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LucyGransnet (GNHQ) Thu 21-Apr-16 12:03:35

Forget downsizing... What we really want is 'rightsizing'

Does the word 'downsizing' put you off moving to a smaller house? Tony Watts argues that the nation needs to rethink its approach when it comes to freeing up houses for younger generations.

Tony Watts OBE

Forget downsizing... What we really want is 'rightsizing'

Posted on: Thu 21-Apr-16 12:03:35

(43 comments )

Lead photo

Does 'rightsizing' sound more appealing?

If you missed last autumn's screaming headlines in the Daily Mail let me remind you: "Anger as watchdog tells OAPs to downsize to tackle housing shortage". Not surprisingly, the headlines don't tell half the story. But when have facts ever got in the way of a good headline?

What was actually said by Lynda Blackwell, Mortgage Sector Manager of the Financial Conduct Authority was this: "Does there need to be thought given to how we build more appropriate housing for retired people in the right places."

Most of us would agree: the housing market in this country is broken, with too few new starts, rents soaring and a large chunk of the younger generation priced out of ownership.

So how can the nation's older generation help? After all, they are regularly portrayed as the golden generation, sitting on over a trillion pounds worth of assets, blocking the hopes and dreams of younger people.

Not surprisingly, in a recent survey of subscribers to a retirement site, one third listed downsizing as one of their planned future options in order to release an average of 33% of its value: a sizeable amount. So, the will is there.

The problem is that not only are precious few new 'retirement housing' units being built for the private sector (less than 2,000 in 2014, expected to top 4,000 in 2015), but not everyone wants to live in a retirement complex anyway.

So how can the nation's older generation help? After all, they are regularly portrayed as the golden generation, sitting on over a trillion pounds worth of assets, blocking the hopes and dreams of younger people.


Last year, I ran a housing workshop with older people in Yorkshire; here are just a few of the top line observations from a very knowledgeable group of people.

- Many of us want to remain local to our existing communities and support network

- All homes should be built to lifetime standards that allows them to continue to be used by everyone when their mobility reduces and so age in place

- Housing isn't just about bricks and mortar – but communities. We need to design communities, places, not just new houses

- We don't want to live in shoeboxes… We need two bedrooms, we may want access to a garden and we often want to keep our pets

- We need more choice to rent privately as well as part own

-Our homes are our key capital asset, but we need more choice on how we tap into that asset to enjoy a more comfortable retirement.

Against this backdrop, downsizing sounds so negative: couldn't we describe it as 'rightsizing' and make it aspirational?

If we are going to live for much longer than ever before, we need to prepare. Not only do we need age friendly housing, that we can stay in and remain independent, but communities should be age friendly too…places where we can get about easily and safely: surely we have allowed cars to reign for too long in our towns, villages and cities.

One of the main points made by the Yorkshire discussion was the need for a greater choice of financial options – not least to those wanting to remain in their own home and repair/refurbish it, or to move to a part ownership property and release funds.

Disinterested expert guidance on an individual's finances after any move is also essential: how much you can afford to spend and/or release – and still have a comfortable retirement and/or put aside capital to pay for any care in years to come.

For most of us, our home is our key capital asset, locking away vast sums of money. Arguably, the British preoccupation with home ownership does not necessarily benefit the economy – tellingly, Germany and Switzerland have far lower rates of home ownership than us.

But that's the subject for another day…

Tony Watts, OBE is Chairman of the South West Forum on Ageing, one of nine English Forums on Ageing that help share the views, knowledge and experience of older people with Government departments (local and national), public service providers and some private sector organisations too.

By Tony Watts OBE

Twitter: @Gransnet

Gracesgran Fri 22-Apr-16 16:37:07

You hear quite a bit about how the legal system over here is very different to France and Germany (?) and how this affects families and young people but I think there will be a group of older people for whom renting could work so that they take out the capital and live on it - but they need to know they could stay there.

You certainly could get modifications done Anya - it depended on income but my mother had a wet room put in to replace the bath. She paid for a bit of tiling which they didn't consider essential but that was all. I said I was surprised and they told me that if she stayed in the bungalow for four years they were then saving in a big way. This was eight or nine years ago so well worth while smile I just wonder if she would get it done now sad

elleks Sat 23-Apr-16 09:23:50

We're hoping the council will fit a stair lift (we own, with a mortgage) as my husband is epileptic, and has great trouble with stairs before and after a seizure.

