selling house, rent or buy?

The only people I know that have rented a property after selling their own house have done so to enable them to pay cash for a bargain house when they see one for sale. Have you checked out how much it costs to rent even the smallest house biker? And with interest rates being so low any money you get for your house will depreciate.

Its a hard decision bikergran. My DH and I rented for a while after selling our house and buying something smaller in a town nearer our children and grandchildren. I must say the rent for a tiny two bedroomed flat (with no outside space at all) was extortionately high and we were glad that we were only renting short term. Also there is no end to renting. Have you considered part buy / part rent ? Where you buy a percentage of the house and rent the rest?

My husband and I did it twice recently.
When we sold the guest house in York, we rented a bungalow for six months whilst we found out where we wanted to live in York. Then we realised that the only people we really knew in York were guests who had stayed regularly over the ten years that we had the guest house.
We then moved to the village we live in now, and rented for another 6 months until we found the bungalow I now live in.
I am thinking I might do it again, as this bungalow does not have happy memories. Also it is at the top of a hill and in the winter I can get snowed in. It's difficult getting down to the village shops. I am not going to be able to do lots of things, as I am not supposed to carry anything weighing more that 5kg. I can't use my lawnmower, or even put the bins out by myself. I certainly can't clean out the gutters. There is a block of flats in the village centre, converted from a hospital building, with a management company that does all the outside work for you. However, I do not want to sell this place yet in case I change my mind, so I might do both, rent a flat down there and rent my bungalow out to someone else.

hmm! I shall carry on thinking....yes our money will go down very quickly as I have no income of my own.....ok folks thanks for input always good to have the thoughts of gransnetters as they are all so wise and wonderful

I'd never consider renting. I know people who have gone down this path and their savings are making almost no interest and the rent is gradually gobbling everything up.
Have you considered buying a narrow boat instead? No council tax, generate much of your own electricity, peace and quiet of the waterways

Narrow boats are incredibly expensive and rather had work. I know of someone that bought a boat just before house prices shot up and they were never able to afford a house again. I do like the idea of a caravan, though, or, at least somewhere that doesn't take up all my time in maintenance. biker; you could perhaps downsize and buy a caravan and a small house and rent out the house to support yourself?

I would never sell and then just rent. Far too expensive and the money you get from the sale will just melt away and you are left with nothing and still paying rent, rates, utilities, etc.

Seems like everyone agrees biker. You could be paying rent for another 40 years! Sounds expensive to me.

When my aunt and uncle fell on hard time (they had been very well off) they bought a park home. A few years later he died but she remained there happily for many years afterwards. Their daughter has found it difficult to sell but that wouldn't be a problem once you are gone! It might mean you could pick one up for a reasonable price and then have your cake and eat it.

Good luck whatever you decide.

Don't assume that park homes are just for "trailer trash" living in superannuated leaky old caravans, either, biker. There are some beautiful examples out there. Just make sure you look at several manufacturers, types and locations, and read the small print carefully.

A lot of the makers and sellers have website. I Googled and found a website which is aboutliving in them generally, and does not promote their own brand (but it does include links to several reputable manufacturers) www.parkhome-living.co.uk/about-park-homes

Agree Elegran certainly no 'trailer trash' at my aunt's, it was in Broadway which is a beautiful part of Worcestershire and was very well kept.

I would n' t go in for renting. Always seems like dead money to me. I agree about park homes. There is one being advertised near me and it looks lovely on the inside! Nice quiet site near the river. And gated!

There is that thing where you can free up equity on your home but remain living in it for as long as you need to. It has to be looked into very carefully though.

There are some very attractive Park homes in a beautiful setting near us as well. It could be a way forward for people who like community living.

DH would move into one in a heartbeat but maybe the fact that they're on a riverbank with a pub is the reason I'm suspicious.

You have to very careful with that , indeed, jings or you can end up practically giving away your property for very little in return.

I know with some park homes you have to vacate them for a month or so each year [something to do with council tax].

I don't think that is universal, maybe it depends how the estates have been set up. I don't remember my aunt and uncle having to vacate each year, they lived for many years on a very pleasant site, with a lot of friends. Something else to check on.

That sounds like a fiddle Tegan! I know you can't stay on a caravan club site for a long time but these are homes. Don't think my aunt vacated for a month.

Merlot It does not have to be communal living - the one my aunt and uncle were on was in woodland, with winding roads through it. They could go out and visit friends exactly as though living in a suburban street if they wanted, or stay indoors and speak to no-one.

They could only see a couple of of other homes from their windows, not too close, and they had their own garden, back front and side. No straight rows of identical boxes, each home was different.

No communal shower blocks either, everything plumbed in and modern kitchens with all appliances. Home from home. She is tempted to move back there now that she is widowed (has been in a bought ex-council house) into a new unit that looks wonderful.

I don't think that's the residential ones (that you have to vacate for a month). Think it's the holiday type ones.

Yes Elegran. You're right. I was hesitant to mention it tbh.

It will be something to do with planning permission.

You could live for another 30 years and that is a lot of rent to pay.
Think very carefully about doing this.

I wouldn't be against renting completely, but I would want to be sure that I could pay the rent from income, not capital. We will sell up here at some point and will certainly rent while we decide where (and in which country) we want to live. We have discussed not buying again, mostly I think because living in France has given us a different perspective. Obviously the UK is completely focused on house buying, but people think differently about houses here and it has made us think too. We would make sure that we could comfortably pay rental from pension income though.

Unlike France, Germany, etc., rents in the UK in most areas are disproportionately high as compared to average income. I can certainly see the attraction of renting - but not here.

Like others have said, I've seen some very attractive park home sites and perhaps this might be a realistic option. If you're going down that route, it would be essential to read up on the subject as there are some unscrupulous site owners who can cause residents difficulties re increasing charges, applying conditions on selling a site home, etc., etc. It would anyway be well worth paying for proper legal advice.