commented:

Scottish Housing Day 2024 encourages everyone to think proactively about housing for people in later life. At Rettie, we are here to support you in exploring your options, whether selling, letting, or utilising later life lending solutions. With our expertise and empathetic approach, we aim to help you make informed decisions that provide comfort and security in your retirement years.

Contact us today to discuss how we can help you, or your loved ones, plan for a home that truly supports your needs in later life.

Contact one of our Sales, Lettings or Financial Services branches to discuss your requirements.