Helping parents to buy a house

csgohan4

If you need a mortgage, lenders often frown on relatives staying

boots_babe

csgohan4 wrote: »

If you need a mortgage, lenders often frown on relatives staying

As already mentioned we won't need a mortgage, my parents' contribution will be from the sale of their property, and ours will be from our own savings.

melanzana

Sounds like quite a complex way of being stair free, and I don't mean to sound offensive either.

Have you explored stair lifts and other aids like that? Would it be easier to add on an accessible bathroom downstairs and convert one of the downstairs rooms to a bedroom?

Let out the upstairs rooms to lodgers, extra income...

Just throwing it out there.

Mojisola

boots_babe wrote: »

Plus they are considering moving closer to us (they're currently 2.5 hours away) as that would not only mean they see more of us but also that from a practical point of view, we are able to be there to help them as they get older and need further support etc.

It's worth them making the move just for this reason.

lottie3000

From a completely unfinancial experience with elderly parents with increasing care needs. There is nothing quite like them being in a bungalow as opposed to a house, the longer they can stay in their own home will add to quality of life greatly. Just make sure all of your financial plans are dotted and crossed and good luck moving them.

boots_babe

melanzana wrote: »

Sounds like quite a complex way of being stair free, and I don't mean to sound offensive either.

Have you explored stair lifts and other aids like that? Would it be easier to add on an accessible bathroom downstairs and convert one of the downstairs rooms to a bedroom?

Let out the upstairs rooms to lodgers, extra income...

Just throwing it out there.

No offense taken :-)

Yes they looked into those options a year or so back. Apart from the fact that it was doubtful whether they would get any money towards it, more importantly when they had an assessor/surveyor type person come to visit the house, it wasn't physically possible to fit one int (they live in a tiny terraced house and there was just no way they could fit something in).


The only downstairs rooms they have are a tiny living room, plus a small galley kitchen. So no rooms spare unfortunately to convert to a bathroom and bedroom. The front door opens directly onto the living room so not even any hall space to play with.

boots_babe

I guess I didn't want to post a massive post for my OP, but now that we're into the detail.


Whilst the primary reason to move is no stairs, the other major benefits of a move are:


- their neighbourhood has never been good, with lots of crime, bad neighbours. But in the 30 years they have lived there, it's gone downhill much further. It used to be that despite the issues, their neighbours knew and respected them, so my parents were kept out of any problems. But that's no longer the case so several times a week things happen that cause stress and upset to my mum and dad. This hugely is impacting upon their quality of life and happiness.


- my mum hardly goes out, because she needs a wheelchair and cannot get this out of the current house as there are several steps to the front door. Again this is something they've looked into, but due to the smallness of the front area of the house and the particular configuration, it's not possible to create a ramp. So the only way my mum can get out is if my dad lifts her electric wheelchair down the stairs, which is extremely difficult. So he of course does this when needed, but it's so hard for him to do that they tend to mostly just stay in unless they have to go out for medical appointments. Plus probably at some sooner rather than later, my dad will no longer be able to physically lift the wheelchair. If they lived somewhere that my mum could just go out of the front door herself in her wheelchair, both of their qualities of life would drastically go up. Much more freedom and independence too.


- already alluded to, but if they are able to move nearer to us, it would be much better from a practical point of view. We want to help them as much as we can, and they're already both in poor health, and realistically this will only continue downhill. If they're within a reasonable commute from our house, we can be there to help and support with whatever they need.


The above is not really required info but just because people are asking about more of the details, I thought I'd post the extra details.

mad_spaniel

Just a thought….round my way, there are retirement complexes which offer level accomodation, lifts, communal warden at competitive prices. Have you considered these as an option? Also have you approached local Housing Association for accommodation? (with lots of medical evidence to boost points/ perceived need? Possibly see Citizens Advice Bureau to see whether, bearing in mind the limitations of the current property, they can suggest anything??

teddysmum

mad_spaniel wrote: »

Just a thought….round my way, there are retirement complexes which offer level accomodation, lifts, communal warden at competitive prices. Have you considered these as an option? Also have you approached local Housing Association for accommodation? (with lots of medical evidence to boost points/ perceived need? Possibly see Citizens Advice Bureau to see whether, bearing in mind the limitations of the current property, they can suggest anything??

My mother-in-law looked into these, when a lovely block was built at the end of her street. She, too lived in a terraced house with low value (due to being old fashioned, rather than size; 3 bedrooms), but worked out that one of the flats would soon use up all her income from the house sale, leaving her to make do just above the benefit line; so no help with rent.

martindow

Thanks for explaining the details. Although your parents are clearly restricted in their current house is it a good idea to move area in their 70s?

They will be nearer to you but will leave all of their friends behind. It can be very isolating starting afresh in a new area particularly if one or both are disabled.