Downsizing

Downsizing, unless it’s for financial purposes is also a state of mind, if you love your house and can afford to stay in it, then set up an account with a Gardening Company, they will come every week or monthly and do your garden, they will turn up even if the weather is bad.
If you need to overhaul your finances and downsize there are some GNers who are in apartments and love them, I’m sure they will be on this thread very soon.
Sometimes downsizing is also about being closer to shops, Doctors and other facilities, if you need to get closer to amenities then maybe start looking in earnest for something smaller, it might take a while, but I’m sure there will be something out there for you. Good luck.

I was about to do what you are thinking of doing. Like you, I have a lovely home /garden. I found the most amazing apartment. Had the estate agent to value my house. Everything was put in place for selling my house, just needed my approval for the beautifully presented brochure of my home. At that point I realised that I just couldn't let my home go to someone else. I would miss my garden, although I need help with it now, like yourself. Buying and selling costs around £24,000. Apartments mostly are Leasehold, so there's ground rent to be paid. Around £400-500 annually. Maintenance charges are around £1500 annually. I'm talking about private apartments, not 'Retirement' apartments. The annual charges for those are much higher and they can be difficult to sell.
My conclusion was that it is better for me to stay where I am, close to my friends. I can use the money that would go on the above expenses to pay for help /changes in house and garden. I shall be 80 at my next birthday. Good luck with whatever you decide. But I can tell you that it's a very stressful process if you do decide to move. But there are people on GN who have done it and are happy.

Ground rents and service charges vary enormously. For instance in London my son only pays £50 ground rent but around £4000 service charge each year.

My friend recently did this, she's still getting used to a smaller home, but released a considerable sum to get this smaller home perfect for them.

We too are planning the same in about 3 years.
Our house is a big family home, it needs a young family enjoying it just like we did
It will be too big for us in the future and keep well maintained.
My parents did it in there late 60's it was a wise move.
Good luck in what ever you do.

try and find a self-managed complex, where the leaseholders have combined to buy the freehold

I think if you are going to downsize it needs doing sooner, when the family have left home, say in your 50s. Prepare for retirement, more travel, less garden, ultimately being less mobile.

I have been thinking about downsizing as well. My house is fairly big (4beds) but garden is small. Gas and Electricity costs are getting higher and higher.
BUT working out the financial aspect…..it costs roughly £30000 to sell and buy…..EA Fees, Solicitors fees, moving costs etc etc. if you like living where you are, have established friends etc, I feel it’s best to stay put. The above mentioned costs will pay for all future Energy Bills and above all the upheaval of moving. As someone mentioned, better to move earlier than later. Good luck !

I downsized when I was 62 years of age, from our Edwardian family house, to a delightful 1930' s terraced house. As far as I was concerned that would be my last move. I was still working, and spent the next few years, very happily having that house changed over to being everything I wanted (at that stage in my life). This included to having loft done out as bedroom/playroom for increasing number of g.children.

By my late 70's, the realisation came that, although I really loved the house and used nearly all of it most of the time, it was not the best living solution for me. Considered stair-lift - (a) do not like look of them and (b) not really the answer. No room to put a 'through the ceiling lift'.

I would also say that I did have conscience qualms about living - just me - in a house that would be wonderful for a family.

Personal events then took place, which meant I had really to consider moving.

Difficult 6-9 months with selling and buying - but finally successful and I moved into a first floor flat. This is very large, and, in fact, my Living/Dining Room has more space than the one I had in my through lounge in the house. Main bedroom is also very big with nice en-suite. No garden (so not having to pay for a gardener), but a large, walled balcony - which gives me all the facilities I required for potted plants, garden chairs and tables. My own Patio, which is really all I used in the house garden.

Wonderful feeling of security - and it does not matter that I leave windows open when I go out. Buses stop outside these flats - I have now given up my car - so garage here is a very large and useful storage area. These flats are close to town centre, which means that that meetings of such things as u3a groups are all within 10-15 minutes on my mobility scooter. Close by to Park, High Street, Theatre, Cinema, Library, Beach.

