Semi-retirement house move dilema

whitesatin

We have decided to move to be nearer the family now that both of us have semi-retired. I still do a bit of work here and there but can find work anywhere in my line, other half is only 51 so has some life left in him yet, hopefully, regarding finding a bit of work.

Anyway, our house has been on the market for more than four months, we have reduced the price twice and may have to do so again to sell. We have reasonable savings but have always thought that it is best not to touch those just in case of emergencies.

Unfortunately the area we are moving to is, in general, more expensive than where we are now. We currently have a lovely 3 bed Edwardian detached house. We have had lots of time to think about possibilities given that I have to look after my grandchildren two days a week. Even moving 20-25 miles away from where we want to be, we could only afford a detached house if it was a modern, estate house and I would have a journey to make plus we feel that, even with that relatively short journey, friends and family are just as unlikely to visit as they are now when we are down the M25. It is just human nature, no reflection on us.

Anyway, this weekend we have been thinking in a different way from how we have. We are considering buying a house in a lovely area which is really accessible to family and friends and where we could have a great social life, lovely scenery etc. etc. The trouble is that property there is really, really expensive, we are talking of a move to a semi, not that large and, in order to buy it, we would have to use around £40k of our savings as we don't want a mortgage. This would still leave us a similar amount in savings but it is so very different from what we thought we would do.

So, essentially the dilema is, move a good bit away from family and friends but still having to "commute" twice a week by car, to a 3 or 4 bed detached with garage/off street parking, still having our savings should we not settle there and need to find money to move again, or, use half our savings knowing that we might be living in a much smaller house but in a lovely area (Berkhamsted, Herts) and are therefore less likely to move again.

Sorry this is a bit long but I would appreciate your thoughts. How much savings do you need when your pension will more than cover the outgoings?

clutton_2

access to family and friends would come numbers 1 2 and 3 on my list... if you downgraded to a much smaller house - you would not them have the space to enertain too many rowdy grandkids overnight (a mixed blessing) !

whitesatin

The older I get, the more I value family and friends. I think the minimum number of bedrooms we could cope with would be 2 so the occasional over-nighter would be fine. I already see my grandchildren every week when I stay with them to look after them while their mums work so that would not be a problem.

Also, thinking about it, we would be spending a lot more time out and about so the downsizing might not be so bad. Where we are now there is nothing in the local town that would make me want to socialize there. It is ok but not buzzy like Berkhamsted.

Fang_3

whitesatin wrote: »

We have decided to move to be nearer the family now that both of us have semi-retired. I still do a bit of work here and there but can find work anywhere in my line, other half is only 51 so has some life left in him yet, hopefully, regarding finding a bit of work.

Anyway, our house has been on the market for more than four months, we have reduced the price twice and may have to do so again to sell. We have reasonable savings but have always thought that it is best not to touch those just in case of emergencies.

Unfortunately the area we are moving to is, in general, more expensive than where we are now. We currently have a lovely 3 bed Edwardian detached house. We have had lots of time to think about possibilities given that I have to look after my grandchildren two days a week. Even moving 20-25 miles away from where we want to be, we could only afford a detached house if it was a modern, estate house and I would have a journey to make plus we feel that, even with that relatively short journey, friends and family are just as unlikely to visit as they are now when we are down the M25. It is just human nature, no reflection on us.

Anyway, this weekend we have been thinking in a different way from how we have. We are considering buying a house in a lovely area which is really accessible to family and friends and where we could have a great social life, lovely scenery etc. etc. The trouble is that property there is really, really expensive, we are talking of a move to a semi, not that large and, in order to buy it, we would have to use around £40k of our savings as we don't want a mortgage. This would still leave us a similar amount in savings but it is so very different from what we thought we would do.

So, essentially the dilema is, move a good bit away from family and friends but still having to "commute" twice a week by car, to a 3 or 4 bed detached with garage/off street parking, still having our savings should we not settle there and need to find money to move again, or, use half our savings knowing that we might be living in a much smaller house but in a lovely area (Berkhamsted, Herts) and are therefore less likely to move again.

Sorry this is a bit long but I would appreciate your thoughts. How much savings do you need when your pension will more than cover the outgoings?

I suppose that it depends what your budget is and what that can get you. If your pension will more than cover your outgoings, then a smaller property in the better location will be a better bet. Fewer outgoings at home - more holidays.

Fang_3

whitesatin wrote: »

The older I get, the more I value family and friends. I think the minimum number of bedrooms we could cope with would be 2 so the occasional over-nighter would be fine. I already see my grandchildren every week when I stay with them to look after them while their mums work so that would not be a problem.

Also, thinking about it, we would be spending a lot more time out and about so the downsizing might not be so bad. Where we are now there is nothing in the local town that would make me want to socialize there. It is ok but not buzzy like Berkhamsted.

Again - no idea what your budget is, but this is lovely - http://www.rightmove.co.uk/property-for-sale/property-29996543.html

whitesatin

Fang wrote: »

Again - no idea what your budget is, but this is lovely - http://www.rightmove.co.uk/property-for-sale/property-29996543.html

It is nice, thanks but probably a bit above our budget if we don't want to use all our savings. Northchurch is nice though and we are including it in our search.

Trix2

We are coming up to having the same problem, though no grandkids, and we do wonder whether to move nearer to our other family members. Unfortunately though - we don't really like where they live, and do like where we live. And we just can't make up our minds.... a bit like you.

Given that you do want to see your grandkids more, and you like the area, it seems like taking the plunge might be a good idea. One day you might be glad your house is smaller and not so much to do!