In recent years, the “build to let” concept has been gaining momentum as a way to provide affordable and sustainable housing to a wide range of people. However, one group that may particularly benefit from this model is the elderly.
Traditionally, options for seniors seeking housing have been limited to staying in their own homes (if available) or moving to a nursing home. However, both of these options have their drawbacks. For many seniors, staying at home becomes more difficult as they age and their health declines. This can lead to feelings of isolation and loneliness, as well as increased risk of accidents and injuries. On the other hand, moving into a care home can be a difficult decision for many older people, as it often involves giving up their independence and privacy.
Enter “build to rent” – a model where developers build and own rental properties, rather than selling them. This model can provide a number of benefits for older people, particularly in terms of flexibility and affordability. One of the main benefits of build to rent for older people is that it allows them to maintain their independence and privacy, while also having access to support and assistance when needed. For example, many build to rent developments include on-site care and support services, such as meals, cleaning, and personal care. This can be especially beneficial for older people who may be struggling to manage their own homes, but are not yet ready for the level of care provided in a traditional care home.
Another benefit of build to rent for older people is that it can be more affordable than other housing options. With traditional home ownership, older people may have to downsize or sell their homes in order to free up funds for retirement. However, with build to rent, they can continue to live in a comfortable and familiar home, without the added financial burden of owning and maintaining it. Additionally, many build to rent developments also offer flexible rental terms, such as short-term leases, which can be especially beneficial for older people who may not want to commit to a long-term tenancy.
Build to rent also provides an alternative to the traditional care home model, which can be beneficial for older people who may have specific needs and requirements. For example, a build to rent development that is specifically designed and marketed towards older people may have features such as wider doorways and corridors, as well as ramps and elevators to make the property more accessible. Additionally, many build to rent developments are located close to public transportation, shops, and other amenities, which can make it easier for older people to stay active and engaged in their communities.
The build to rent model has the potential to provide a range of benefits for older people, including flexibility, affordability, and access to support and assistance. As the population continues to age, it is important to consider alternative housing options that can help seniors maintain their independence and quality of life. Rental buildings can provide a new market between traditional nursing homes and homeowners, and can also be an effective solution for seniors who want to live in comfortable, familiar homes without the additional financial burden of owning and maintaining them.
Kosy Living Limited
12 Hay Hill, London W1J 8NR
020 3992 8898