In a bit of a dilemma regarding a house move

Andipandy

I would certainly follow my dream. Why not let one of the bedrooms on airbnb once in a while. I do that and it is not only good momey, but an interesting and social way of earning money. It also gives you the chance to “show off” your beautiful home and lovely garden. I really enjoy getting compliments and I love it when my guests feel comfortable sitting in my garden. That way you can “make your house work” for you as I put it. Being safe is not always best. But happyness and health is everything. Good luck and enjoy life!

Oh gosh AndiPandy that would be my worse nightmare! lol Im one of those funny ones who loves her own company once that front door is locked. Dont get me wrong I do have many friends who do come around to my home but its nice to wave them goodbye when they leave.
I know the extra money would definatly help but I couldnt do that,Im not anti social honest! lol

We have always had a garden so it is hard to advise on this one as I'm not sure I'd like to live in a flat unless it was a garden flat.

However, I think if I were in your position I would go for the flat since it would give you a reasonable amount of capital to allow you to work fewer hours and to enjoy yourself more. Also, if you were left with very little or no capital, if a significant domestic expense arose it could be very worrying.

Is there any chance of you finding a garden flat?

I’d go for the flat - but I hate gardening!

I would certainly follow my dream. Why not let one of the bedrooms on airbnb once in a while. I do that and it is not only good momey, but an interesting and social way of earning money. It also gives you the chance to “show off” your beautiful home and lovely garden. I really enjoy getting compliments and I love it when my guests feel comfortable sitting in my garden. That way you can “make your house work” for you as I put it. Being safe is not always best. But happyness and health is everything. Good luck and enjoy life!

Yes Riverwalk your right about service charges,at my old flat I paid £90 a month ,at this flat Im interested in the cost is £50 a month,still alot of money but its cheaper than my old flat.
Even the house which fell through was leasehold,Ive tried looking for freehold but there isnt any near the place I would like to live,well none that I like that is.

Dotty I live in a ground floor flat with my own private garden, plus there are communal gardens.

As you already live in a flat I don't need to remind you of annual service charges; they will eat into your savings but are offset as it includes maintenance, insurance, gardening etc.

Gagagran

I agree - go for the flat. Houses take a lot more maintenance and upkeep and you never know what is round the corner health-wise. You might be very glad you chose the flat in that case and it sound ideal anyway.

Best of both worlds - money in the bank, communal gardens, patio where you could have some pots, part time working. Sounds tailor made to me and I'd grab it before someone else does! Good Luck!

Thank you so much Gagagran xx

Hithere

Also, beware what you wish for

All my life lived in a one floor flat but eyeing a townhome as next move

Now we are in a townhome, I hate the stairs!
You forget something and have to go up and down all the time.

If you never lived in a house, I would check of your expectations are close to reality.

Im fit at the moment Hithere......dosent mean I,ll be fit in 10 years time,see all these things havent entered my head,thats why Im so pleased I asked you ladies for your opinions,thank you everyone x

I agree - go for the flat. Houses take a lot more maintenance and upkeep and you never know what is round the corner health-wise. You might be very glad you chose the flat in that case and it sound ideal anyway.

Best of both worlds - money in the bank, communal gardens, patio where you could have some pots, part time working. Sounds tailor made to me and I'd grab it before someone else does! Good Luck!

SuzieHi

I’d go for the ground floor flat- sounds perfect. Patio & communal garden. Easy to lock up and leave. Money in the bank too so you can treat yourself to time away and holidays. Houses come with much more maintenance and costs. Going part time at work sounds good too. Retire as soon as you can- even more time to please yourself

Thanks Suzie,its the "money in the bank" which is influencing me right now,maybe the house was a dream and nothing else??

Also, beware what you wish for

All my life lived in a one floor flat but eyeing a townhome as next move

Now we are in a townhome, I hate the stairs!
You forget something and have to go up and down all the time.

If you never lived in a house, I would check of your expectations are close to reality.

