Quit everything , and start again over 50?

lessonlearned

AC. Re fascias. Just wait for the survey and take it from there. It may be a total non issue., or, the mortgage lender may insist on a retention. Point is you don't yet know which way they will jump.

One step at a time remember.

Karma - I'll catch up with you on the MFW board

harz99

another_casualty wrote: »

He does like the flat in portarlington road. Bh4 8bx:)I may even go there for a second viewing . ( yes , I know rent first..). It is ready to move into 99%!just a change of carpet. It is a good location for the shops , and it was a bolt out of the blue . Was 50/50'on just going home. I will check their website. Hamiltons

AC, just looked at that on Rightmove, a few random thoughts:


Don't like Hamilton's, very economical with detail, especially any ongoing charges like grounds maintenance.


You did say your not intending to drive, so you will effectively be paying around £10000 for a garage you don't need, that's just dead money.


Flat1 appears to have last changed hands 28-5-2010 for £173,950 at which time it was shown as leasehold, presumably the block tenants have collectively bought the freehold since then?


Question is, is it worth £35,000 more than this one which to me looks nicer, newer and offers similar, maybe better with the ensuite, accommodation, just for the road and the freehold?


http://www.rightmove.co.uk/property-for-sale/property-43813329.html?premiumA=true

another_casualty

Karmakat- just started reading your thread on mfw. Will follow it.
Congratulations on retirement
One of the reasons I've decided for change ( apart from the already mentioned), is that my retirement age has been put back 2 years to 67.
This means I have just over 13 years to go .
The way things are going , all I can see is gloom / blandness / unhappiness in the workplace . ( Ie : if I lost this job , I'd be working harder for less money, probably wearing a horrible uniform . Time/ motion etc).
So, I'm basically trying to avoid that scenario as much as possible.

Looked at some properties on right move, thinking'they look good .'
Then I find that they are for over 55's

Westbourne village . Just wondering about that . Does this mean , it could be hard to integrate? 'He's not from round these parts.' Only had time for the bacon sandwich on Thursday . If it wasn't for the hold ups , I could've had a coffee/ beer to assess things more.

another_casualty

harz99 wrote: »

AC, just looked at that on Rightmove, a few random thoughts:


Don't like Hamilton's, very economical with detail, especially any ongoing charges like grounds maintenance.


You did say your not intending to drive, so you will effectively be paying around £10000 for a garage you don't need, that's just dead money.


Flat1 appears to have last changed hands 28-5-2010 for £173,950 at which time it was shown as leasehold, presumably the block tenants have collectively bought the freehold since then?


Question is, is it worth £35,000 more than this one which to me looks nicer, newer and offers similar, maybe better with the ensuite, accommodation, just for the road and the freehold?


http://www.rightmove.co.uk/property-for-sale/property-43813329.html?premiumA=true

Thanks harz . Again , you are a man of much sense and reason:)
I do like the look of this one . It may be a good idea , to go to Bournemouth as my next visit one day next week and arrange to view this .
Regarding sunning dale : it is lovely and fresh inside . Very new feeling. Spacious .
The property is now share of freehold . Maintenance circa £1400 p a
Sinking fund £100 p a ( £125pm)
It is probate ( person living there died ) 'willing to negotiate', is what I was told

I'll look into Bournemouth now

harz99

AC, how long would you have to rent until you are 55 then?


I know what you mean about those properties as some seem quite decent, maybe you could rent until you open up the over 55s ones?

another_casualty

55 in December 2017:)
One thing about retirement prooeries . Service charges could be astronomical etc. There often seems a stigma attached to those places.
Change of managing agents etc.
I don't really trust them .

lessonlearned

Can you really see yourself in a retirement complex.

I was a manager in one, rented not privately owned. It was owned and ran by a charity. Here's my thoughts,

If you have serious health issues, or very poor mobility, or just getting very frail, then yes maybe. Otherwise you are far too young. 75 maybe but not 55.

Secondly they are absolute b&ggers to resell. Ok if you are dead, then it doesn't matter. However, if you decide it's not for you then you might be stuck with it. Plus a lot of them have exorbitant exit fees, can be as high as ten per cent.

Obviously as we get more frail then there is an upside to communal living and purpose built retirement complexes can fit the bill. I have seen many residents enter our facility as wrecks and then within a couple of months have blossomed.

I am not ruling them out of my long term future but......I will not buy one. I would rent.

lessonlearned

I second harz's choice. Much nicer flat, good modern kitchen, two bathrooms so great when you have visitors, nice gardens. And 35k cheaper.

£35k is three years (very comfortable) living expenses.......:D

another_casualty

Thanks LL . Yeah, I knew those retirement placers are a no no , for the likes of me . Thanks for clarifying . Browsing Bournemouth at the moment .
I dunno , nothing's grasped me yet .althoigh, there are nice studios .
Wouldn't mind buying two . But that would workout too expensive .
No cats to look at . I'm trying to find the best part of Bournemouth , which is close to shops , transport etc. But having difficulty . No surprise there:)

candygirl

AC ! There's one of those over 55 complexes near me, n you wouldn't believe the !!!!!ing, n arguing that goes on with the residents .Think Victor Meldrew n Hyacinth Bouquet in large numbers :rotfl: