Retire! London homeowners

Legacy_user

Why bother working to fund expensive London property when you could just sell up and retire up north or on Wales or northern Ireland, or abroad?

somethingcorporate

I guess the same reason that millionnaires keep working. Once you get a taste for the "good" life (and some people genuinely do love living in london) then they just want to stick with it.

mystic_trev

MatthewAinsworth wrote: »

Why bother working to fund expensive London property when you could just sell up and retire up north or on Wales or northern Ireland, or abroad?

Why bother making pointless threads on this Forum? If you want to make a nuisance of yourself, go and post on DT

System

There is a point - so people enjoy their retirement, so housing is liberated and the market spread more evenly, and jobs are liberated for new applicants

ViolaLass

MatthewAinsworth wrote: »

Why bother working to fund expensive London property when you could just sell up and retire up north or on Wales or northern Ireland, or abroad?

Maybe they don't want to live in north Wales.

It's lovely but if you've been used to the entertainment of London, there isn't much to do.

fred246

"When a man is tired of London, he is tired of life; for there is in London all that life can afford."
Please ignore this stupid thread. London has EVERYTHING. The best houses, the best schools, the best entertainment, the best transport system. Why would anyone want to leave their loved ones? The family, the friends, the sights and sounds of our great capital. All those billionaires can't be wrong. There really is no life north of Watford. Just STAY IN LONDON You know you love it.
Anyway it's a nice sunday afternoon. I've got my cloth cap on and once I've found my whippet I'll go and have a walk round the old mills.

ukcarper

Most people want to be close to their family and friends.

System

I understand the reasons someone may feel attached to a place, it'll be worth it for some but not worth it for all, some of them might feel stuck in a rut and not see that they have options, they may be afraid of making the leap.

You can have a more comfortable property elsewhere, you can have years of early retirement

And potential newcomers have less reason to choose london

fred246

We have got quite a few rooms in the house we never use. We could downsize to a 4 bed detached in a cheaper area and I could retire on the proceeds. Never quite sure why I wouldn't. Going out to work is what I'm used to. Giving it up and trying to live for years with a fixed pot of cash is a bit worrying. However if you had a lot of equity in a London house then yes you could retire and have a much better life in a better property somewhere else.

System

Everyone retires in their own time I think, when ready, there may be annuities or buy to let to provide an income. If I could afford to retire it work but do something different, like stroke cats

System

And it also depends on how frequently people want that night life, it may be possible within a holiday for some