I’d go for the ground floor flat- sounds perfect. Patio & communal garden. Easy to lock up and leave. Money in the bank too so you can treat yourself to time away and holidays. Houses come with much more maintenance and costs. Going part time at work sounds good too. Retire as soon as you can- even more time to please yourself

Teacheranne

I moved back to my home area ten years ago and was able to be mortgage free with some money in the bank. This meant that at few years later at age 57 I was able to go part time before retiring at age 60. I have no regrets at all and I know I made the right decision.

I will be moving again in a few years, I want to buy a flat ( two bed, ground floor, large communal gardens) in a nearby large village with excellent amenities all writhing walking distance. After selling this bungalow, I will have a large sum of money left over to add the my pension pot and also to give some to my children

Youve done it the right way Teacheranne,like I have mentioned my best option is to be practical.
Ive lived in flats all my life.............so why should this be a dilema for me??

Hithere

Dotty1960

Dreams are sometimes just that, dreams.

Could you afford a house in a different area and still have financial resources to support yourself?

You dont have to give up on the house, maybe modify it a little bit?

I guess I could find a different area and buy a cheaper house but my heart is definatly in the area Ive been wanting.I have searched other areas but nothing is hitting me like the one area that I want.

I moved back to my home area ten years ago and was able to be mortgage free with some money in the bank. This meant that at few years later at age 57 I was able to go part time before retiring at age 60. I have no regrets at all and I know I made the right decision.

I will be moving again in a few years, I want to buy a flat ( two bed, ground floor, large communal gardens) in a nearby large village with excellent amenities all writhing walking distance. After selling this bungalow, I will have a large sum of money left over to add the my pension pot and also to give some to my children

Dotty1960

Dreams are sometimes just that, dreams.

Could you afford a house in a different area and still have financial resources to support yourself?

You dont have to give up on the house, maybe modify it a little bit?

wicklowwinnie

I am in the same position at the moment. I don't want to leave my detached bungalow and garden. But I know the bonus of a ground floor flat with French windows opening onto the garden would be a very sensible move. Plus, plenty of company and a social life in a communal lounge. Very important when getting older.

I did speak to 2 ladies while I was there looking at the outside(Im viewing inside this Tuesday),they were very friendly and spoke highly on why they love living there.
Im half and half right now

Shandy57

Dotty1960 I've got some money left over from my sale and feel very comforted by it - especially as I've just discovered the gutters need replacing! I think having a nest egg for maintenance/emergencies/holidays etc is worth its weight in gold.

I think I would feel comforted knowing theres emergency money put aside,Im kind of verging on to the flat at the minute but then feel sad if I dont get a house,deep down I know Ive got to be practical and not look at this through rose tinted glasses.

Dotty1960 I've got some money left over from my sale and feel very comforted by it - especially as I've just discovered the gutters need replacing! I think having a nest egg for maintenance/emergencies/holidays etc is worth its weight in gold.

Hithere

I would pick the flat.

What would happen if you are unable to work and you pick the house?

I never thought about that Hithere!
I know I will get my pension money in 3 years time but its still 3 years away. Im on my own so I only have my own income

I would pick the flat.

What would happen if you are unable to work and you pick the house?

I am in the same position at the moment. I don't want to leave my detached bungalow and garden. But I know the bonus of a ground floor flat with French windows opening onto the garden would be a very sensible move. Plus, plenty of company and a social life in a communal lounge. Very important when getting older.

Thank for your opinions so far ladies,to be honest I think its the amount of money I would have over if I chose the flat which is being the big influencer right now(plus the thought of not working full time anymore)
My friend said "do you want to live in a lovely home and not affording to leave the house.or do you want to live in a flat knowing you can take yourself off and have lots of little treats and little holidays",I just cant answer that one yet?

Oh, in that case I’d probably go for the flat. You could stay there till the end?

The communal garden wouldn’t know what hit it?

I’d stick with the dream & go for a house, every time. You may be lucky and find one that suits your budget if you give it a little more time - but not too much more as rent is eating into what you have to spend on a house.