In June 2021, the Government launched the First Homes Initiative which mainly focuses on housing affordability for young people. The Initiative is to support first time buyers to buy a home for 30% to 50% less than its market value subject to some eligibility conditions – which is a very beneficial approach to assist some younger people to climb up the property ladder. However, with the diverse and evolving housing needs, this approach is not enough to tackle the current housing crisis in the UK and we need a much broader approach other than just focusing on younger people and first-time buyers.
As the UK’s population gets older, later living houses are increasingly in demand. Over the decades, there has been a huge misconception to later living in the public eye which is often linked with negative language and phrases such as old people’s places or nursing homes. It is important to re-educate the public to make positive changes and meet the diverse and evolving housing needs.
So what is later living?
There are significant differences between retirement living, traditional homes, and nursing care.
Continue reading what the Birmingham Solicitors Group has to say at…BSG Bites 11: Old is Gold – The Evolving Housing Needs