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Getting older - options?

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Eclipsemum Mon 15-Jul-19 10:46:36

Hi all,

I hope you can help. My Mum is approaching 70, is no longer with my Father and has not got a huge amount of money (mainly just her small house). She’s not spoken at length about what she plans to do in the future, because at some point soon she is going to run out of money and will have to sell the house just to have money to live. What are the best accommodation options for you when you get to your 60s/70s? She wants to live independently (and can) for as long as possible but has raised the idea of us creating our summer house into a granny annexe which isn’t impossible, but probably not ideal (it’s v small) although it may allow her to help with childcare.
Are retirement communities reasonably priced? Are there any options I’m not aware of? We live in North Surrey so not that cheap... there are a lot of “over 60 lease to buy” type properties for sale?
I’d love anyone’s advice.

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Anniebach Sun 08-Mar-20 16:33:05

pinkquartz I too live in a one bed council bungalow,

Tumble dryer in the bedroom.

Vacuum cleaner and floor mop and bucket in bathroom

Younger daughter visits and has to stay in a hotel.

Kitchen too small for a kitchen table,

Can’t even do jigsaw puzzles

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blondenana Sun 08-Mar-20 16:42:40

I'm 77 and would hate to live in a retirement community,
Your mum shouldn't need to sell her house to live surely, she will get a pension and possibly can get housing benefit.and pension credit
I would look into these first before having to move
Does she want to move,from where is familiar to her?
70 isn't old, and woe betide anyone who calls me old, o tried to get me into a retirement place
You are as old as you feel, i believesmile

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Daisymae Sun 08-Mar-20 18:05:26

If she owns her own home she's not likely to get sheltered accommodation and she would have considerable assets. I would think carefully before buying a retirement property as they can lose value. At her age she could look for a part time job which should help her finances. I assume that you pay her for childcare? Maybe talk to her again and explore options.

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ValerieF Wed 11-Mar-20 20:45:48

Have you spoken to your mum about this? Why can't she stay where she is? Does she have a mortgage she can't pay? If she has paid her house off, but has no other income or savings apart from her state pension, she could qualify for help in other ways. Has she looked into this? First trip would be to Citizens Advice to see what she is entitled to (or there are on-line quotes also).

Your mum is still relatively young at 69. Unless she has other problems, she should be ok staying in her own house.

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