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    • seven-day-weekend
    • By seven-day-weekend 5th Aug 14, 6:09 AM
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    seven-day-weekend
    Downsizing
    • #1
    • 5th Aug 14, 6:09 AM
    Downsizing 5th Aug 14 at 6:09 AM
    Everyone says you should do it while you can rather than wait until you are too old/ill/frail and in principal I agree with this.

    We have a mid-terrace Victorian house so not a huge amount to downsize from. But we decided to look anyway.

    We wanted a bungalow on a bus route and near shops in a decent area. So we had a look round and came up with this:

    http://www.rightmove.co.uk/property-for-sale/property-41561581.html

    It is near a bus stop, near shops and other amenities and even has a local railway station just up the road (the railway runs along the back of the property but that does not bother us as it is only a local line). It has a garage (which we've never had before) and a small garden. We had a look through the windows (the property is empty) and could see that it needs a bit of work doing but we don't mind that.

    It looks just what we want.

    However..... we came back home and looked at our nice house with wildlife garden and pond and thought how could we possibly move from that into a small bungalow? We would lose a dining room, one bedroom and a large dry cellar which is used for storage and the garden is much smaller. We could just see ourselves being crammed into this little place and feeling caged up and hating it. But the point of downsizing is to have a smaller house and garden, right??

    The downsides to our house are - no garage, the street outside is like a linear car park on both sides and my husband is increasingly worried about the area declining, as more houses become buy-to-lets and more eastern European immigrants arrive (the area has always been multicultural, but the latest arrivals do seem to be very intrusive and not attempting to fit in).

    At the moment we have decided to stay put and in fact are spending a few grand on a summerhouse for the top of our long garden.

    But I'm wondering whether this is the right decision? Absolute dilemma. It's a head and heart situation.

    Discussion welcomed.

    (We are fit and healthy mid-60s. My husband does have arthritis in his knees, although this usually does not bother him too much).
    Last edited by seven-day-weekend; 05-08-2014 at 6:48 AM.
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
Page 13
    • seven-day-weekend
    • By seven-day-weekend 28th Sep 15, 11:03 AM
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    seven-day-weekend
    One half of my family is Welsh. Have you considered North Wales rather than South Wales? Same distance from Wolverhampton and MUCH better weather than the south. If we were living in Wales rather than Scotland, my first choice would be Llandudno. I liked the beach area around Holyhead too, though my daughter commented at the time we were looking that the easiest big city to get to from there was in another country (Dublin!). I wasn't really inth Rhyl. Too much history of flooding problems. Caernarfon looked pretty interesting.


    Wherever you decide on though, I definitely recommend going there and staying, just for a few days, first, before buying anything.
    Originally posted by dktreesea
    We love North Wales and it would definitely be on the cards, especially Barmouth or Portmadog areas, but for the experiences my husband had when he was doing his teacher training there in Bangor. He was the subject of much adverse treatement from the Welsh people in the village he was living in - not serving him in shops, not speaking if he spoke to them - simply because he was English. Our more recent visits, especially one to Llanberis, at the foot of Snowdon, does not convince him we would be treated any better now, over thirty years later.

    Otherwise, beautiful North Wales would be our first choice. We visit frequently, but he has been put off buying there.
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • seven-day-weekend
    • By seven-day-weekend 2nd Oct 15, 7:24 AM
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    seven-day-weekend
    We have now officially moved into our bungalow, although the sale has not yet completed on our house. In the unlikely event that it does not complete, we'll with put it into an auction or rent it out.

    So I think this thread is now finished unless anyone else wants to add anything.