Love living on one level. Not having to worry about going up and down stairs - particularly any times I am not feeling too well, kitchen is just over the (wide) hallway to my bedroom, Living room is next door.

My ground rent is one pound a year (which is actually incorporated into the Maintenance charge which is £1400 p.a.) Kept low as we do not have a professional Maintenance Company, and the people here run it ourselves with a volunteer committee (and I am happily ensconced on that as Secretary now)- giving me an interest, a feeling of doing something, and also enabling me really to get me know the other people in the flats.

I was probably spending more on maintenance at my house each year - particularly as the charge here also included all water costs, and a 24/7 contract for each flat with British Gas for central heating/boiler, etc.

I feel that I have added, at least, ten years to my life expectancy since moving here, am so very happy and relaxed, and enjoying life.

Should I have made this move to a flat earlier? No!! I think that most of us really know when we are ready for that. At 65 or even 70 years old I would have hated the idea - but now, almost daily, I thank my lucky stars that I have done so and found the ideal flat for me.

Such a move does need a lot of time taken. Research the area to which are considering moving. Do make long and accurate lists of what is important to you. And try to 'future proof' as far as possible, accepting the fact that for most of us growing older does mean more mobility problems, etc. etc.

Check out local hospitals, GP services, shops, public transport, pharmacists, opticians, etc. etc. That 'place in that country' village may look brilliant in tv, but is totally an impracticable place to live if you cannot or do not drive, etc.

So Allsorts and Aldom I have to say to you - that the actual selling/buying experience is going to be difficult and stressful - BUT the final outcome can be as wonderfully successful as mine has been.

TBH, I am not even sure that I have actually 'downsized', Yes obviously have less rooms here than I had in the house - BUT as the room here is more practicable for me, I have actually purchased MORE furniture for it.

I love my home and it’s huge gardens. I know that I won’t be able to manage it in the future so I am trying to simplify it. Hopefully I will be able to get someone in to cut the grass etc, but I won’t move unless I feel it is right for me. Good luck.

I 'downsized' last December to a 2 bed ground floor flat in a courtyard development. I really had no choice as our 150 yo 'family home' had become too expensive to maintain and fuel bills and Council Tax were beyond my means. Also my huge fruit/veg garden had got out of control and I could not afford to employ gardeners. The new owners have already spent £1000s changing the house e,g. white plastic window frames!!! such that it is no longer 'My Home' as I knew it.

The new modern flat cost me almost exactly half of the amount I got for the old house, so I now have a nest egg. In addition Council Tax, Insurance and fuel bills have been halved. There is a communal garden which is maintained to a high standard by some of the residents who enjoy gardening (including me on a small scale). The neighbours are friendly and apart from one loud barking dog no issues.

Of course I miss our old home which we bought as semi-derelict and brought back to life, raised our family, etc. I have 50 years of happy memories of living there but 'those days are past now' - I am a widow, but fortunate to have DDs and DGC living nearby. I see my life as 1 quarter growing up, 2 quarters as a very happy family and this - the last quarter - as 'Me Time' when I can do exactly as I please with no big responsibilities and a bit of money in the bank. All Good, though the processes of buying/selling/moving was a nightmare best forgotten.

CrazyH £30000 to sell and buy sounds a phenomenally high amount. I've moved 13 times and even allowing for inflation have never spent anywhere near that. Estate agents fees are about 1 - 3%, Solicitors fees never more than £4,000...moving costs a few thousand. Stamp duty is of course variable but related to the value of your home. I think the most I've ever spent was £12,000 on a move.

It all depends on the part of the country you live in. We had looked at downsizing but decided, due to property prices here which are ridiculous, that it would take much of our savings. Also, in our present home we are near everything ,GP Surgery, hospital, library, cinema and our family and friends. Why would we move? We are probably just going to adapt the house. There are assisted living apartments here, all in the middle of nowhere, with scant bus service and seem isolated to me. The other alternative is a flat, but stuck in the middle of an estate where you have miles to walk to a local shop. There are flats/houses which are, quite frankly, not worth the money. Certain retirement flats/houses the family have no end of trouble selling, when the older person has died. I think you need to get a piece of paper and draw up a list of pros and cons for moving. This way, it gets you thinking about what you need. As you get older transport, doctors and being near shops, family, friends is important. I think many older people have the impression they will be able to drive forever, sadly, not always the case and you cannot depend on others to drive you places. You have to factor in redecoration, new carpets, furniture etc, not just moving costs and solicitors fees.Good luck in whatever you decide to do.

