Horizon

Meeting the needs of the down-sizing generation

Meeting the needs of the down-sizing generation the Horizon model offers a pathway to down-sizing, delivering ‘flexible’ homes for the over 55’s enabling them to remain in communities’ people feel part of and committed to. Homes will have access to assistive technology, and the flexibility of design will enable people to remain in their homes if and when their health/mobility declines.

The Horizon shared equity model will allow for owners who may be asset rich but cash poor to plan for their twilight years and raise capital to take care of themselves in older age in a purpose-built environment.

What is Horizon

We are an organisation which levers in institutional investment to deliver high quality ‘later life’ homes in communities’ people feel part of and committed to.

New build
Designated for over 55's
Primarily 2 bedroom bungalows, integrated within a wider scheme which also contains family homes, rather than as part of a retirement village
Access to assistive technology to enable people to remain in their homes
Spacious enough to give the flexibility to have friends and family to stay

Local Context

South Hams

West Devon

National Average

National Context

In the UK the over 65+ population is projected to increase by almost 50% to 17m by 2034

Retirement/down sizing dwellings making up just 2% of UK housing stock

It is estimated that 6m people will be considering downsizing at any given time

The Government is introducing a new statutory duty through the Neighbourhood Planning Bill to produce guidance for local planning authorities on how their local development documents should meet the housing needs of older and disabled people.

Horizon: How does it work?

Fund

Homes funded by institutional investors

Build

Homes built to building regulations and Horizon standards

Open Market

For those who are able to purchase outright

Shared Equity

Purchasers able to buy' a proportion of their home and raise equity to help fund retirement in their older years in a purpose built environment

Rent To Buy

Our 'rent to buy' option would enable purchasers to move straight into their new home and rent it whilst their existing home is marketed

Affordable Rented

For those who do not have a home to sell we would hope wherever possible to offer an affordable rented option

Recycle

Freeing up the existing larger family built homes in the community through the delivery of downsizer shared equity housing

How will it assist LA's & NPG's?

Helps deliver homes which meet the identified needs of an area in line with older persons housing strategies and planning policies.

Assist LAs, parishes and Neighbourhood Planning Groups to identify where there is a housing need, what the need is and how best to meet it.

Fund homes in rural communities which may otherwise not be delivered

Create churn by freeing up existing homes for younger people. In the case of affordable rented homes, they can free up larger affordable homes for priority needs applicants.

Scenario

A couple are in their 60’s, homeowners, fit and active and do not consider themselves in need of sheltered or designated housing. They want a two-bed home width a smaller garden and are also seeking to release equity –something to suit them when they decide to start to slow down.

Problem

Lack of suitable accommodation for sale or rent which would allow them to remain in the area they have always lived, near to their children and the community they are active in. The few properties which would be suitable are now sold at a premium.

Options

A. Staying in their current home or moving out of area.

B. Horizon work alongside their parish council – 20 new homes are being built with a mix of open market, shared equity and affordable rented homes which are designed with the over 55s in mind, alongside some affordable rent to buy homes for younger households.

They are taking the shared equity route which will enable them to buy a home which meets their needs now and in the future, free up some money and still leaves a legacy for their children.

Other Sectors

INTERGENERATIONAL LIVING MEETING - HOUSING NEEDS ACROSS GENERATIONS

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Intergenerational Living- MEETING THE NEEDS OF YOUNG ADULTS WITH LEARNING DISABILITIES

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Affordable rent to buy - Your pathway to home ownership

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Meeting the needs of ‘generation rent’

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AFFORDABLE SELF-BUILD - YOUR PATHWAY TO BUILDING YOUR OWN HOME

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MULTIGENERATIONAL LIVING - BEING MORE CREATIVE WITH OPEN MARKET HOUSING

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SHARED OWNERSHIP EMPLOYMENT UNITS - SUPPORTING THE GROWTH OF YOUR BUSINESS

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Meeting the specialist care/dementia needs of older people

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COMMUNITY OWNED AFFORDABLE HOUSING - DELIVERING HOMES COMMUNITIES NEED

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