    Thanks for all the discussion.
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • seven-day-weekend
    • By seven-day-weekend 2nd Nov 15, 4:47 PM
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    seven-day-weekend
    We have decided not to buy a holiday home, we wouldn't use it enough. Instead we have gone back to Plan A, which was to buy an apartment to rent out, and indeed today have made an offer on this one:

    Www.rightmove.co.uk/property-for-sale/property-33096588.html
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • gallygirl
    • By gallygirl 2nd Nov 15, 5:22 PM
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    gallygirl
    Looks an ideal BTL SDW, here's hoping .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = 0
    "Do what others won't early in life so you can do what others can't later in life"
    • seven-day-weekend
    • By seven-day-weekend 2nd Nov 15, 5:24 PM
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    seven-day-weekend
    Just heard.... our offer has been accepted! AGH!!
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • gallygirl
    • By gallygirl 2nd Nov 15, 5:44 PM
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    gallygirl
    Just heard.... our offer has been accepted! AGH!!
    Originally posted by seven-day-weekend
    Gah - that's the problem with making offers on houses and applying for jobs - sometimes you get them . Good news .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = 0
    "Do what others won't early in life so you can do what others can't later in life"
    • mumps
    • By mumps 2nd Nov 15, 7:37 PM
    • 5,714 Posts
    • 12,722 Thanks
    mumps
    Just heard.... our offer has been accepted! AGH!!
    Originally posted by seven-day-weekend
    Welcome to the wonderful world of landlords. The flat looks very nice. Are rental returns good in the area?
    Sell 1500

    2831.00/1500
    • seven-day-weekend
    • By seven-day-weekend 3rd Nov 15, 5:47 AM
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    seven-day-weekend
    Welcome to the wonderful world of landlords. The flat looks very nice. Are rental returns good in the area?
    Originally posted by mumps
    Yes, I can't work percentages lout, but we are happy with what wee shall get.

    This is a new development on the old Goodyear site, very accessible to motorways M6, M5 and M54 and also on a good bus route into the city centre and then the railway station.

    The flats we are getting is two years old, but it's owner has only lived in it for six months as he has moved in with his girlfriend. He put the flat for sale at a higher price for ages and got no viewings, however since he has reduced it after an independent valuation, he has had people queuing up.

    It's a nice flats with two good bedrooms and an ensuite, so it would suit either a single person, a couple, or two friends sharing.

    Ho well, another adventure coming up!
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • seven-day-weekend
    • By seven-day-weekend 3rd Nov 15, 5:47 AM
    • 34,021 Posts
    • 68,653 Thanks
    seven-day-weekend
    Welcome to the wonderful world of landlords. The flat looks very nice. Are rental returns good in the area?
    Originally posted by mumps
    Yes, I can't work percentages out, but we are happy with what wee shall get.

    This is a new development on the old Goodyear site, very accessible to motorways M6, M5 and M54 and also on a good bus route into the city centre and then the railway station.


    There is a Lidl and a Hungry Horse pub on the site.


    The flats we are getting is two years old, but it's owner has only lived in it for six months as he has moved in with his girlfriend. He put the flat for sale at a higher price for ages and got no viewings, however since he has reduced it after an independent valuation, he has had people queuing up.

    It's a nice flats with two good bedrooms and an ensuite, so it would suit either a single person, a couple, or two friends sharing.

    Ho well, another adventure coming up!
    Last edited by seven-day-weekend; 03-11-2015 at 6:18 AM.
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • gallygirl
    • By gallygirl 3rd Nov 15, 7:27 AM
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    gallygirl
    Yes, I can't work percentages lout, but we are happy with what wee shall get.
    Originally posted by seven-day-weekend
    On the assumption you paid just below the asking price, and get 550 a month which seems about right, you're looking at a gross yield of +7.5% which is great and hopefully running costs won't be high as it's so new. What are the monthly service charges like as that could affect it quite a bit?
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = 0
    "Do what others won't early in life so you can do what others can't later in life"
    • missbiggles1
    • By missbiggles1 3rd Nov 15, 7:39 AM
    • 16,254 Posts
    • 30,257 Thanks
    missbiggles1
    We have decided not to buy a holiday home, we wouldn't use it enough. Instead we have gone back to Plan A, which was to buy an apartment to rent out, and indeed today have made an offer on this one:

    Www.rightmove.co.uk/property-for-sale/property-33096588.html
    Originally posted by seven-day-weekend
    That sounds better. I did wonder how much use you'd get out of it, what with the housesitting and all.

    Well done.
    • seven-day-weekend
    • By seven-day-weekend 3rd Nov 15, 8:16 AM
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    seven-day-weekend
    On the assumption you paid just below the asking price, and get 550 a month which seems about right, you're looking at a gross yield of +7.5% which is great and hopefully running costs won't be high as it's so new. What are the monthly service charges like as that could affect it quite a bit?
    Originally posted by gallygirl
    Service charges c.85 pcm. We are paying 85k for the apartment.

