Energy Price Guarantee No Longer 2 years just 6 months at current level

deano2099

deano2099 said:

PennyForThem_2 said:

wittynamegoeshere said:

I've seen my other half's parents half-heartedly looking at houses in estate agents' windows.  They pick up on any negative against their current house (e.g. no dining room, small kitchen), while completely overlooking the advantages over their current one (e.g. safe instead of dangerous wiring, boiler isn't ancient and giving up).

With this sort of psychology there's no chance of them moving - they can't pay anything on top of the value of their current place, so I fail to understand why they think someone else is going to buy theirs at a price that's higher than another that's better in every way.

If everyone thought like this, nobody would ever move.  Our current house has lots of disadvantages over our last one but these were outweighed by the advantages so it was a good decision.

Basically they pretend they want to move but lob obstacles in the way and waste everyone's time.  It's probably an "old" thing.

I am 70+.  I live in a 4 bed house - double glazed, wall insulated since 1990's, loft insulated.  I live 3 miles from town centre overlooking a Council controlled lake and park. What is not to like?  I don't want to downsize - it would cost me to go to a possibly better 'intstagram' designed house from my own.  Where are the incentives for me to give up my home?

Yes - IHT.  As property rises so does this risk.  At the moment although the 'design - afa surface appeal' is not great and an 1990 ambiance indoors, the structure is fine - cavity wall insulation,new roof, loft conversion, soon solar panels, recently painted, double glazing.  I would expect any buyer to update.....

I need a substantial incentive to move, tbh.

How about "soaring energy prices" ?

That's only an incentive if the ability to pay the "soaring" costs is an issue. And even then, it's often not as simple as "just move, then" - something which has been repeatedly covered earlier in the thread. 

I don't think anyone is arguing that people living in houses they can afford and are happy in should move. But equally then you can't be asking for help with paying the energy bills.
Moving can be tricky but it's the same for everyone. If you can't make ends meet, then you either cut back elsewhere or you have to move to somewhere you don't really want to live. Neither is ideal.

The other option is to essentially close off parts of the house, stop heating them, let them get damaged. Also not a good option. But it's basically the only one left. 

EssexHebridean

Out of interest I have just done a quick RM search to get an idea of some actual costs for downsizing, based on Mum's situation - in our area, a search for 2 bed terraced houses turns up 4 options below the stamp duty threshold. Not only are there NO 2 bed bungalows in that price range, you have to go all the way up to £425k before seeing even one bungalow appear. That is a cost of £8,750 in stamp duty. Mum's current house would fetch an absolute maximum of £300k if sold tomorrow. Legals fees and disbursements - a little over £1000. Agents fees - and yes, those WOULD be needed - I can't say I'd much fancy the idea of my 78 year old Mum there on her own welcoming complete strangers into her home for viewings, to be honest - £3000. Removal costs at least £500 - probably more these days in our area. That is nearly £140k real cost for Mum to downsize to a property which would also then be in a higher council tax band, so immediately costing her an additional amount in annual bills. Might she make some savings in energy costs due to better insulation etc? Yes - probably, and maybe enough to wipe out the hike in CT - let's assume a saving of £300 a year which is probably over-generous but there you go. So, just the 466 years for Mum to recoup the cost of her "downsizing" in energy savings... 

ariarnia

here the two bungalows within a mile of this postcode on right move (one sold subject to contract and one on the market) are £290k and £385k.

theres also two one bed flats for £80k and £170k but nether would be sutitable for her mobility (and shed be miserable as both have tiny kitchens and no space for a family meal). a few of two bed flats for sale. two on a top floors for £160 or £184k. one looks full of damp for 140. two possible ground floor flats for £240 or £275 (would need viewing). 

valuing her current 3 bed semi is harder but when we bought ours a couple of years ago it was 130k and the bank seems to think its gone up in value to around £180 based on when we remorgaged a couple of months ago. theres a few similar on right move for around 240. the highest priced one listed thats really even a little comparable (its extended and hers isnt) is 315 and one that's not at all comparable thats 380 (thats three bed and three bath). 

like i said the idea that a two bed is always cheaper than a three bed is blatantly and obviously wrong. 

