Views on Selling Up and Moving?

Hello Connie, are you moving because you might find it difficult to manage in future. ( you could get help in)

Do you have friends / neighbours where you are that you woukd miss.( friends can be hard to find in our later years, though not necessarily ) Do you have someone to talk to about this as it’s hard to advise without knowing more.

If you decide you want a change then buying a flat closer to London should be manageable cost wise if you are looking 25 miles outside. I live about 15 miles south of central London, it still takes nearly an hour on the train because we don’t have the underground nearby.
Moving house is stressful but could be an adventure too, so if you want to go now is the time.
I wish you well .

I hope you get some helpful replies here Connie16. I’m sure there are a number of GNs who rent and a few who own rentals.

I’ve no experience of renting, but do own a house I rent out. Hand on heart, I’m the perfect Landlord - I’ve only had a few tenants in 15 years and never had any problems with them paying (except during Covid) and they’ve all moved on for their own reasons, without any hassle. I’ve told every tenant to consider the house their own, I don’t really do inspections and some have actually improved it - the current chap has just re-done the garden! On the other hand, I’ve jumped through hoops when any issue has arisen - even an extortionate charge for a plumber one August Bank Holiday!

On the other hand - my friend’s son has given his tenant a month’s notice as he intends to sell that property. Similarly, DD1 rented out her old house, but was fortunate that when she wanted to sell it, her tenant bought it.

I think the uncertainty of renting would bother me. Every year when the rental agreement comes up for renewal, I’m always able to reassure my tenant that I have no intentions of selling.

Renting sounds like a good idea if you have the finances available for a flat near London.
You may as well use the money you will get from your house for yourself if their is nobody to leave it to.
Good luck. Hope it works out well for you.

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What are the rents in the area you want to move to? That close to London I would reckon on a minimum of 20,000 a year. Covered by the proceeds of the sale? At 76 that’s a viable option.

Just out of interest, why do you want to be closer to London?

Hi Connie, you do what you think is ideal for you. I personally would downsize, and bank a bit more money for my needs, just make a will out so someone or something benefits from anything you leave, then enjoy life. I on the other hand would be heading away from the city, and the chaos it brings. With mass hoards of people, comes social problems. Police sirens, overhead helicopters. Unsociable scroats of society. Living in the city I feel Im in a mad max movie. Thank goodness there are pockets of England, where time slows down people talk and not grunt, and the night time sound of silence can be a joy to hear. My experience of living in the city is one I want to run from and head for a small town on the east coast, which funnily enough as ex-Londoners retired to for the peace and friendliness it offers Good luck in your choices, and be happy!

In principle, I think renting os very sensible, if you have no one you want to benefit from your estate.

My one concern would be what would happen if the money ran out. You can certainly get Housing Benefit, but Housing Benefit is based on you occupying accommodation considered rightsized for your household size and at the going rate for a fairly basic home.So, if you were renting a nice 3 bedroomed flat in a really good are, you benefit might be based on the rent for a 1 bedroomed flat in a less exclusive area a mile away.

Have you checked what the rent is for the kind of accommodation you would like to rent in the area you prefer?

They were saying on the news the other day that renters were finding it harder and harder to get properties especially in the London area as landlords were increasingly selling up, how would you feel in a few years time being given notice to quit and have to go through that another time, unless of course you were thinking of an apartment in an over 55 type complex? These can sometimes have high charges, but include some of the utility charges and you would be in a community of people of a similar age group.

I have to ask why London, too?

You say where you live is 'mostly' rural. I take it you are thinking of more amenities, services etc which we all need close by as we get older.

London is a huge place and I'm sure has nice areas like the one you ar elooking for but these will be expensive and you don't want your money to run out.

I suggest you do a little more homework- look at some smaller towns which may be cheaper, and friendlier with good services too.

You seem to be doing a sensible thing, but I would take time to look elsewhere, maybe go and stay near where you want to be and pick up on the vibe.

I wouldn't be surprised if there isn't some kind of web-site or advisory service around that could help you find the place you are looking for, but I do wish you well whatever you decide.

I live about 11 miles from the capital and around 5 miles from Heathrow. It is like living in the middle of the countryside, it is so quiet here. Luckily, I'm not on the direct flight path.

I no longer drive (3 weeks!) so I would like to be closer to a bus stop.

You would want to be near amenities so a one bedroom flat would start at £1800. I would always be thinking that the owner might sell or I might run out of money, which is why I prefer to own my property.

It is a difficult decision.

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Surely, why the OP wants to move closer to London is none of our business. All she wants advice on is whether she should sell her house and rent instead.

What lovely thoughtful replies to my quandary – thank you everyone for your views and suggestions, I really appreciate it.

To answer some queries, I was born and brought up in the London/Herts area and lived and worked in London all my life, until my job relocated 20 years ago. I loved my job and was offered a generous relocation package so decided to make the move. Where I live now is very pretty and peaceful, nice sense of community, country walks, lots of things to do locally etc. Large cities aren’t far away, eg Oxford, Cambridge etc. But I do have this strange hankering to return to the area I came from, or nearby, I don’t know why. It’s not that I’m unhappy here but I often visit the area I’m interested in (25 miles north of London) as it’s an area I know well from the past and always feel I’d like to live there (it feels more ‘me’). I like the buzz of the area which isn’t too overwhelming, as well as the historic environment. But it’s pricey and a one-bedroom flat in a good area there would cost roughly the same as my current 3 bed (small) house.

So I began think about renting as an option. But, but, but…I am a very cautious person. I agree with those who have brought up the issue of uncertainty of tenancy as well as how long my money would last, and they’re the main reasons I hesitate. I do highly value my current security.

