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Downsizing

Covering Market, Trends, and Practical (but see LEMON-AID for Building & DIY)
scotview
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Downsizing

#489674

Postby scotview » March 28th, 2022, 7:20 am

Has anyone considered downsizing their property or gone through the process?

I turn 70 this year. Our home is 30 years old and in good condition. Insulation installed, zone heating, garden maintenance minimised.
We are looking at installing solar PV and storage batteries with emergency power backup, but the Scottish grant scheme may expire this month.
If we go ahead with Solar then we will probably stay in the property for another 10 years. The energy rating will go from mid C to lower B so should be attractive for selling if we downsize. We feel it is maybe too early to downsize at present.

Has anyone considered downsizing or actually done it? What were your considerations? What was your decision ? Was it a success? Did you consider a "retirement" type property ?

Thanks in advance.

Scotview

AsleepInYorkshire
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Re: Downsizing

#489677

Postby AsleepInYorkshire » March 28th, 2022, 7:38 am

I've not downsized. Our plan is to remain. Though we know we may have to be flexible about that, we are contemplating an extension which would allow us in time to live downstairs only.

I'm not really able to help - but would you mind if I mentioned one thought which just flew into my head please. Can you rent your home and use the rent to rent something smaller? Or is that risk too far?

Good luck

AiY(D)

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Re: Downsizing

#489749

Postby TahiPanasDua » March 28th, 2022, 2:10 pm

I would imagine that there are many reasons why oldies might move home.

I'm 77 and we moved home a couple of months ago.

It wasn't downsizing. The new place is slightly bigger and more expensive but is in a development we kept an eye on after an offer was unsuccessful a few years ago. The big attraction was the beautiful layout (and I'm an architect!), the lovely setting, seemingly in quiet parkland, great views, yet only a 10 minute walk into Stirling city centre. It also has an excellent bus service as my wife can't drive. Who knows when I will also have to hang up the driving gloves?

We looked at handsome 2 storey Victorian houses with a view to living only on the ground floor but were always disappointed by the toilet numbers and locations. We were also worried about cleaning large floor areas and managing inevitable repairs in our decrepitude.

We had looked at McCarthy Stone retirement flats nearby and were thoroughly unimpressed. They are small and poorly laid out. They are always festooned with For Sale signs. Our flat is in a 4 storey development with a lift and while obviously aimed at oldies, anyone can and does buy there. There are no communal lounges, superintendents, etc. They sell like proverbial hotcakes.

Good luck with whatever you decide!

TP2.

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Re: Downsizing

#489769

Postby modellingman » March 28th, 2022, 3:18 pm

scotview wrote:Has anyone considered downsizing their property or gone through the process?

I turn 70 this year. Our home is 30 years old and in good condition. Insulation installed, zone heating, garden maintenance minimised.
We are looking at installing solar PV and storage batteries with emergency power backup, but the Scottish grant scheme may expire this month.
If we go ahead with Solar then we will probably stay in the property for another 10 years. The energy rating will go from mid C to lower B so should be attractive for selling if we downsize. We feel it is maybe too early to downsize at present.

Has anyone considered downsizing or actually done it? What were your considerations? What was your decision ? Was it a success? Did you consider a "retirement" type property ?

Thanks in advance.

Scotview


I suspect your home's energy rating (which is a pretty crude measurement of its actual energy efficiency) will probably have very little impact on any potential buyer. I may be reading what you have written in a way that you have not intended but it does seem that you are allowing a decision on improving energy efficiency to determine a subsequent decision on whether to stay or not. For me, it would definitely be the other way around. Am I going to stay and, if yes, what changes am I going to make.

There are lots of factors that you will no doubt want to weigh in your decision-making. Important among these should be, in my opinion, will this house be suitable for me in 5-10 years time. Stairs and locations of bathrooms may well be important considerations here - unfotunately, mobility and agility tend not to improve with age. Other factors might include whether you have visitors or family who regularly stay overnight with you. And, if you are thinking about downsizing, it would be sensible to have some thoughts in mind about what to and where to.

The older friends I know (and I'm 67) who have successfully managed downsizing are those who have thought seriously about their future. Most people can manage to carry on living where they are until they can't because some crisis, often a health crisis, strikes. It is at that point that control can be lost and other people start making the decisions for you.

As it happens, I am in the midst of what has been a long process of downsizing. A good few years ago my wife and I bought a second home abroad. That home was definitely bought with an eye to the future - all on one level (so no stairs) and a large but largely maintenance free garden with tiled and generally sunny terrace areas . A combination of Brexit and covid means it has now become our primary home.

AsleepInYorkshire wrote:I'm not really able to help - but would you mind if I mentioned one thought which just flew into my head please. Can you rent your home and use the rent to rent something smaller? Or is that risk too far?


We still own our old family house of 25 years+ back in England but are in the process of slowly emptying it ready to sell. We did consider renting it out, but I have been (and still am) a UK landlord so know something of what is involved. Renting out property is definitely not a passive investment and, if you've not done it before, I would not recommend starting at 70, particularly with a property you have owned and lived in. Ex-owners tend to make the worst landlords - there's just too much emotional baggage involved that most cannot leave behind.

