Where people are flocking to retire in style

Richmond Villages in Northampton has an on-site coffee shop, restaurant, hair salon, library, craft studio and award-winning gardens, and residents can make the most of a daily activities programme run by a dedicated team.

You can opt to buy or rent. The cheapest property available, a one-bedroom first-floor flat, costs £165,000, while a two-bed, two-bath apartment costs up to £395,000. You can rent from about £1,000 a month, but there are no rental properties currently available.

On the private market, nearby two-bed flats cost between £140,000 and £210,000 to buy.

What’s more, there are extra costs to think about. Part of Bupa, the company charges a purchase or sale fee (you can choose when you pay this – either when you buy, or when you sell). At purchase, the fee is 10pc of your property’s value, so a £250,000 property purchase would actually cost you £275,000. 

If you pay the fee when you sell, the cost depends on how long you have owned the property: less than a year costs 6pc, less than two years costs 8pc and over two years costs 10pc. The fee cost is calculated on the sale price.

Ground rent costs about £300 a year, and the service charge – which covers the general maintenance of the village and its facilities, buildings insurance and emergency call-outs – costs nearly £7,000 a year.

You can opt for extra help, too. For an additional £580 to £640 a week (depending on the size of your property), you can buy Richmond’s “Lifestyle Package”, which pays for your housekeeping, utility bills, laundry and meals.

Pros: average initial purchase price, large range of facilities and activities, and tailored care packages on offer.

Cons: expensive ongoing costs, extra fees at purchase or sale, no gym or pool.

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