GRANNY ANNEX

You need to protect your future should your son predecease you.

The contents of his will could cause you all kinds of problems.

Marysunshine whatever planning regulations are in relation to doing up an existing building and whether your caravan is mobile or not, if the intention is for you to have the structure, mobile or not, as your permanent home that puts a very different slant on what you plan. You will need planning permission, you certainly will not be allowed a separate entrance (I assume you mean, car access or footpath). Your plan is fraught with problems.

I am definite on this because our next door neighbour is trying to do exactly the same thing - turn a run-down implement shed into a bungalow for, in his case, his daughter and family to use when visiting from the USA. The outside of his building will be unchanged, no extension or anything. He is in the fifth year of trying to find a solution that satisfies council and neighbours. He cannot have a separate foot or vehicle entrance for the property, he cannot have a chimney. The objections from neighbours and so on have been endless.

Then there are all the problems that would arise if you went into care and needed to release the funds you have invested in the property to pay for care.

To give a simple example. You sell your house for £200,000 and buy the property you both intend to live in and your son gives £100,000 towards your costs. If you go into care, the council will investigate your circumstances and will see that you spent £200,000 for the property and your son only paid you £100,000 and they will assess you as still having assets of £100,000 invested in the property. Either your son would have to sell the house when you went into care to pay for it, or they will put a charge on the property and he will have to stump up the £100,000 plus interest when you die.

I am afraid I wouldn't consider doing what you intend to do, in a hundred years.

Elderly neighbour did this with daughter and son in law and 2 grandchildren. She was used for free babysitter, children were always on her floor and eventually the husband
ripped her off and she ended up losing out after she found out he was hurting her daughter. The daughter is now happy with new partner but she lost out big style.

Could you be happy in your son's flat? Is it in a suitable area? Would he consider continuing to pay the mortgage (or equivalent mortgage on your house)?
My aunt simply did a swap with a young family she was fond of! She lost out financially but ended up in a more suitable home (as did they) and it was done relatively easily apparently.

pamgeo sorry - just noticed you have suggested similar.

Thankyou all for your continuing messages and thoughts here. It has really opened my eyes up to some things I had not thought about as well as reinforcing some of the concerns I already had .. ie the long term future and not knowing what care I may need or not need... I hadnt even thought about the will side of things!!
But so far all we have done is discuss this together because we saw a house that possibly would be suitable.

Pamgeo & not Spaghetti I would not swap homes with my son although he once did ask me if I would. He lives an hour away and in the city. I have my work, my friends and a good social life all in this area, as well as living on the edge of the forest. It would not work for me .. But thankyou for for the thought..

Try not to worry over this Marysunshine, you are happy right now and it is only a thought. Step back if you can and enjoy your life while trying not to think about your sons future, which is down to him and whatever future partner he might choose. You are working, so are much younger than me and others. Health and fitness do deteriorate sneakily over time, none of us thought we would have to adapt to being older but it is the march of time. Your thought was very kind but now is exactly the time when you should be thinking about your own future, your security, your safety and your comfort

You mention a few times about you may needing care in the future Do you seriously want your son to be bogged down as your carer surely he needs to be free as a bird to get on with his life not bogged down worrying about his mum in his garden
Let him live his life and if you need care get it from outside your family it just isn’t fair on him and (maybe) a future wife or partner to be so close He’s got no siblings to share the job with be independent for his sake

Thankyou Craftyone. As we grow older and start thinking about our tomorrows there is always the worry of future health and fitness. Although I am independent now, and reasonably fit and able, I am already starting to restrict myself with the driving after dark, and over the past year I have been looking at different avenues for my move to be on a bus route and nearer to a town. I would be very isolated in this village if I could not get out with my friends.
Financially I have very little choice in where I move to if I am to stay near by. Joining up with my son, who needs to move back to this area, seemed like an ideal solution and an opportunity for me to reduce my working to part time.
My biggest worry is the not-knowing about the future, mine and his.. Ohh if only I had a crystal ball!!

Bluebelle No not at all! I have no wish for my son to be a carer for me. I wouldnt want that at all and neither would he. I couldnt think of a worse carer to have tbh!! I think I may have put this over in the wrong way, but really what I meant was it would be nice to have someone there for the odd DIY or to run me somewhere etc if I can no longer drive. I have no other expectations. At the moment my son is more dependant on me than I am on him and I hope it stays that way for a long time
However, should we join up I would be giving my son everything I have worked for all my life and financially he would be willing to take on most of my bills connected to the home.

Some retirement flat developments offer flats to let as well as buy. You could then have the whole value of your house in your savings. The downside of this is that having a very large sum in savings may disbar you from receiving some benefits that a low income from job or pension entitles you to.

Yes M0nica This is something I have also thought about for my future. It is quite popular in a couple of the surrounding towns and villages not to far from here.
It was also in the back of mind that I could have my name on a list as a safety barrier should anything go wrong if I went in with my son..

Through examples left on here by the kind Gransnetters I have a much clearer list of pros and cons from my original question.
Next step for me to get some legal advise
Thankyou everyone for your input here