The cost of post-retirement accommodation can be high, it has been warned.

A spokesperson for elderly people's charity Age Concern advises that both gated communities and traditional retirement villages can be expensive.

However, she notes that for some people either could still be a "good option" - and that each has its own pros and cons.

Elderly people looking to meet the costs of such a retirement scheme could turn to homeowner loans to unlock the equity they have built up in property over their lifetimes.

While security and company are two of the likely benefits to living in such a community, the spokesperson adds that this could lead to a lack of contact with other age groups.

"The cost of living in these villages, including additional service charges, can also mean they are not an affordable option for everyone," she asserts.

"The best retirement villages are probably the ones that offer a variety of ownership and renting options."

Homeowner loans could be the ideal means of providing the funds required to cover the costs of renting.ADNFCR-1287-ID-18377105-ADNFCR

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