Selling the house & renting in retirement ?

sleepymans

Im in a similar position....my first step....downsized to a single storey house in a nice area with low maintenance building and grounds and a fab view.
Second stage will be the equity release (these properties will always be attractive and hold their value)
Use the funds to cross off some bucket list items.......
maybe install some adaptations when mobility decreases......
when appropriate..... get that ticket to Dignitas......

djp64

Also in a similar position. Looked at the renting option but not keen on the current lack of security of tenure.

Seriously considering buying a park home. All one floor so no stairs etc when I get older. There are lots of horror stories but also lots of very positive ones. The law changed a few years ago and strengthened the rights of park home residents.

The particular one I've found has some homes that are over 40 years old and withstanding the test of time. Full residential planning permission exists, no need to move out for part of the year. Band A council tax, pitch fee of £120 a month and then a fixed water charge (less than I pay on a meter at the moment). Active social club, doctor, shop, hairdresser etc. Lots of residents snowbird and no issues with burglaries etc.

Debbie

Spreadsheetman

atush wrote: »

This.

You'd have to be very wealthy to take this approach, and have slinmed down your lifestyle and possessions. As you would in all likelyhood face higher and higher rents, and no security so be forced to move a number of times.

Far better to downsize to a flat, bank the rest of the money.

Quite right. Old people are (generally) very attached to the place they live and having to move frequently when possibly quite frail is a horrible prospect.

Both my parents and my in-laws have hung on too long in unsuitable properties. My wife and I plan to be in a nice small accessible bungalow or flat (with lift) on one level and close to all facilities, services and a fully-equipped hospital by our mid 70s at the latest assuming we are fit and well. If not, then the move will be earlier.

lisyloo

Old people are (generally) very attached to the place they live and having to move frequently when possibly quite frail is a horrible prospect.

This is very true.
It's better to move somewhere before you need all the facilities.
My in-laws moved to a flat where there was a care line (pull cords), a facilities manager, entertainment.
Their bills and cleaning were reduced although there was of course a service charge.
They released some equity, not a massive amount but enough to enjoy a few cruises.
They were 74 but had some mobility issues.

kidmugsy

djp64 wrote: »

Also in a similar position. Looked at the renting option but not keen on the current lack of security of tenure.

Perhaps you could find a landlord who would offer longer security of tenure than the usual?