Best course of action for 64 year old moving house

dimbo61

My dad sold his house over 10 years ago and moved into an over 55,s development and pays rent every month.
With his savings from the sale of his home and pensions he has enjoyed living in his flat and been on a number of holidays each year.
Get looking at local housing associations websites and put her name down for a one/two bed place.
He still enjoys HIS gardens ( company comes to cut the grass ) but he is busy most days sorting hanging baskets and planting flowers/bushes.
He gets involved with the activities in the complex
It would be up to mum what she wanted to do.

Jimmy_Neutron

I haven't read the whole thread.

Do you work, who will look after your baby when you return?

You could pay your mum a "wage" by paying her half the cost it would be to have a child minder looking after your baby. Also your mum could look at buying a less expensive home as she will be in your house for half the week looking after your baby.

PasturesNew

The only way forward for her to have the security of tenure that owning brings is the shared ownership route, unless she can buy something outright. While it's not for everybody, I'd say it'd be a good fit for her situation.

Buying something outright/small would be good too.

Get a ground floor place with a little garden - there might even be some aimed at older people, as each scheme/area's different.

Go in mortgage free and never have to worry about losing her home or making unaffordable payments to keep it.

I'd have advised her against the park home route - they look nice now, but they have issues, including not easily being adaptable for mobility issues etc later in life.

Whatever she does, she should avoid any mortgage at all.

Beans27

Hi Jimmy yes I will be going back to work, probably January - my mum wants to help with childcare a couple of days a week so I would give her something for that.

Pastures new, the shared ownership one we saw today was lovely and with the monthly rent of £225 a month, she could pay from her pension. Unfortunately was a bit more than she would want to pay - she could stretch to the £80k but would take all her savings as well as profit from her house, so not ideal. The other two bungalows were cheaper - but would need a fair bit of money spent to make them decent. Going to keep looking....yes, she's gone off the park home idea, suppose you are right about them not being very adaptable.

carefullycautious

That's the problems with shared ownership the prices seem to have gone up for the shares and this leaves little if anything left if she needs to maintain things that go wrong.


Also the rents go up each year. I am not sure if she could get housing benefit help on the rental portion? I'm sure someone more knowledgeable will come on with the answer.


There are (non shared ownership) cheaper bungalows about but most need a good chunk spending on them to bring them up to standard. Plus I would not want to be living in a bungalow in a dubious area.


As someone above said she may be better applying for an over 55s flat/bungalow with a housing or local authority.