Benefits after inheritance and housing after receiving inheritance

HillStreetBlues

OhWow said:

Private renting is a huge risk. He could end up with a bad landlord (who doesn't want to carry out their repairs) or a broke landlord (who can't afford to carry out their repairs/ has to sell up due to their own financial woes).

Or get served a Section 21

As I've been served a S 21 I  would certain be buying.
Personally the concern about not knowing if you will still be in your home in a few months time far outweigh any maintenance issues.
Also by buying  you can take out equity release in the future to fall back on if needed.

born_again

OhWow said:

Buying on a retirment village seems like a good idea

Check check very carefully for service charges.. So are not cheap & have annual increases.

Jenniefour

Agree on checking service charges very carefully - as well as cost of buying in a retirement village. 

TELLIT01

born_again said:

OhWow said:

Buying on a retirment village seems like a good idea

Check check very carefully for service charges.. So are not cheap & have annual increases.

It's not just the service charges to be aware of and concerned about.  If/when he is no longer occupying e.g. long term illness or death, all charges continue at many places until the property is sold.  If the retirement village isn't sold out, they will be far more interested in selling the units they still own than in facilitating a resale.

xylophone

Unfortunately my uncle suffers from mental issues that renders him unable to work. He is also two years away from retirement age.

Does his local council offer properties specifically for the over 60's?

Or would he be eligible for retirement housing in a housing association scheme?

Or any other specialised housing?

This could give him more comfortable and suitable housing - clearly his inheritance would enable him to pay his rent.