Coastpath

CrazyH £30000 to sell and buy sounds a phenomenally high amount. I've moved 13 times and even allowing for inflation have never spent anywhere near that. Estate agents fees are about 1 - 3%, Solicitors fees never more than £4,000...moving costs a few thousand. Stamp duty is of course variable but related to the value of your home. I think the most I've ever spent was £12,000 on a move.

That's about what we were quoted as the total cost of moving (C£29,000) the other week..

I think that excluded the actual cost of the removal itself.
What with that and spending about £50,000 on the one bungalow we've seen that was halfway decent and in a good location, it seemed better to stay put and pay for help when needed.!

That did include estate agents' fees if we used them.

Katie59

I think if you are going to downsize it needs doing sooner, when the family have left home, say in your 50s. Prepare for retirement, more travel, less garden, ultimately being less mobile.

Yes ?
However, due to circumstances it wasn't possible then

Yes, everyone's circumstances are different, as are house prices depending on where in the country you live. We decided to stay put, as moving would wipe out most of our savings and we have everything we need to hand. Good luck to everyone here facing the dilemma of moving/staying.

My advice would be to do it when you can be bothered by the hassle. Make sure you are near amenities, Drs, and dentists. etc. and somewhere you can safely go out for a walk.
Friends who have moved into flats have found they soon adapted. Some have rooms that can be let when relatives visit others are near a Premier Inn.
If they are retirement flats see if there is a communal dining room you can choose to use if you want. If outings are arranged and Christmas etc. events you can choose to join in. Also, one friend chose a second floor flat for security and the sea view she has a balcony and a communal garden.
She has even found herself a man for outings to the Theatre!!!!
Good Luck

Thank you so much for your excellent advise. The main problem is staying in the area I have my life and not moving miles to be with my only family. I feel very guilty as they say it’s going to make life difficult for them if I am taken ill. It just seems that I will only know them if I move closer, I will be a bit isolated as they work,

Allsorts don’t move because of family making you feel guilty, if you are unwell you need friends around you, if your family work they won’t be around to look after you anyway.

Stay where you love to live. Some on GN have moved closer to
family and have regretted it so much.

Allsorts - moving nearer your family could give you the opportunity of making new friends and starting new interests.

When I moved to my flat - it was 150 miles away from where I had always lived (on the London/Essex borders). All my friends and interests were in London - it was a leap of faith for me.

Actually, I found it quite refreshing that I moved to an area where nobody knew me (I do have one daughter living there - she is at work). BUT.....the town I moved into has a large u3a. Joined that - and have never looked back for interests and things to do.

There is also a very active WI - but do not have time for any more activities. Moving somewhere else gives you the opportunity of tidying up your own personal, decluttering that as well as your possessions.

Not knowing anyone in an area is the worst possible reason NOT to move. So, as well as checking on all the amenities that I listed in my earlier post, also look into local interest groups.

I was 78 years old when I made that final move - four months after I moved here everything was forced to close due to Covid, and I was not permitted to have friends/family come to stay or for me to visit them. BUT.....even with that dreadful year or two, I have found an active and enjoyable life in my new hometown.

It would be so lovely to be close to your family as well as giving them a sense of relief of having you relatively close by. A once in a lifetime chance to make a new home and a new life. Go for it.......

I have 2 perspectives on this, one as a daughter and one as a retiree.
My dad was ill when he retired at 60, and my siblings and I 'encouraged' our parents to downsize. Foremost in our minds was widowed mum rattling around in a house which 5 people had filled would not be good for her, particularly when she got older. This worked out well.

I moved area, into a converted house 5 or 6 years before I retired, replacing kitchen etc. Each flat owns part of the freehold. We share maintenance costs. Each has a small outside space. So far this has worked out well too.