The cost of living

missbiggles1

Well_excuse_me. wrote: »

In what way?
We live now on under £20k.
Bills are £6k on a three bed detached.

Maybe you live better than us?

It wasn't the income I was questioning, it was having £100k sitting in the bank as well.

fatbeetle

margaretclare wrote: »

You're planning to retire to a mortgage-free house in Cornwall. OK. There are a couple of other things to think about:

1. Will this house be always suitable for you as time goes on? When you're newly-retired, still fit and able, it's one thing. It's also easier to think what your future needs might be, when you're still active enough to make home improvements yourself, rather than later when you may need to get someone in to do it for you.

Think particularly about; stairs, bathroom, kitchen, garden, ease of use, ease of maintenance.

Sound advice

Our house is a bungalow, it's actually a converted 1890's pig sty! When we move back, (should we choose not to buy another property,) we will have the inside rebuilt to our spec.

margaretclare wrote: »

2. The other thing is: you both have incomes and own pensions. Fine. Just like us. But there may not always be two of you.

Agreed. That will be planned for, even though were both in our 50's at present.

One concern we have s the viability of our cottage, remote on a farm etc., as it necessitates at least one, but preferably both, of us being able to drive.

missbiggles1

fatbeetle wrote: »

Why would you have a reserve that isn't generating some form of interest?

If the interest from this is contributing towards essential income, is it actually in reserve?

fatbeetle

missbiggles1 wrote: »

It wasn't the income I was questioning, it was having £100k sitting in the bank as well.

We will have a fair bit more than that.

fatbeetle

missbiggles1 wrote: »

If the interest from this is contributing towards essential income, is it actually in reserve?

You could argue yes it is, but who said it "had" to be contributing to "essential" income?

missbiggles1

fatbeetle wrote: »

We will have a fair bit more than that.

Well, lucky old you!:D

atush

Ganga wrote: »

20K is unrealistic for us in our current home. Very.

Large, expensive to run. Hope to downsize in future as wont be needing a 5 bed 4 bath home with 3 receptions/acres?

But will you be happy in a smaller house atush,will you get a smaller house that you would like to live in for ever in the area that you live in now and think what you could have done with the money if you had done it sooner!
I know there is more to life than foreign holidays,fast cars etc but you can not take the money with you and can you imagine what it must be like to work all your life to find that at the time you should be enjoying the fruits of your labour something comes allong ( and i hope it does not ) to make you regret it

Yes, i will be quite happy in a 3 bed house. AS i will no longer have 3 boys and a dog to accommodate. i don't need acres. I would be happy to be on a bus route and near enough to walk to something.

And i have no worries at all if I pop it tomorrow. AS I have 3 boys and a spouse to inherit what i leave behind.

margaretclare

fatbeetle wrote: »

Sound advice

Our house is a bungalow, it's actually a converted 1890's pig sty! When we move back, (should we choose not to buy another property,) we will have the inside rebuilt to our spec.





Agreed. That will be planned for, even though were both in our 50's at present.

One concern we have s the viability of our cottage, remote on a farm etc., as it necessitates at least one, but preferably both, of us being able to drive.

Yes, like us. Although we live close to a bus route we don't walk too well, so motor transport is essential.

I know a few women who either never drove or have given it up because 'he always drives'. Again, no one can tell what will happen. My view is: both of you need to drive, as long as you're both fit to do so.

You're both in your 50s. I was widowed in my late 50s, remarried in my 60s. No one can foretell what the future holds. My daughter died aged 39, a friend of hers died recently in his mid-50s. But we are still here, and determined to make the most of the time left to us.

elona

I have downsized from a five bedroom, three bathroom house with a large garden which I could not deal with now I am on my own.
The new property was described as a five bedroomed "house" but it is what I would call a chalet bungalow with three bedrooms and a bathroom upstairs.

The council tax is two bands lower and bills should be cheaper. The upstairs is modern but downstairs will have to be dragged kicking and screaming out of the early eighties. I have had two downstairs bedrooms knocked into one, the stone monstrosity of a fireplace removed from the living room which makes more space and lighting changed.

I have only been here for seven weeks and have plans for a bigger properly fitted modern kitchen and a bathroom with a walk in large shower and modern loo, basin etc.

Eventually I will have the downstairs sorted so it feels like a modern bungalow with space upstairs for the family and privacy.

Having read margaretclare's post I am now thinking of a wet room. I am only in my sixties but want to future proof my home so I am comfortable and dds and sil don't worry about me.

margaretclare

Thanks for this, elona. About wet-rooms, no longer are they seen as 'institutional' and not what you'd want in your own home. We've experienced a lot of them when we go on holiday. Any modern hotel will have one. Two things to think about. A non-slip floor is a must. We've actually experienced a wet-room which looked fine on the face of it, but the floor became very slippery when wet. Also, the shower-head. The water shouldn't go all over the place. Some of them have obviously been installed by people who haven't thought it through. Have a look at this: http://www.mobility-plus.co.uk/

We're having the Richmond version, starts on Monday.