Solazure Sat 23-Apr-16 10:09:09

We are thinking of down sizing but it does not bother me. I worked with the elderly before I retired and many having their homes taken away to fund care fees. We are moving into hopefully age related homes. I do live abroad so we have lots of sun so the smaller place does not bother me. sunshine

Venus Sun 24-Apr-16 09:30:29

We have a large house and have been looking for some time to downsize. I would like a spacious bungalow, but most of them are at the same price as my house. The idea is to sell our house and have some money left over. The house eats up a lot of money and we have taken a small equity release to help with that.

The only solution, as I see it, is to move further out where property prices are more affordable, but that takes us further away from our immediate family. All they are building in this area are luxury flates at ridiculous prices or large family homes.

We seem to be the invisible generation!

lizzypopbottle Sun 24-Apr-16 10:00:23

As far as I'm concerned, my house is mine, paid for by my and my late husband's hard work and sacrifice, and I'll decide whether I stay or move. I feel absolutely no obligation to make way for anyone else. What a cheek!

Bellasnana Sun 24-Apr-16 10:22:26

We lived in our family home for almost thirty years. It was very spacious with a big garden and swimming pool so needed a lot of maintenance which DH used to relish doing.

When two of our four children moved to the US, and we retired from running a busy restaurant, we sold both house and restaurant and moved to what we thought was a step down in size. However, it was a typical Maltese farmhouse over three hundred years old, and although we didn't have such a lot of outdoor space, the inside was a lot of work. Very dusty from the stone walls, and a lot of stairs. When DH became ill, I felt sorry for him having to be carried up and down the stairs which could not have had a stair lift as there were too many different levels.

When DH died it was just DD3 and myself left and the house felt too big for us, so we have recently sold it and this time we are really downsizing!

I bought a brand new maisonette, three bedrooms, big open plan kitchen/living, two bathrooms, a small terrace at the front and a big one at the back, plus a garage underneath. It is not yet quite ready to move into, but I think it is going to suit us very well and will be a lot more practical than trying to cope with a big place, lovely as it was.

People have asked me am I sad to leave the old one but really I am not. It is a relief to pass it on to a very nice family from South Africa who I hope will enjoy it as much as we did.

Your memories are with you no matter where you live, it's just a question of adapting to circumstances. In my case, very unwelcome circumstances, but life goes on.

Witzend Sun 24-Apr-16 14:06:56

Aside from the often huge service charges, purpose built retirement flats can be an absolute b*gger to sell, which can be a real headache if you later need to, for care home fees.
I looked at several such flats with my mother, quite a long time ago now - they all seemed very small and poky, and I was glad she decided to stay in her small but perfectly manageable house until she had to go into a care home at 89, because of dementia.

Re bungalows, BTW, my parents moved into one in their mid-ish 60s, not because they particularly wanted a bungalow, but because it was all they could find in the area they had chosen.
However, after only a couple of years they decide that they didn't like the area after all, and moved again, to a house. They said they really noticed how their fitness had decreased through not having stairs - having been used to the bungalow they found them tiring at first.
However, many years later my mother was still well able to manage stairs at 89, before she moved into the care home. I know she was lucky in not having mobility problems, though.

claireseptember Mon 25-Apr-16 13:50:43

Agree with wits end about stairs ( tried to type your name properly, w end but it got corrected to wizened, which I'm sure is inaccurate). Am downsizing for several reasons but have chosen a house over a bungalow in order to have a proper stairs workout!
Really interested in this thread and would love to hear from others who have downsiZed . I am absolutely terrified of my decision but living alone in a huge four bedroomed house that I can't maintain since dh died and my kids are grown up.
Moving to a two bedroomed house that's a kind of mini version of this one (that's my comfort) and not far away, but have SO much stuff to get rid of and so many decisions to make that really I just want to put my head under the duvet and for it all to go away.
Any encouraging noises would be greatly appreciated!

Gracesgran Mon 25-Apr-16 14:35:27

Can I say thank you to everyone who has contributed to this thread. It has been really useful and helped me sort out what I will move to when I do. Perhaps more negatives but that helps to limit the properties to look at. For me - certainly not a leased retirement flat shock and, like Witzend and claireseptember I will include houses in what I look at as long as I am sure a stairlift can be fitted if needed later. I would really like not to move again!

grannylyn65 Fri 12-Aug-16 16:56:23

If I downsize t'would be a rabbit hutch!!

Stansgran Fri 12-Aug-16 17:58:57

I had a touch of house envy when we visited some new friends- spacious entrance hall ,wide staircase, downstairs cloakroom in which you could swing a large cat,pleasant morning room and flat garden. Which describes what my house is not. DH pointed out that our house( forty years here)is about the size most people downsize to. Added to which I'm convinced the house hates me. So he will not move.

