Property Dilemma – What & Where?

Notepad_Phil

We're in our late 50's and we have been and continue to be very lucky in that the house we bought in our thirties has been a great house to live in. Not 100% perfect in all areas but there have always been enough boxes ticked for us to still be here.

However we do realise that at some point, (probably) in the next 10 years, that we'll need to consider moving. So for us it has been quite instructive to have watched some of the multitude of property shows on tv where we have both been shouting at the screen when people a bit older than us have gone for houses that they obviously will have to move out of within just a few years.

Now if someone is really well off then the expense of multiple moves might be okay, but every time they move they have to rebuild the social side of their lives unless they move within the very same area - in which case the question would be why didn't they move there the first time?

So we'll be 'sensible' when we do start looking for our hopefully 'final' home, but we do realise that it could take a long time to find that place.

SMcGill

Completely agree with Malthusian on this. If rural idyll is your dream then do it, even if it’s only for one decade instead two. Why miss out on years of living your ideal retirement just because it may mean a few months of stressful house moving later on?

Terron

I moved to a 3 bed end terrace in a village one the edge of the peak district, much closer to my family. However I have a bungelow too as a BTL property half a mile a way.

p00hsticks

I'm late 50's, recently retired, and OP is mid-60s.

We're in the process of relaocating to where we always said we'd retire to - a coastal town where we've holidayed for many years.

We gave a bit of thought to long term, but it wasn't a deal breaker - if we have to move again in 20 years time, so be it, but who knows what could happen before then ? I'd rather enjoy the time being where we want to be now than make compromises for something that might not happen further down the line.

Only issue is really that - like many harbour towns - it's quite hilly. So our property has a flight of steps both back and front to reach it, which could become a struggle in later life - upside is we have a great view and if I'm going to be housebound anywhere then I'd rather it was somewhere where I could quite happily sit and stare out of the window at the view all day!

But apart from that it's close to shops, and we probably wouldn't need a car - there's a supermarket that delivers close by, and a taxi rank within five minutes walk. Library, dentist and hospital all a few minutes walk away, doctors surgery a bit further. Plenty of social activities with a very vibrant community feel.

The property itself is failry compact and low maintenance, although we've got the bit of garden we always wanted. We'll do any major work (new kitchen, landscaping some of the garden etc) before we get too old and if we end up paying for a gardener to come in so be it - there are lots of holiday homes around so we shouldn;t struggle to find one.


My main niggle is that I have elderly parents hundreds of miles away. Currently they manage fine by themselves, with my brother looking in on them almost daily. But he's got health issues at present which has made me worry about what I'd do if anything happened to him and my parents went downhill too. It's another possible bridge that may need to be crossed at a later date,,,,

Marcon

DairyQueen wrote: »

We are early 60s and the kind of property we would like bears no resemblance to somewhere fit for an 80+-year-old. Ideally, we wouldn’t move again but that would mean foregoing our property dream.

Our hearts hanker for character, rural, neighbours at a distance, a large garden, a view over fields or water. We want the kind of property that will be a maintenance nightmare and car-essential. In summary, a home from which a future move will be almost certain. Or, should we bite the bullet and use our heads? New bungalow? walking distance to services?

Which would you regret more: missing out on what could be at least 15 years in what you see as a dream property, or living that dream while you can but having to give it up at some future point, when the dream would almost certainly become a (maintenance/location) nightmare?

In short, if you don't live your dream now, then when will you? Just accept it's a dream with a finite life span.

tony4147

Funnily enough out of curiosity we decided to look at some newly built retirement homes for over 55's that are being built near to where we live, I'm 56 and my wife 58.
Upshot for me was no chance would I move into one of those until I'm in my 80's, small, no garden, dark, very expensive for what they are...…….and the BIG thing I think I would age quicker in a community of older people.
Whilst I still have my health and faculties I will stay in a 'normal' house and that may be a 2 or 3 bed, we won't need the large 4 bed we have now but will still want a garden to potter about in.

ouraggie

Really interesting thread! Enjoyed reading the range of perspectives.


