My parents downsizing dilemma..

dimbo61

My Dad sold his house over 16 years ago when he turned 70 and moved into a  Sheltered accommodation flat in Chorlton.
He loves being able to walk a short distance into Chorlton and do his shopping, get a meal or have a pint.
He has also enjoyed spending his savings on nice holidays.
The house will sell in the current market and there are flats available.
Forget about trying to buy it.
Help your parents get it valued and sold
Check out local housing association flats.

https://housingcare.org/housing-care/facility-info-16253-mere-court-knutsford-england

dimbo61

My Dad sold his house over 16 years ago when he turned 70 and moved into a  Sheltered accommodation flat in Chorlton.
He loves being able to walk a short distance into Chorlton and do his shopping, get a meal or have a pint.
He has also enjoyed spending his savings on nice holidays.
The house will sell in the current market and there are flats available.
Forget about trying to buy it.
Help your parents get it valued and sold
Check out local housing association flats 

https://www.riverside.org.uk

Slithery

They need to sell it as it is now in the state that it's currently in and buy a new property in good condition that they can handle. Anything else is just asking for problems.

youth_leader

So sorry your parents are in this situation, it is hard to accept when your health goes and you need to face that your home is no longer suitable, but reassure them they will take their happy memories with them.  I eventually sold my house that needed complete renovation at auction, to a minted developer - for a very cheap price, but freedom from the worry was priceless to me.  I don't recommend auction as it cost three times as much as the estate agent, but my house was listed and just wasn't shifting.  I managed to find a bungalow I can afford, and am still settling a year later, but I know it was the right thing to do as regards 'future proofing' especially now energy prices have risen. 

If you help your parents by persuading them to declutter the property, that will be a start.  Start in the loft and work downwards, and donate/sell anything you can. I found Facebook sales very pleasant on the whole, free and paid.  There is also gumtree, charity shops, BHF come and collect furniture. 

Then make sure the front garden has 'kerb appeal', wash all the windows, sparkle clean the whole place, remove/hide personal items and evidence of pets if they have them,  and invite three estate agents round.   The ones that give a high price just want the business, consider the average of the three.   Have a look at the 'sold prices' on RightMove to get a rough idea of what the house would be worth fully modernised, and decide what you are going to market it for.  Don't go too high and have to drop the price.  Get a roofer in to quote for the leaking works so you know what costs are involved in the repair.  Don't worry about the bathroom and kitchen needing renovation, whoever buys it will rip it all out anyway and that will be reflected in the price anyway. 

If they don't get enough to buy, they would at least have enough cash to rent for the rest of their lives, somewhere on one level with a small garden, or a flat with a balcony.    I was in a rented cottage before I bought this bungalow, and the new tenants were aged 68 and 70.  They'd sold their house and decided they didn't want to the responsibility of homeownership.  They did decorate to their taste with the landlord's permission, and are still there, and very happy.  

Good luck.  

SuseOrm

My advice would be to just Sell it and downsize asap.  

I was looking at beautiful properties in amazing condition everything done looked fantastic and derelict shells and there was very little between the two in terms of price at the moment your best bet would be to just get rid of it and downsize although in all honesty in terms of bungalows they tend to sell for more than houses.  

luvchocolate

I agree with the majority on here to sell the house on the open market. 
Research all the housing association providers in your area for over 55s. 
It doesn't matter how much money/properties they have. They will obviously have to pay rent until their supply gets lower. 
Best thing I ever did..depending on their health depends on where they start on the list. 
My housing association you also have to apply put your name on the council list. 
I had a 3 year wait as mine was a want not a need. 
I've seen people move in here within weeks of applying 

TBagpuss

I'd suggest that you speak to your parents about getting an agent in to value the property as it stands, then think about downsizing.

Depending on the value of the house, they may be able to afford to buy a bungalow or other property outright. 

They would be unlikely to qualify for a council property as they have the mean to house themselves but you could check out sheltered housing as this might be appropriate, if they are likely to need support in the near future. 

Can you parents afford the urgent repairs such as the roof? If not, can you or your sister afford to lend them the money to get that done, so that it doesn't deteriorate further.

If your mum is unwilling to let people in because of the condition of the house would she be open to you and your sister coming and doing a thorough deep clean / declutter? Which might be useful if they decide to sell, as well as to improve it in the short term. 

You could look into the cost of getting a stair lift and getting the bathroom redone (perhaps with a walk-in bath or shower) and looking into whether there would be any grants or other help available, but it sounds as though selling any buying something smaller would be the preferred option.

If you mum is determined to stay out, then you could get quotes for all the work that would be needed and then encourage them to look into an equity release mortgage, but if they go down that route, they would still have all the hassle of getting the work done and may still fid that buying somewhere new that's smaller, cheaper to run, and more suited to their current needs, is the better option

another_casualty

This is complicated .If Parents stay put ...
Regarding the boiler if your parents stay put one should be able to get a grant paying a minimal amount ,as homeowner +universal credit says You can . I'm not sure if the current boiler needs to be deemed unusable or words to that effect to get it . There is a cutting point for applications in the year from energy companies . 

It may be an idea to get an occupational therapist to see about getting new bathroom/ shower installed due to mobility issues . They would come around and assess what would improve their way of life and get things installed to improve your parents quality of life in their home .  The downside , is that DWP would take back some money when your parents sell . 

Also as mentioned above , it would be nice if you and your sister did a nice deep clean regardless so that your parents are comfortable , and that your mother wouldn't be too proud / embarresed to let people in . 

If you are trying to buy the home with your sister ...
All I can see is the rattling of hornets nests as mortgage providers who you are with will start looking at " affordability ".  I'd guess that would mean a lot of justification to the lenders that you can afford it and they may say you can't . 

Then there is the costly legal stuff between you, your sister and your parents .
This would probably at some stage involve a deed of trust betweeen you and your sister plus from your parents to yourselves . 

How secure are both you and your sisters jobs ?
If it was a more expensive property then equity release may have been an option, but imho it's too risky for the amount . 

As stated above , if benefits are means tested then if the house was sold your parents would lose out on those . The benefits board should be able to guide you.

After saying all of that , I don't think your parents have a chance of getting a Coincil property . Pipe dream . 

Also as mentioned above , those retirement homes are expensive ( service charges etc) and hard to sell on . 

If either you or your sister never had a mortgage then things would be more appealing.
Much more doable 

Good luck in what you decide ..

RAS

People are advising the Op to look for sheltered housing, or housing association properties limited to over 55s, which are more often available than Council houses.

No-one is suggesting they buy a retirement flat, with high service charges and difficulty selling after death.

gwynlas

Depending on where they are prepared to move there are a number of bungalows availble in greater Manchester beloe 200k.
Another option might be to take equiity release to xtend the ground floor of their property to make it suitable to use as an apartment for them to live in disregarding upstairs for now.