Retirement Living: Types, Costs, and Options Explained

How do you know which retirement living community is right for you? There are so many providers. Churchill Retirement Living, McCarthy Stone and Pegasus Retirement Living are just a few of the providers offering accommodation for people over 55.

If you're looking for a comfortable and secure place to live, retirement living could be an option to compare. 

In this article, we’ll explore what retirement living is, the different types of Retirement Living available in the UK, how much it could cost and where to compare the best locations near you.

What is Retirement Living?

Retirement living communities offer a range of housing options, from independent living to assisted living, and provide a range of services and amenities that can be tailored to meet individual needs. 

Retirement living can be found throughout the UK and is often seen as an attractive option for seniors who are looking for a place to live that provides them with security, companionship, and a sense of community.

The standard of retirement living varies between providers so always compare your options carefully and go and see it for yourself before you decide to rent or buy.

Many retirement living homes feature a guest suite which can sometimes be booked by people interested in living at the development. When you compare retirement living on Autumna, select the Book a Visit button on the page of the community you want to see. 

What’s so great about retirement living?

Every provider offers something different but in general, a retirement living home is designed with an older person’s needs in mind. 

Thoughtful features might include:

• Energy-efficient triple-glazed windows
• Non-slip flooring in the shower room and kitchen
• Raised worktops and hip-height ovens
• A 24-hour emergency call system
• The latest safety features built-in
• Fire detection
• Video door entry
• The reassurance of a manager onsite at all times
• Private balconies and patios
• Car parking may be available 

Types of retirement living 

There are several types of retirement living available in the UK, including independent living, assisted living, retirement living plus and luxury retirement villages. 

Independent retirement living  is the most common type of retirement living in the UK. This type of retirement living is designed for seniors who are still active and independent and can offer a range of services and amenities, such as meals, housekeeping, transportation, and social activities.

Assisted living is a type of retirement living that is designed for seniors who need a little extra support and assistance with daily living. Assisted living communities can offer a range of services and amenities that cater to individual needs, such as help with personal care, medication management, and mobility assistance.

Retirement Living PLUS is a product associated with McCarthy Stone. Exclusive to the over 70s, Retirement Living PLUS offers delightfully hassle-free assisted living properties in brilliant locations near you. You’ll find all the benefits of a luxurious retirement living development but with the PLUS of thoughtful assisted living facilities and services* to support you now or in the future.

Some providers also offer luxury retirement living accommodation which may be provided in an idyllic location such as near a forest or by the sea. Additional services may also be included such as home care or an on-site bistro.

How much does it cost to live in a retirement living community?

The cost of retirement living can vary depending on a range of factors, such as the type of housing, the level of care required, and the location of the community. 

In general, retirement living can cost anywhere from £1,500 to £5,000 per month, depending on the level of care required and the type of housing. 

Retirement living flats in London for example, will likely cost far more than retirement properties throughout the rest of the UK.

It's important to note that the costs of retirement living can be affected by additional fees, such as service charges. These charges can be significant, so always check exactly how much the cost could be, when it would be payable and how that could affect your monthly budget. 

Retirement living service charges explained

A service charge (or management fee) is usually charged at an annual rate and covers the cost of upkeep and utility bills for communal areas, the services of a house manager or caretaker, cleaning costs, building maintenance and repairs.

Below are some additional costs that you'll need to keep in mind when considering retirement living. 

Ground rent

First up is ground rent - while you own your building, you'll typically have to pay an annual fee for the land it's built on. This usually amounts to a few hundred pounds per year. However, for properties built since 1st April 2023 ground rent is no longer allowed to be charged.

Contingency fees

These go towards any unforeseen or major costs that may arise - such as repairs or improvements to communal areas. 

Bills

While utility bills like gas, electricity, and water are typically covered in a nursing or residential care home, you'll still be responsible for paying these bills in a retirement living setting. You'll also need to factor in additional expenses like TV licenses, broadband, and car upkeep.

Don't forget about council tax either - the amount you owe each month will depend on where you live in the UK and the value of your property. You can check your council tax band for England and Wales on GOV.UK. 

Contents insurance

While building insurance is typically included in the management/service fee, it's still a good idea to consider contents insurance to protect your belongings against theft and damage. 

Care costs

Finally, it's important to note that while some retirement living homes include an hour of home care a week, many others don’t. If you require support from a home care expert, you’ll usually be charged. 

Services can range from domestic help, support with mobility, getting to and from appointments and administering medication. 

Care for specific conditions such as diabetes may also be sought in your area and received in a retirement living home.

Make sure to research if care services are available and how much they may cost as again this can vary heavily depending on where you are in the UK. 

Deferred management fees

These can range from 10% to 30% of the purchase price and are payable if you decide to move out. It's important to factor these costs into your long-term financial planning.

Buying versus renting a retirement property

Renting a retirement living apartment may be a cheaper alternative to buying a brand new retirement home but it’s still important to compare the rental costs with typical rental costs for sheltered accommodation. 

That said, while sheltered housing may be more affordable, it may not include as many thoughtful features like an on-site guest suite for your friends and family, a shared maintained garden or a communal lounge. 

Compare all the costs associated with buying or renting a retirement living home and then think about how you feel about each option. Consider the local amenities and how close you want to be to your friends and family.

Find a retirement living flat to rent

You can search for retirement living rentals on Autumna but if you’d rather have a quick list of options in your area, call us or request a shortlist. 

It’s a fast and free way to see a list of retirement living accommodation options near you. 

Why choose retirement living?

Retirement living can provide security, companionship, and a sense of community. Socialising is a big aspect of life at a retirement living development but balance comes with a private apartment that is all your own. 

Ultimately, deciding to downsize to a retirement living home is your choice. 

• Consider your care needs now and whether they’re likely to change in the future
• Think about your budget and the quality of retirement you want

Compare retirement living in your local area

Autumna is the place to go to compare retirement living options. 

Whether you're looking for Adlington retirement living, McCarthy & Stone retirement living, or Pegasus retirement living, Autumna can help you find the right community to meet your needs and lifestyle requirements. 

Autumna also offers impartial advice about funding and planning care. If you’re unsure how you’ll pay for your retirement living costs and you’re wondering if you could qualify for any financial help, ask Autumna.

Our experts can help you find the right community at the right price. Browse Autumna's website to learn more about retirement living options near you or request a shortlist of retirement living options to be sent to your inbox. 

People also ask

Can I bring my pet with me into a retirement living home?

Many retirement communities allow pets to move in too and often, the site features a maintained garden and apartments with balconies. While fantastic for cats and dogs, shared gardens and patios are also a perfect place for socialising in summer. 

If you are bringing a well-behaved dog or cat with you, it’s best to keep them on a lead until you know whether your pet gets on with the other pets that live at the same development. Every retirement living home is different so always check the rules around pets before you agree to move in. 

You can read our guide on searching for retirement living properties that accept pets here. In it, you’ll find information about how to use the Autumna search portal to filter for retirement living villages that welcome pets.