Moving to new area

Lyncroft

I'm due to come into a bit of money shortly. I'm single and rent in London and have been there for 25 odd years. I'm coming up to 50 and work is quite stressful at the moment.

The amount I'm getting will be fairly substantial but not really enough for London where it's just got silly. Family and friends are in London.

What I was thinking of was moving somewhere where I could buy outright and maybe find part time work.

To get to the point has anybody moved to a completely new area when you're single and getting on a bit!

BitterAndTwisted

50 isn't getting on a bit! Not by a very long chalk indeed.

I can't think of anything better than moving out of London to be rent and mortgage-free and working only part-time. Leaves plenty of gaps in your weekly schedule to join local organisations and get to know the locals.

And I know the precise place I'd want to be moving to, as well.

Lyncroft

Thanks for the reply.

Yes, I guess 50 isn't really that old - I've probably just got a bit set in my ways and can't actually believe I'm almost 50 because I'm not sure (bar the cynicism) I've changed much from 20. I'm not exactly Mr Sociable so would just be a bit concerned I'd drift away but that's something I'd have to tackle.

May I ask where you'd move to?

[Deleted User]

How much of a role do family and friends play in your life? I moved 200 miles away from my family (although it only lasted a year) visiting them once every 3 months for a day and it was great, but then they aren't a big part of my life... You could probably make monthly trips back into London to visit, and perhaps if you have a nice (maybe countryside?) place you could be their go-to for a nice cheap week(end) outside of London.

I guess if you approached it conservatively you need to make use of this money somehow (otherwise it would be eaten away by inflation) so you could consider property as your investment, what you could do is buy a property to live in and then if it turns out not to be for you, you could rent the property out and move back to London and use the rental income to allow you to work part time in London. That way you have both the opportunity to move away from London and the opportunity to move back if you need to and make good use of the money, granted this does mean you'd have to keep rental viability as criteria when purchasing and you would need to make sure that you were happy being a landlord... but it does seem an option.

I would do it.

BitterAndTwisted

Lyncroft wrote: »

May I ask where you'd move to?

Walmer/Kingsdown/Deal in Kent. It's currently only 2 hours from Charing Cross by train, although there's talk of a high-speed link which will most probs push property prices up when it comes about. So, not too far away for visiting London to keep up with friends and family, and of course you'll be inundated with guests in the summer-time.

I have friends who moved down there from London ages ago. I've already picked out my house.....

bouicca21

I'm in a similar sort of boat, only much older.

If I move out of London I could afford a fabulous house. But really scared about creating a new social life. It's easy to meet people if you have young children or belong to a church, far more difficult if you don't. I think I will settle for something less than fabulous in London.

I_have_spoken

I'd suggest the South coast, getting the warmer weather for when the knees and hips start to go home!

Towns like Hastings have a large elder community, so there's loads of 'business luncheon club' events, plus walking, Rotaract, Lions, bowls, Britain in Bloom etc. and you're under two hours to London.

£200k should get a 2-bed bungalow, thinking ahead for when the stairs become a problem.

Lyncroft

Thanks for all the replies - plenty to ponder!

ognum

Can I suggest you decide where you would like to be and then rent for six months. that way you can get the feel of the area, work out how much you miss your family and find out if it is a comfortable move for you.

Just my thoughts!

tBagpuss_2

I would definitely recommend that you consider renting somewhere short term before moving. Have you always lived in London?

Think about what you enjoy doing in your leisure time, what things you most like about where you live now, and what you like least.

Also consider your financial position - how easy is it likely to be for you find part time work, and what kind of income will it provide (bear in mind that wages are likely to be lower outside London)

It may be worth considering moving to (or near) a different large city, where you could potentially find lower prices but retain many of the advantages of city life.

Another possibility might be to consider whether buying in London with a smallish mortgage, going part time in your current job, and considering taking in a lodger/lodgers might also be an option