Welshwife Fri 12-Aug-16 18:51:35

I so agree that when retired people do not want a really small house especially if there are two of you. You spend so much more time in the house you need more space to have a bit of variety. I think ideally I would like three bedrooms - one could be quite small but fitted out for storage of all the things you would normally put in the loft - saving the scramble up strange stairs from time to time! I would also like two rooms at least down stairs so that one could be a study/workroom type of place but with the possibility of being used as a bedroom on a temporary or permanent basis if someone was ill/disabled in some way. Also to have a bathroom with a walk in shower for the same reason and big enough to accommodate a seat. The kitchen would need to be large enough - and a garage or shed would be necessary for Mr Welsh! A garden nicely sized without too much work would complete it all.
The location would be great if it was within walking distance of a good bus route or a small shopping centre with maybe a doctor's surgery - do you think pigs are likely to start flying soon? grin

Jalima Fri 12-Aug-16 19:33:51

Sorry to be negative. I need the sunshine

I think I feel the same obieone
which is what we did today.

DH reminds me that our (now deceased) lovely neighbours downsized to a house the same as ours many years ago (although we have added a couple of bits to ours, both of which I could not do without - a utility room and a conservatory).
We have family coming to stay at the weekend, how would we manage in a 2 bedroomed bungalow?

Perhaps in a year or two if I can persuade DH.

rubylady I wouldn't mind a bungalow with a loft conversion - in fact I would quite like one because upstairs could be kept for family or other guests when they visit, just requiring a quick dust before they arrive!
And a good sort out when they have left ready for the next lot.

J52 Fri 12-Aug-16 19:44:02

We down sized to a three bed roomed house with a cosy sitting room, large dining room and beautiful kitchen. Although the house is quite old it has been completely refurbished. It's large enough for us to 'avoid each other' but has really cut down on the house work. As our DSs live locally we only need one spare room and an office.

I feel we have right sized.

Jalima Fri 12-Aug-16 19:45:14

If there was something suitable I could be tempted - however, I have just had a look online at what may be suitable - and they seem to be sold before or as soon as they hit the market.

We are not hogging our larger homes - there is just nothing available which we could move to.
I believe John Prescott discouraged the building of bungalows when he was DPM - very short-sighted.

J52 Fri 12-Aug-16 19:51:39

JalimaI agree it is difficult to find a suitable property, everything we looked at seemed too small, in comparison. Gradually we were creeping up to the same size again!
We sold first, so that took our previous house out of the comparison picture!

We did have to compromise on the downstairs loo (DH is working on where to put one) and we have a larger garden, but the location and style of house suits us perfectly.
Keep looking, it's out there.

Jalima Fri 12-Aug-16 19:54:17

A dearth of bungalows around here unfortunately.

Willow500 Sat 13-Aug-16 06:22:07

Revisiting this thread 3 months on having had our house of 30 years up for sale with no takers we have spent hours and hours driving round areas trying to find somewhere we want to move to. We have no family ties here at all any more. Whilst we've not looked at property for sale (no point until we've sold) we've looked at so many new builds we've lost count but have come to the conclusion we will stay in the area we know, won't buy somewhere that has no shops for miles and also no community around it. The time obviously isn't right for us to go yet - I'm sure something just right will present itself when it is but it definitely won't be downsizing - rightsizing is the way to go smile

PamelaJ1 Sat 13-Aug-16 08:10:25

We love our bungalow.
It's round the corner from a bus stop for when we can't drive.
Big, private, but mostly lawned garden so not too much work, just sit on the mower.
Leylandii hedge all round is the nightmare.
BUT we have a mortgage that comes to an end in 2years and we are not sure how to pay it.
We bought a buy to let with the intention of selling that to pay off the debt, however 7 years ago my daughter moved in (for about 6months!) and is still there with her DH and ourDGS. They don't earn much , both on living wage, they were both on zero hours till recently so can't get a mortgage, other properties are much more expensive , well they would be - mum and dad don't own them.
Do we evict them? We have been warning them for years that it couldn't last forever but neither of them is the type ' to make things happen' so here we are. We have offered to give them a big deposit but although I contacted an advisor and gave them the forms to fill in 2 months ago they haven't got round to it yet!
DD husband left her for 18 months when she was 7 months pregnant and we don't have the best relationship with him (we try) she's a little sensitive about it.
We can't ask them to leave can we? I don't want to live in a tiny retirement bungalow at the moment.
We have talked to the mortgage provider about extending the mortgage for a few years bit they won't discuss it until 3 months before the due date. That's helpful isn't it?
Sorry about this epistle but I feel better for seeing it written down.