I am 56, OH is 60. He'd love to move from our 3-bed Victorian semi in E London. I think we should stay here. I cannot help thinking ahead to when we are 80. This house is on a bus route to 2 nearby shopping centres/hospital/tube stations/cinema etc; there's a Coop just round the corner; several decent pubs and restaurants in walking distance; doctors, hair salon and pharmacy are 2 mins walk; taxi firm on the corner; easy to get to Stansted and so on. I point out that the bathroom is downstairs and we have 2 reception rooms so if it ever became necessary we could live and sleep on the ground floor.OH thinks I am morbid even thinking about such things. I think he is being short-sighted.


Another option the OP might consider:
We also have a 2 bed cottage in a old-fashioned, stuck in a small, time-warp, seaside town about 90 mins away, rented out as a holiday let. We've spent more time down there in recent years, esp in winter, so we know the area very well now. The town is very well-provided with the basic services, including an Aldi and M&S. Plenty of social activity going on. There's good transport, including a train station. This gives us another option, that of moving there eventually. Life is slower, friendlier and cheaper there. We could sell the London house and buy a retirement-friendly place down there with £200K left over, living temporarily in the holiday cottage while we look for somewhere. It would be easy to move there permanently if we wish, as we are partly resident already and could take our time to find the ideal forever property.
Just need to convince OH now!

crv1963

Another one with Malthusian here!

We're (well me) mid-50s, we live in a bungalow but to reach it you have to climb 17 steps. We're adding a loft conversion as we prepare for retirement as a hobby room even if the plans label it as "Bedroom 3". Since moving here I still find it odd not to "go upstairs to bed!".

My mother age 80- nearly 81 spoke with her GP and he told her not to move from her home when she muted about moving to a bungalow, he told her stairs are perfect for keeping fit, and gardening in her large garden works muscles better than her two keep fit groups she goes to weekly.

Follow your dream home, enjoy it and if you have to move again it isn't the end of the world and you'll have the memories to cherish. Don't buy somewhere for your 80s while in your 60s, unless health issues dictate so.

cfw1994

Definitely go with your dream. 10 or maybe 15-20 years there are years you cannot later replicate!

We plan to remain where we are for the foreseeable.....our place is getting close to "as we want it" (major jobs all done, solar on the roof still earning us some beer money, EV chargepoint taking advantage of the solar too), walks nearby, City 3 miles away (also walkable on a nice day), with 3 major hospitals if needed, arts/theatre/pubs-a-plenty in the meantime!

To those who worry about gardens: I saw "Rob O'Mow". Robotic mowers are now great devices.
We even ventured into the "robotic hoover" market recently with a Eufy 30c, and it is an absolute marvel - astonishing what it picks up even when we have recently cleaned!
High speed broadband is a must for us - we also have security cameras that we can view remotely to keep an eye on the place should we take off for 8 weeks round Europe, etc....

I can imagine once (fingers crossed!) we approach mid-70s, then perhaps we reconsider.
Even then, we have masses of friends in this area, moving to some rural/coastal ideal would be a lonely thing to do: we might be more likely to adapt the house to us rather than move.
As our "kids" once told us, we can always "shut off" the upstairs and move down.....

ibizafan_2

I’ve lived in a small 1970s detached house for twenty years, after getting divorced. My present husband and I had a plan to sell both our houses (we were mortgage free) and buy something else a bit bigger. However, when we looked realistically at the situation, we have stayed put. The house is in one of the best areas of town, has a lovely sunny aspect, is easily walkable to Sainsbury’s, and close to bus routes. His family all live in the area and don’t need to stay over, and one of my sons lives in Australia with his family. It seemed a bit silly spending loads of money on just buying something slightly bigger just in case family needed to stay, so we’ve upgraded the central heating, installed a new kitchen and bathroom and generally made the house very comfortable. We’ve downsized as far as we need to now (we’re 67) so can stay here as long as possible. We do lots of travelling and holidays, so the house is ideal.