A pensioner has revealed his state pension covers his costs after ditching his mortgage in favour of flexible renting.
The move has allowed him to avoid maintenance, keep monthly spending predictable and retain the freedom to move with just one month’s notice.
As the UK State Pension age begins its scheduled increase from 66 to 67 between April 2026 and March 2028, growing numbers of people face the prospect of extended working lives.
This shift could prompt more adults still in employment to explore retirement living communities earlier than they might have anticipated.
According to My Future Living, the country's leading retirement rental provider, many people remain unaware that age-exclusive developments welcome residents who have not yet stopped working.
Joanne Couch, Director of Finance and Operations at My Future Living, explains: "Many residents move into retirement apartments to ease the transition into later life.
Steve Hudson ditches his mortgage for a 'flexible alternative' in retirement
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"Designed for those over 55, these properties offer a flexible alternative to renting or downsizing, freeing up capital and removing the burden of maintenance, giving people the confidence and freedom to enjoy later life in comfort and security."
Renting within a retirement community offers considerable financial predictability, particularly when compared with the unpredictable costs of city living.
Steve Hudson, a resident at Rose Court in Littlehampton, has found this clarity essential.
"My state pension essentially covers my rent. I also have a private pension, and I still do some part-time work. I live simply, with no car, no flashy lifestyle, and I know exactly what's going out each month. With no unexpected maintenance bills and the security of an assured tenancy, he feels in control. There are no nasty surprises. Plus I can stay as long as I want," he says
The arrangement also provides remarkable flexibility, with tenants able to leave with just one month's notice should circumstances change.
Mr Hudson contrasts his current situation with his previous experience in the capital. "In London, rent and bills can keep going up and up. Here, I can live within my means. I know exactly what's going out every month," he explains.
This financial stability has given him greater control over his life than he previously experienced.
Mr Hudson spent decades working in the specialist carpet trade, where he restored and fitted premium pieces for high-end properties across the globe. As he grew older, he decided a change was necessary.
"I'd worked all my life and as I was getting older, I had a bright idea, I didn't want to stay in London. I wanted to be by the sea," he recalls.
His search led him to Rose Court, a development comprising 29 retirement apartments in the West Sussex coastal town. Now in his late sixties, he has called the property home for five years.
LATEST DEVELOPMENT:
Mr Hudson didn't want a mortgage or the responsibility of maintaining a home at this stage
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"It just felt right," he says of his initial impression.
The decision to rent rather than purchase was deliberate. "I didn't want a mortgage or the responsibility of maintaining a home at this stage. Renting just made sense. I can give a month's notice if I ever want to move. It gives me flexibility," Mr Hudson explains.
Mr Hudson maintains an active lifestyle that extends well beyond his apartment. He volunteers as shore crew for the RNLI lifeboat station, located just minutes from where he lives.
"I've worked all my life and wanted to do something worthwhile. It's a real team effort with about 50 of us helping save lives. It's a great social thing too. You're part of something important," he says.
Mr Hudson volunteers as shore crew for the RNLI lifeboat station
|MYFUTURELIVING
Sailing also features prominently in his routine, alongside regular walks and friendships he has cultivated.
Yet maintaining personal space remains paramount. "I've got friends, I walk, I sail. I say hello to people here, but there's no pressure to socialise and that balance is important," he notes.
His views on retirement communities have evolved considerably since moving.
"When you're younger, you might think there's a stigma. But this isn't like that. It's secure, well kept, and you've got your own space and independence," Mr Hudson reflects.