A recent report from Yorkshire Building Society[i] found that more than 60% of over-55s who own their homes would be open to downsizing in the next two years. But many say they are put off by the cost of moving, lack of suitable homes, and not knowing where to start. Two-thirds admitted they didn’t fully understand the downsizing process, and nearly half cited a lack of available properties as the biggest barrier.
Joanne Couch, Director of Finance & Operations at FMy Future Living, says the solution is already available, it just hasn’t been widely talked about.
“We speak to many older homeowners who are ready to downsize but they feel stuck. They don’t want to buy again, or deal with the stress of maintaining a large home. Renting in a retirement community offers a simpler, more flexible way to live and it’s an option that deserves more attention.”
Renting in retirement can help homeowners unlock capital tied up in their property, live without the burden of upkeep or unexpected maintenance costs, and still enjoy security through long-term assured tenancies. Residents benefit from living in purpose-built homes within a friendly community, without the responsibilities of home ownership.
Joanne says the benefits are often overlooked, but they’re exactly what many people are searching for:
- No stamp duty to pay
- Capital freed up from the sale of a property
- Fewer maintenance or repair costs
- Long-term, secure tenancies
- Friendly, age-exclusive communities
- Hands-on support through the moving process
Robin and Valerie Greenfield, a couple in their sixties, made the move to a one-bedroom ground-floor apartment at Waverley House in New Milton, Hampshire and say it’s the perfect fit for this stage of their lives.
Val, who works full time in a dementia care home, says the apartment is cosy but spacious, and offers all the storage they need, even after downsizing from a two-bedroom property. She affectionately refers to one hallway cupboard as “a TARDIS.”
She says, “We were really clear that we wanted a home where we could grow older comfortably, without becoming a burden to our children and this ticks all the boxes.”
Robin, an actor who enjoys film work and murder mystery performances, says they were drawn to the flat’s easy access, outdoor space and the supportive community atmosphere. Since moving in, they’ve found peace of mind, more time to enjoy their hobbies, without any homeownership headaches.
“The whole move was straightforward,” says Robin. “Before we arrived, the flat was redecorated, the carpets were replaced, and even a leaking tap was sorted. My Future Living made everything smooth and stress-free.”
Having been married for nearly 40 years, Robin and Val say they’ve now found the perfect place to enjoy the next chapter together.
Joanne Couch believes more homeowners could benefit if the message about renting in retirement reached a wider audience.
“This is about helping people take control of how and where they live. Renting offers flexibility, security, and simplicity — especially for those ready to downsize but unsure of their next step. We want to show that this route is not only viable, but life-enhancing.”
My Future Living is currently offering a two year rent freeze on selected properties – find out more here - https://myfutureliving.co.uk/rent-freeze/
My Future Living has also created a free downloadable guide that explains what retirement renting involves, how it works, and what people can expect when making the move.