    Thanks for the calculation
    Last edited by seven-day-weekend; 03-11-2015 at 8:22 AM.
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • mumps
    • By mumps 3rd Nov 15, 9:42 AM
    • 5,714 Posts
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    mumps
    Yes, I can't work percentages out, but we are happy with what wee shall get.

    This is a new development on the old Goodyear site, very accessible to motorways M6, M5 and M54 and also on a good bus route into the city centre and then the railway station.


    There is a Lidl and a Hungry Horse pub on the site.


    The flats we are getting is two years old, but it's owner has only lived in it for six months as he has moved in with his girlfriend. He put the flat for sale at a higher price for ages and got no viewings, however since he has reduced it after an independent valuation, he has had people queuing up.

    It's a nice flats with two good bedrooms and an ensuite, so it would suit either a single person, a couple, or two friends sharing.

    Ho well, another adventure coming up!
    Originally posted by seven-day-weekend
    Sounds like it should be a good area for letting. I can't remember but I assuming it doesn't have gas? So you don't need to worry about the gas certificate and the electric certificate should be easy with it only being 2 years old. Are you going to use an agent? If you do it should all be very straightforward.
    Sell 1500

    2831.00/1500
    • seven-day-weekend
    • By seven-day-weekend 3rd Nov 15, 12:21 PM
    • 34,021 Posts
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    seven-day-weekend
    Sounds like it should be a good area for letting. I can't remember but I assuming it doesn't have gas? So you don't need to worry about the gas certificate and the electric certificate should be easy with it only being 2 years old. Are you going to use an agent? If you do it should all be very straightforward.
    Originally posted by mumps
    No gas and we are goin g to use an agent for at least the first six months .

    We have taken our ID intro the EA and instructed solicitor today.
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • mumps
    • By mumps 3rd Nov 15, 5:04 PM
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    mumps
    No gas and we are goin g to use an agent for at least the first six months .

    We have taken our ID intro the EA and instructed solicitor today.
    Originally posted by seven-day-weekend
    I think it is worth it for the first six months, gives you peace of mind. I have two buy to lets but they are let out to family members so not the same sort of problem.
    Sell 1500

    2831.00/1500
    • seven-day-weekend
    • By seven-day-weekend 9th Dec 15, 12:47 PM
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    seven-day-weekend
    We have just said goodbye to our old home of nearly forty years. The sale completes tomorrow. End of an era. I hope the new family will be as happy there as we were.

    Thanks old house, you served us well.
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • angela110660
    • By angela110660 11th Dec 15, 6:04 PM
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    angela110660
    Hope the move goes well and you will be very happy in your new home. Just in time for Christmas too!
    Free films - 2009: saw 7 films. 2010 saw 7 films. 2011 saw 7 films. 2012 saw 5 films;2013 saw 7 films; 2014 and 2015 saw 1 in each. Nothing since!
    • Marine_life
    • By Marine_life 21st Dec 15, 10:43 PM
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    Marine_life
    I always said to my wife that we would downsize when we retired.

    So we sold our three bedroom 240 sqm house and bought a 300 sqm one!

    Well the one we sold was 650,000 the one we bought was 450,000 - my wife says we're downsizing in price but not in size and who can argue with that ;-)
    Money won't buy you happiness....but I have never been in a situation where more money made things worse!
    • seven-day-weekend
    • By seven-day-weekend 7th Jan 16, 2:20 PM
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    seven-day-weekend
    The purchase of our BTL property completes on January 15th .

    We are once again exploring a holiday home, but this time a mobile one. We have found the van we want, now we are going to look at sites, initially on the Shropshire/Wales borders as it is within two hours from home and not too far to go for just an overnight stay.We will not go ahead with buying the van if we can't find the right site.
    Watch this space........
    Member #10 of 2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
    • pollyanna 26
    • By pollyanna 26 8th Jan 16, 3:51 PM
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    pollyanna 26
    good luck with the search SDW . Fingers crossed .
    polly
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