EssexHebridean

ariarnia said:

here the two bungalows within a mile of this postcode on right move (one sold subject to contract and one on the market) are £290k and £385k.

theres also two one bed flats for £80k and £170k but nether would be sutitable for her mobility (and shed be miserable as both have tiny kitchens and no space for a family meal). a few of two bed flats for sale. two on a top floors for £160 or £184k. one looks full of damp for 140. two possible ground floor flats for £240 or £275 (would need viewing). 

valuing her current 3 bed semi is harder but when we bought ours a couple of years ago it was 130k and the bank seems to think its gone up in value to around £180 based on when we remorgaged a couple of months ago. theres a few similar on right move for around 240. the highest priced one listed thats really even a little comparable (its extended and hers isnt) is 315 and one that's not at all comparable thats 380 (thats three bed and three bath). 

like i said the idea that a two bed is always cheaper than a three bed is blatantly and obviously wrong. 

This was an absolute stand-out to me on my research too - including 3 beds in the equation as well definitely opened up more options but of course wouldn't fit the bill for the "downsizing" brief either in Mum's case. It should also be said that even then, there was still nothing at a comparable price with Mum's current terraced home, and nothing which would even come close to "zero stamp duty".  

Dizee123

I live in a road of 1930s bungalows, which were originally mainly 2 bedrooms.  Now very few of the two bedroom type remain.  As they have large gardens they have been bought by families that want more than the postage stamp garden that comes with many new builds.  As a result, many have now been converted into 4 bedrooms with the addition of loft conversions and the usual open plan bifold door extensions to the rear.  Result is that they have rocketed in price (development potential) and are now out of reach of older people downsizing (even if they did want the upkeep of a large garden).  No easy answer unless the over 55s are content to live in the new style retirement 'villages' that are springing up everywhere around where I live.  

Alnat1

53 bungalows for sale in the Barnsley area for £250K and under, some are 3 bed, some 2. Many have a decent garden. Admittedly an older style 2 bed terraced house in the area would probably fetch a maximum of £150K though.

I guess it all depends where in the country you are happy to live.

lisyloo

Alnat1 said:

53 bungalows for sale in the Barnsley area for £250K and under, some are 3 bed, some 2. Many have a decent garden. Admittedly an older style 2 bed terraced house in the area would probably fetch a maximum of £150K though.

I guess it all depends where in the country you are happy to live.

For an elderly person who might need lifts and DIY help from family members, that's usually near their family.

Spoonie_Turtle

wittynamegoeshere said:

It all can be done, it took a lot of planning and a few worries but it all worked out in the end.  We're definitely not rich.

That's nice for you, not everyone can do it themselves and not everyone has a few spare hundreds to hand, especially those already struggling to pay the bills and afford food.  Y'know, the ones struggling the most.  [And if they own their home, they're a lot less likely to be entitled to means-tested benefits and be getting the targeted help before anyone brings that up.]

Ultrasonic

Miser1964 said:

So we'll now be reliant on the billionaire Rishi to decide how much we'll  be clobbered by sky-rocketing energy prices. What a time to be alive. 

Rishi is not a billionaire, and bear in mind the HUGE amounts of public support that were give out through COVID and more recently for energy whilst he was chancellor. The fact that Rishi married a very rich woman does not somehow disqualify him from being PM. (And whilst I'm sure his marriage wasn't about the money, as personal financial plans go it wasn't a bad one!)

PennyForThem_2

deano2099 said:

PennyForThem_2 said:

wittynamegoeshere said:

I've seen my other half's parents half-heartedly looking at houses in estate agents' windows.  They pick up on any negative against their current house (e.g. no dining room, small kitchen), while completely overlooking the advantages over their current one (e.g. safe instead of dangerous wiring, boiler isn't ancient and giving up).

With this sort of psychology there's no chance of them moving - they can't pay anything on top of the value of their current place, so I fail to understand why they think someone else is going to buy theirs at a price that's higher than another that's better in every way.

If everyone thought like this, nobody would ever move.  Our current house has lots of disadvantages over our last one but these were outweighed by the advantages so it was a good decision.

Basically they pretend they want to move but lob obstacles in the way and waste everyone's time.  It's probably an "old" thing.

I am 70+.  I live in a 4 bed house - double glazed, wall insulated since 1990's, loft insulated.  I live 3 miles from town centre overlooking a Council controlled lake and park. What is not to like?  I don't want to downsize - it would cost me to go to a possibly better 'intstagram' designed house from my own.  Where are the incentives for me to give up my home?

Yes - IHT.  As property rises so does this risk.  At the moment although the 'design - afa surface appeal' is not great and an 1990 ambiance indoors, the structure is fine - cavity wall insulation,new roof, loft conversion, soon solar panels, recently painted, double glazing.  I would expect any buyer to update.....

I need a substantial incentive to move, tbh.

How about "soaring energy prices" ?

Insulation is good.  Solar panels are afordable and preferable to decorating inside.  As a retiree I can maximise my electrical use to daylight hours.