Good luck with whatever you decide.

modellingman

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Re: Downsizing

#489783

Postby Lootman » March 28th, 2022, 4:18 pm

scotview wrote:Has anyone considered downsizing or done it? What were your considerations? What was your decision ? Was it a success? Did you consider a "retirement" type property?

We downsized in 2011, when our children had all permanently left home. The heating bills were not the issue, although they might have been if we were in Scotland. Rather it was to reduce the maintenance and cleaning that was needed. Our old home was about 500 square metres of living space, plus a large garden. It just became too much to clean and maintain, or pay someone else to do it. Perhaps if I enjoyed chores and garden work then it would have been better, but I don't.

We moved to a property that is about 150 square metres of living space, in the same area. Funnily enough the council tax is about the same, due to a beneficial anomaly of the banding for the old property.

Of course another benefit of downsizing is that it removes any risk of our children returning to the parental home. :D

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Re: Downsizing

#489798

Postby Lanark » March 28th, 2022, 4:52 pm

scotview wrote:We feel it is maybe too early to downsize at present.

A thing to remember is that statistically you are less and less likely to move house the older you get, most people over the age of 55 are already living in their last house whether they realise it or not.

If you wait until you need to downsize, you will probably find it is just too difficult/stressful to even contemplate.

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Re: Downsizing

#489802

Postby TahiPanasDua » March 28th, 2022, 5:05 pm

Lanark wrote:
scotview wrote:
If you wait until you need to downsize, you will probably find it is just too difficult/stressful to even contemplate.


Absolutely correct. I had a stressful job for years and moved countries eight times but I found the last relatively straightforward move the most stressful of all.

Do it while you can.

TP2.

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Re: Downsizing

#489838

Postby richlist » March 28th, 2022, 7:34 pm

Most of our friends & some of the family have downsized in the last 5 years......some of them to free up equity. When I was asked when we think we might do the same I think I shocked them with my response. I said if I were to move it would probably be to a bigger place not something smaller. After all you can never have enough space.

We are all different aren't we.

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Re: Downsizing

#489844

Postby bluedonkey » March 28th, 2022, 8:04 pm

In my 60s, about to retire. Keen to have a smaller place, currently in our long-term 4 bedroom home. Hate property maintenance, cleaning, etc. Saw my elderly parents struggle with a detached 5-bedroom property as they got into their 80s. I want to spend time doing things like traveling, following my interests, etc rather than looking after a large property. My relative nearly in her 80s, decided to move before her large garden became too much to keep up. Age is a secular trend!

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Re: Downsizing

#489847

Postby richlist » March 28th, 2022, 8:10 pm

Large gardens don't need to be a problem. A gardener around our way can be had at £10 an hour, others are £15 an hour.
If it's just the large garden that's worrying you, have it hard landscaped or put it all out to lawn and buy a robotic mower......that's got to be way cheaper than moving home.

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Re: Downsizing

#489860

Postby Lootman » March 28th, 2022, 8:40 pm

richlist wrote:Large gardens don't need to be a problem. A gardener around our way can be had at £10 an hour, others are £15 an hour.
If it's just the large garden that's worrying you, have it hard landscaped or put it all out to lawn and buy a robotic mower......that's got to be way cheaper than moving home.

Sure, but when you have spent a couple of decades landscaping a brilliant garden, then it is psychologically very hard to just turn it all over to lawn or stone.

I would rather sell that vision to someone who has the youth, energy and enthusiasm to build upon it.

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Re: Downsizing

#489912

Postby monabri » March 29th, 2022, 8:14 am

richlist wrote:Most of our friends & some of the family have downsized in the last 5 years......some of them to free up equity. When I was asked when we think we might do the same I think I shocked them with my response. I said if I were to move it would probably be to a bigger place not something smaller. After all you can never have enough space.

We are all different aren't we.


Ditto.

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Re: Downsizing

#491316

Postby stevensfo » April 3rd, 2022, 6:19 pm

monabri wrote:
richlist wrote:Most of our friends & some of the family have downsized in the last 5 years......some of them to free up equity. When I was asked when we think we might do the same I think I shocked them with my response. I said if I were to move it would probably be to a bigger place not something smaller. After all you can never have enough space.

We are all different aren't we.


Ditto.


Agreed. I love plenty of space. The diminishing size of houses in the UK is a disgrace, but it's been done slowly over a long time so people simply get used to living in rabbit hutches. Anyway, it's not just the size of the place. It's how much work you need to clean it!! Some houses have large spaces on one level that a cheap robot vacuum cleaner will take care of. Ditto with level gardens.

Our own house is the worst on every level. We have the garden on three levels and loads of stairs in the house. Although I love it, it's a pain to clean, and 'she who must be obeyed' likes it, but I don't know how we'll cope in 10 years.

Steve

PS When will we have robot vacuum cleaners that can climb stairs?

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Re: Downsizing

#491569

Postby richlist » April 4th, 2022, 5:16 pm

They are already available in my part of Essex. They charge around £10-£15 an hour and are called home helps.

