As with any leasehold property, Owners must pay ground rent (unless the lease of the development/apartment you have chosen was granted after 31 March 2023 in line with current legislation) and a service charge, which includes all exterior maintenance, redecoration and upkeep of communal areas (hallways, lifts, stairs, paths, driveways etc).
The retirement home cost includes many things you would have to pay for anyway: heating in your own apartment (on selected developments), water and sewerage charges, buildings insurance and extras like window cleaning and garden maintenance.
It also includes many of the things you would expect to pay extra for: the services of the Lodge Manager, 24 hour Careline Monitoring, the furnishing, heating and cleaning of the Owners' Lounge and more are all included in the retirement home cost.
All Churchill apartments are subject to a 1% contingency fee on sale or sublet of the property. Some Churchill apartments are also subject to a further 1% community event fee on sale which goes towards funding of the communal spaces which are a key feature of retirement communities
Our Service Charges explained...
Many Owners are pleasantly surprised that the service charges for their apartment frequently work out less than what they were paying, in comparable costs, on their previous property. This is backed up by research from the Housing LIN, who found that downsizing from a 3 bedroom house to a 2 bedroom retirement apartment could save an Owner approximately £2,300* per year.
We appreciate everyone’s household costs will differ, and when deciding to purchase a Churchill apartment, your Sales Executive will go through your costs in detail and complete a ‘Savings Calculator’ based on your current property. Ensuring complete transparency and a helping hand throughout the process.
In terms of Churchill retirement home prices, you can visit our Retirement Apartments For Sale page to browse through our different homes and communities.
*Based on ‘Sizing up the Situation’ report (Housing LIN, 2014) and Millstream Service Charge data.