Charting a new course

19th February

 Recent research predicts that by the year 2025 approximately 14.3 million people will be aged over 65. Later living communities are rising in popularity in the UK and open the doors to a whole new way of living.

The practice of purchasing later living homes within vibrant communities has long been ingrained in American and Australian cultures. Their sophisticated understanding of evolving needs as individuals age surpasses that of the UK. Such communities have thrived on these continents for over two decades, forming an established way of life. This approach is gradually gaining traction in the UK, with an increasing number of developments focusing on these homes and the accompanying community aspect.

This shift is prompted, in part, by the ongoing ageing of the UK population, necessitating a proactive response to demographic changes. It is imperative to assess how this ageing population impacts both individuals and society as a whole.

Recent research predicts that by the year 2025 – just around the corner – approximately 14.3 million people will be aged over 65. A majority within this age group desire to downsize, driven by reasons such as their family home becoming too large after children move out, increased maintenance challenges, and rising costs.

Another catalyst for the rise in later living is the evolving concept of life beyond 65. The “Third Age” has become commonplace, with many entering this stage of life possessing more time and financial resources than ever before. Additionally, they tend to be healthier, more energetic, and enthusiastic about pursuing interests they previously lacked time for.

The average age for transitioning into later living homes varies widely, ranging from under 70 to over 89. Notably, this average age is decreasing annually. The demographic makeup is roughly evenly split between single residents and couples. Interestingly, many move in from as close as 10 miles away, establishing the community on a foundation of local knowledge and preference.

Importantly, transitioning into later living homes doesn’t mean sacrificing independence, freedom, or homeowner status. Instead, it presents an opportunity to join a community where these aspects are managed, alongside easy maintenance and access to pastoral and health care if needed. Considering the purchase of residences like those available at Riverstone Kensington and Riverstone Fulham could be the next step toward participating in this burgeoning trend.