Silver Savers

Galstonian

If you can get planning permission you may make a great deal more by selling parcels of land and house seperately. I know it is not always possible but depending on your location you could make more from your land than your home.

I would say you should talk to some experts re. property overseas. During initial stages all advice should be free, if not I'd suggest going to someone else (try a few anyway). Remember that management and tax are made more complicated by being abroad and your investment may be subject to other international pressures (like exhange rates and overseas property prices). Okay as a supplement (and a holidayhome too) but probably not as a mainstay.

System

we are both in our fifties any ideas how to get rid of the children

klondyke

Shoot them, it's kinder ;D

Galstonian

Ask them to pay their own way charging them a realistic rent. Charge for electricity, gas, food, council tax etc.. as if you were a commercial venture (make a profit if you like). If they don't get the idea then at least you now have a sufficient income so that you can move somewhere else!

System

I am very pleased to see a Silver Savers board .Being 74 I am not ashamed to be associated with the 'Over 50s'
Like others I switched to SAGA for building and contents insurance,saving £64 a year

mar-tin

Beware

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SAGA offers on insurance and cheaper utility prices can often in my experience be bettered.

AND you dont get all the junk mailining that SAGA just love to send you

System

???

My parents have 30k just in a normal bank account and would like to know the best place for them to put it (other than my account)!

They will need to need for it to be easy access as they are in their late 70's.

Would an ISA be an option?
Thanks Gill

droopsnout

 
Remember that management and tax are made more complicated by being abroad and your investment may be subject to other international pressures (like exhange rates and overseas property prices).  Okay as a supplement (and a holidayhome too) but probably not as a mainstay.

Also watch out for differences in law concerning inheritance if you move abroad.

If it's of any use, our situation is that wife and I are over 50, I'm retired through ill-health, and we sold our house in Lancs to move to France. In our case, we UPsized! But we're existing on about a quarter of the income we had when we were both working in the UK.

Another word of warning: the glut of TV programmes showing people buying abroad make it seem easier than it is; quote ludicrously low prices (average house prices in our part have increased by 40% over two years); and gloss over all sorts of practical problems.

If you're willing to deal with bureaucracy gone mad, speak a foreign language, trust others when legal decisions are based on their advice, see much less of your friends and family, accept that you will suddenly become very popular when it comes to other folks' summer holidays ... etc., etc. ... then you'll do well to move abroad!!

All that said, we love it, and wouldn't move back to the UK unless things were very desperate indeed.

I should add that we live in a remote area. Urban France "enjoys" all the same problems as urban Britain.

System

Age Concern building/contents insurance is cheaper than Saga.

Saga holidays include holiday insurance for those aged 50 or over.

klondyke

We have found RIAS (also for over 50s) to be best buy for travel insurance to cover our particular ailments (suppose we had to admit them, really) ;D