convince me this isnt a daft idea

Smodlet

Quizzical_Squirrel wrote: »

I was just reading that, on average, every inch in height over 5ft takes 1.5 years off your lifespan.
Maybe I won't wear high heels tonight!

And I too think renting in these circumstances is a terrible idea.

Have you rented before? I mean, relatively recently?

:rotfl: I suppose statistically wearing high heels increases your chances of breaking your neck... :think: How can some website have a clue how long anyone is going to live? What a box of b0110x! You could be hit by a truck even while wearing flatties.

Pancake1302

I think it would be much more sensible to downsize/move to a cheaper area. You will have the security that renting can't provide. Particularly as it seems you're planning on staying in one property for years to come.

AdrianC

23 years might be 276 months, but I bet your rent will rise by inflation over that time...

If we look at inflation over the past 23 years, £1,000 today was the equivalent of about £528 in 1995. Assume that inflation follows the same path, and your rent today will be the equivalent of about £1,900 in 2041.

I don't want to sound harsh here, but keeping multiple horses sounds like an expensive luxury that you may need to rethink.

lookstraightahead

You!!!8217;re very young to both retire imo.

I would buy somewhere smaller - maybe a nice apartment? Invest some of the leftovers in something else as well, like a small portfolio. You can!!!8217;t take bricks with you and I!!!8217;m all for living life but you!!!8217;re still very young to make your money last by retiring.

NeilCr

Urgh.

I retired at 55. One of the best things I ever did.

Volunteering, use a gym regularly, met my partner etc. Sure you have to plan it - sure you have to keep busy. But. In my case, anyway a damn sight better than slogging my guts out for another ten years

Life is for living. Not thinking about what you might, or might not, do.

DigForVictory

As another doubter this is the sane path forward, have you discussed this (or even shown the thread) to your good lady? Who may have several plans and ideas, which you happen not to know about as you haven't discussed what she wants to do.

May I suggest that you May be headed into rented accom (for the newly divorced bachelor) if you don't discuss this with her, in some detail?

Best of luck.

[Deleted User]

ACG wrote: »

You could do something called equity release in 4 years (when your wife is 55.

That just means you take out a loan secured against your home that only gets repaid when you pass away or go in to a home.

It does not necessarily need to be your current home, you can move to another and downsize if you wish.

I do not do equity release Mortgages personally (although I do know a man who can), but it just means you never need to be worried about being evicted because a landlord wants to sell up or rising rent etc. It might be worth speaking to someone about as an alternative?

This is an idea but my father did it, lives in an upstairs flat with steep stairs and can't even put a chair lift in or make any alterations to the place to enable him to get up and downstairs now he's 82. Its part of his equity release contract, or so he says.

I'd go for selling your place, pay off the mortgage and buy a cheaper place in another part of the country if necessary. But think of what might happen in later years as regards mobility when buying.

Would never consider renting again if I had any other choice at all, for all the reasons stated, no guarantee repairs will be done, no guarantee your LL will be one of the decent ones, no guarantee of staying any longer than your first AST agreement, each time. Not necessarily going to lead to the hassle free life you want.

Beatle_Ray

Thanks everyone, as society child says there is a common answer here, it was an off the cuff thought and moving to a cheaper part of the country makes sense, we are in Hertfordshire and Cambridge is not that far, I did speak to the DW about this and she said that we should stay where we are for another 10 years or maybe a little less, buy a smaller one bedroom property outright, use some of the money we made from selling and buy a camper van and travel round Europe during the warmer months and then southern hemisphere for their warm time of year, we could rent out the house we had during this time, that makes a bit more sense I think,

teddysmum

In Staffordshire, £275000 would buy you a small detached or substantial semi (decent drive and garden if pre 1980 )and there are plenty of horse grazing areas to rent.