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Re: Downsizing

#491574

Postby ReformedCharacter » April 4th, 2022, 5:36 pm

richlist wrote:They are already available in my part of Essex. They charge around £10-£15 an hour and are called home helps.

If you're paying £10-£15 per hour to hire a robot you're paying too much.

RC

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Re: Downsizing

#491637

Postby stevensfo » April 4th, 2022, 8:42 pm

richlist wrote:They are already available in my part of Essex. They charge around £10-£15 an hour and are called home helps.


My wife officially retired from her full-time job last year and said that we don't need a cleaner any more cos she'll be at home.

Reality - she works just as hard doing part time consultancy stuff, loves her work, so guess what? Muggins gets roped in to help clean the house at the weekend.

So I've put my foot down and we will have a cleaner again. Actually, the cleaner's Ukrainian! I used her when my wife was away and when the wife returned, it took her all of 5 minutes to realise that something was different. ;) Seems I didn't have a good record as a cleaner.

Should be easier now that I have to start mowing the lawn again, so have an excuse for avoiding other work.

PS Our house and garden are far too big for us, but I guess the word 'home' means different things for different people. I can't imagine ever leaving.

PPS Our retired relatives in Yorkshire upsized to a huge house in Scotland and have never been happier!

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Re: Downsizing

#491764

Postby richlist » April 5th, 2022, 10:28 am

My next door neighbour tripped over and broke her arm. We do what we can for her but she now she has a home help come in twice a week. She is so impressed she has decided that after she is back to normal she'll pay to continue with a cleaner twice a week.

We reckon that's gonna cost her approx £120 a month. She already has a gardener that's approx £60 a month. So for £180 a month most of the physical & mundane tasks are covered. Seems like a bargain.

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Re: Downsizing

#498236

Postby Charlottesquare » May 3rd, 2022, 5:15 pm

richlist wrote:My next door neighbour tripped over and broke her arm. We do what we can for her but she now she has a home help come in twice a week. She is so impressed she has decided that after she is back to normal she'll pay to continue with a cleaner twice a week.

We reckon that's gonna cost her approx £120 a month. She already has a gardener that's approx £60 a month. So for £180 a month most of the physical & mundane tasks are covered. Seems like a bargain.


Given house prices and age it could work out cheaper than moving, my mother in law (in her 90s) moans about the cost of her gardeners but given the LBTT (your SDLT) plus moving costs she would pay if she downsized there seems little point in moving, she if ground floor, bus stops adjacent/opposite so really what is the point.

We on the other hand (age 62) will move to something with a south/west facing garden and no stairs in the next 3-4 years but hopefully will get enough years to make the frictional moving costs worthwhile.

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Re: Downsizing

#498237

Postby monabri » May 3rd, 2022, 5:18 pm

Cost of moving versus the cost of getting someone to dig the garden?

Then there's the hassle of moving and what if the new neighbours are unfriendly?

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Re: Downsizing

#498259

Postby 88V8 » May 3rd, 2022, 8:01 pm

scotview wrote:Has anyone considered downsizing their property or gone through the process?

Inadvertently. We retired/moved when we were 60. From a house c1,100 sq ft to one c950 sq ft. But the previous house (1920) had a lot of built-in cupboards and the walls were vertical. The new one (1620) had no cupboards and walls unacquainted with a plumbline. As a result we had to part with much of our antique furniture and still have more stuff than we can really accommodate.
The downsizing was not at all intentional. We wanted out of the old place due to 'development' in the area.... I have another word for it.... we saw this place and as soon as we walked up the (steep) drive all common sense and other considerations rather went out of the window.

The new place has a very labour-intensive half-acre garden, steeply sloping, to which we have added by buying a bit more land to grow veg, the house is a maze of stairs and different levels, and has needed a good deal of (my) work and still does, and as regards cleaning it seems to have its own built-in dust generator.

Had I the time again to remake that move of ten years ago, I would be looking for a larger place, and newer, probably c1900-1910.
But unspoilt old houses are very hard to find.

It depends, you see. It depends what you want. We thought nothing about health, or labour-saving. Or energy saving... this cottage with its uninsulated 4" walls radiates heat like a can-can dancer's bottom, and we really don't care. We just wanted an unspoilt old house in a peaceful location. Although if I could have moved our previous house, physically picked it up and moved it, I would have done. Over thirty years I spent perhaps 30,000 hours on that house, in addition to the day job, and it suited us very well, it was the area that gradually was being ruined.

If we moved again, just into our 70s, at present health and labour saving and energy efficiency would again score zero on the priority list. I fancy Helston, or perhaps somewhere near the sea. It may never happen... do I have the oomph to restore another house... hmmm...

Only you can decide what is good for you. But as regards cleaning, I can tell you it is overrated. Leave dust alone and it will leave you alone. Vacuuming throws up a lot of dust, and dusting just moves it around. If you allow the windows to become... naturalised.. one cannot see the dust anyway.

Here we are... as it was on purchase, and pretty much still is.

V8

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