Yes, I do have concerns as I move towards my 80’s about managing in future and while I know there are no guarantees, my Mum lived to 102! Thank you again for your helpful responses and suggestions which are so useful in helping me reflect on what I value and what my next ‘chapter’ should be.

You sound really nice, and good luck with whatever you decide. My thoughts for what they're worth having moved away from London with few regrets. Renting has become overly expensive all over outer London into the home counties, personally I wouldn't consider it even though, I'm sure no doubt you would be a perfect tenant. There are too many people chasing too few properties I think renting will eat away into your money at an alarming rate. Also you can never be sure of your landlords plans as to keeping the property or selling up, chasing a suitable home in such a scenario could become exhausting in the future. I own a 2 bedroomed purpose built flat in the outer reaches of Surrey a few minutes walk from a nice town with lots of amenities. Rents have practically doubled in the last 10 years and once tenants could pick and choose from an array of properties, now they are scant. I'm constantly being rung by letting agents asking whether it will be coming back on the market anytime soon, they have scant amount of properties for letting these days.I do let mine below the market price. My tenants are leaving soon, we intend to sell up at that time. Another thing to consider, with flats at any rate, the management company often advise of door slamming and disturbances at un social hours. The transient nature of "some", not all,who rent would appear they are not as invested in having good relations with their neighbours. I only say that based on the discussions I've had with a couple of the owner/occupiers in the block where the flat is.

I wish you well. I also moved back to where I grew up a few years ago. Although for the opposite reason- housing is very cheap here!

I love living here and have never regretted my decision, although some people thought I was crazy as it has a reputation. They were wrong, I have never felt safer than I feel here so I say go with your instincts and trust your own judgement!

Thank you for replying to my query why you wanted to move. I’m sorry if it was impertinent 😳

I was wondering if you were moving because of travel time into London because when I moved out I found the fast train to the centre from 60 mikes away was quicker than the tube from the suburbs!

But I totally understand that feeling of ‘belonging” somewhere. Would you consider a retirement flat? I know the charges can often seem high but they often sell very cheaply because of that.

Around here it’s possible to buy one for well under £100,000 because people worry about difficulties of resale and ongoing charges after their death - but that would not be a worry for you and it would give you security of ownership and extra support as you get older.

Just a thought.

St Albans - around 150,000

Letchworth/Welling slightly cheaper

🙂

As a person who grew up in outer North London, near the end of the Northern Line underground, I could no longer afford to live there, the cost of any property now being so eye-wateringly expensive. I now live on the Bucks/ Beds border and, if I need a cultural fix, can get a fast non stop train into London taking half an hour, quicker than the tube from my child hood home. The village I live in is a fantastic community especially for the retired, so many things to do plus lovely open fields to roam.
Many of my friends here have downsized to small terraced houses of which there are many. We have buses , doctors, library and two good village general stores. Have a good think , what would you do if you moved to (in my opinion ) inhospitable suburbia and with whom.? Let common sense lead you, not your heart.

It depends how near to London you are thinking of. Even Chelmsford - which is about a half hour's drive away from East London - is quite expensive. I think it would be unwise to rent or buy a flat because the additional, and ever-increasing, charges are becoming a problem for lots of people.

I think if you are willing to downsize quite a bit then there are some areas you would be able to afford to buy in In my view, the plus side is that you would be likely to have far better amenities - public transport, convenient shops, clubs and places of interest, etc, etc.

The suggestion about a retirement property might be a good one because, although I believe they are difficult to sell, that would not be an issue for you if you have no close family to consider.

Is it too nosy to ask the general area that you were considering?

We are near London and it's easy walk or 5 min bus ride into town. Decent flats also ...

I think if you move to a nice cozy town just outside the m25, that's OK isn't it

I’m very grateful for all your helpful replies as they’ve led me to really focus on matters to me, as well as sending me down various new rabbit holes to research.

In a nutshell, I have come to the realisation that renting is not for me because I couldn’t live with the uncertainty of having to move out at some point. It would be a constant worry. I realise now that I want the security of a home of my own that no-one can take away from me.

Also, I’ve become interested in the suggestions made about retirement flats. To be honest, that’s not an option I’ve considered before because I took fright when I saw how much the service charges can be – one development locally by a well-known provider has a service charge on a one bedroom flat of over £10,000 per year which isn’t something I could manage. But I’ve found that there are other providers, some in the area I’m interested in that are more reasonable (the area is St Albans - not a nosy question at all Eloethan!). One bedroom retirement flats in a good area there seem to be in the region of £350,000, so roughly equivalent to what I would sell my house for. I also like the idea of not having to worry about the upkeep/repair costs of a property, and the maintenance of a garden I might not be able to manage any more. And, as pointed out, it’s an option as the resale value isn’t really a concern for me given my situation.

So that’s now becoming my area of focus – and any tips on purchasing/living in a retirement property, pitfalls etc, would be helpful (if I haven’t already bored you all to death!).

No on je, you havnt bored anyone.
Have you lived in a flat before? It can be noisy from all sides, above below and next door especially with uncarpeted flooring.
If no garden you will want a balcony I imagine, well I would, so make sure it’s facing the right direction to get the sun 🌞 be that am or pm.
Bear in mind that charges can and do increase dramatically.
I hope you find something that works for you.

No Connie, not on je…. Typo.

IMO the main potential snag with private renting, is that your landlord/lady may suddenly decide they’d like to, or need to, sell, so unless it was to another LL who was happy to buy with a tenant in situ, you’d have to move.

I moved to a ground floor south facing flat and found it very hot in the summer although winter benefitted from the warmth. I missed wandering out to the garden as the flat had no direct access. No noise problems but service charge substantially increased yearly. I sold it after 6 years and purchased a 1 bed house with small garden and now very happy. I wish you happiness in whatever you decide to purchase.