What are the arguments in favour for later living rent?
- Post war UK house price inflation has been generous to the baby boomers; many have released equity to support children into home ownership and are willing to re-distribute housing equity to the next generation and cash flow their retirement.
- Divesting equity and a supported decision to move to a later living community at 80 offers an opportunity for lifetime gifts to reduce inheritance tax in return for family members acting as rent guarantors.
- Currently private senior housing is dominated by ‘for sale’ stock, many with exposed ransom exit fees and long re-sale periods.
- Most current schemes are registered providers or local authority “sheltered housing” with limited care provision unable to change their models to meet the discerning Baby Boomers who are used to quality and willing to pay for it.
Rent offers greater flexibility:
- ability to rent or delay the sale of the family home,
- quicker access to services and care,
- Later relocation opportunities without the need to sell.