NotMyRealName
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@Buddyboy...... I've no recollection of you on my staffAn Old boss of mine said, when you're older, live where you can walk to the shops, pub, chemist and doctor/hospital.
Wise words.
@Buddyboy...... I've no recollection of you on my staffAn Old boss of mine said, when you're older, live where you can walk to the shops, pub, chemist and doctor/hospital.
Wise words.
Really interesting discussion. We have 12 and 14 year olds, we're mid 40s. About to do a big job to the house. It's a great house as is, but need a bigger kitchen/utility, another bathroom, and ideally a snug/games room for kids. We love the area and have some great neighbours.
The big job gives us everything we need, but looks like being 300k+. It's our forever home , but based on the above "forever" is now understood to be to mid sixties. Kids will probably be here another 10 years, maybe 20 with college, saving for deposits etc.
At €300k+ I'm continually looking at whether we're mad to do it. I'm not too worried about making our money back, and I think we'll get huge enjoyment out of the additional space and usability. Plus we have to re-wire and insulate, change windows, so a job needs to be done. But it's also good to have this longer plan of moving in mid-sixties to smaller/more appropriate accommodation in mind. If I moved to an apartment I would definitely want it to have outside shared green space. @LondonIrish your parents' setup sounds perfect.
Interesting. I don't agree at all. Or maybe it depends on "can get away with".
I think key to living harmoniously with family is having space where you can retreat to. But maybe that reflects badly one me. I like the idea of kids having a room to game in or have friends over to hang out in, while parents have a separate spot to watch telly/read etc. Or one parent to be able to close a door to listen to music, and the other parent to have friends over for a bite to eat or a drink and chat, while the kids are in their own space shouting at the computer games.
I think having three "living areas" is about right for us, family of 4, teenage kids. I don't think that sounds like your idea of "the smallest house you can get away with".
Well, I understand what you mean and "what you can get away with.." sounds like a casual decision rather than the multi-dimensional measured consideration that it was.....in our case.
I have managed pretty much all you've outlined....in a modest 1000sq ft terraced home, so I know it's possible but that might not be desirable for others. My 2 kids are teenagers and have never since complained about the trampoline we didn't get or the skip we didn't need later to put it in.....or the cow we didn't get because they like milk.
If downsizing may be of concern to you, then consider not upsizing. I do business in this upsizing space. I am not envious of the purchasing power of my customers. They are all nice people spending their money in their way. Sometimes I find that they're looking around wondering what can I buy next? As @Gordongekko disparagingly referred to it in another thread "feathering some builders nest".
You would be surprised at how even the smallest house feels empty when there's only 2 of you there (or 1). Covid has kept homes full for the last 18 months or so. But send your teens out,tidy the house, put on the Beatles "she's leaving home" imagine the teens won't be back and THEN see how big your house is.
Ownership is an illusion. We have custody of things and we're just passing through. I wouldn't want this to come across as an abstemious viewpoint. If large spacious homes and gardens are for you, then go for it. When I give people more space, they fill it. Without fail.
We've entertained at Xmas, New Year's,BBQs, book clubs, birthdays, come-dine-with-me , around the 20 people mark. It's not perfect but that's part of the memory.....even if you can load the dishwasher from your dining chair.......
This is not a recipe, only an opinion.....just in case there's any doubt..
So very true.Great post Black Sheep.
This is Askaboutmoney, so we do focus on financial wellbeing, but it’s also vital that people invest in their physical wellbeing also.
Movement, Movement, Movement at a minimum.
There’s not much point in having a big pension and plenty of money in the bank, but being unable to do anything.
I love our house in the summer. Lots of rooms and room in them. East/West facing. Sun in the morning in our kitchen. On a very hot day we can retreat to the other side of the house for a bit of shade and coolness. Nice garden. Parking for up to 5 cars. Garage. I can get lost easily enough if needs be.become used to wearing 2-3 layers of clothing inside during cold snaps. To me this seems like a meagre and depressing retirement but they have a big garden that they like to potter about in and seem quite content.
Intuitively, it is something that makes sense.I see the indo is running a headline today about tax incentives and grants to encourage people to downsize. Details to be announced in next months Housing for all Plan.
I think downsizing would be more popular if there was a property available next door. Downsizing often requires moving to new areas which is a challenge in later years of life, unless moving closer to family etc. I don't know if there are many developments in the country that cater to older age groups? Apartment blocks tend to be transient, and having lived in them for most of my adult life they are incomparable to the sense of community I've found since moving to the burbs.
Fully understand.We've had this same mantra about incentives for old folk to downsize with very few practical ideas on offer. As I've already said above our house is bigger than required but the options of downsizing are not attractive. We could buy a standard 3 bed semi in the same area,for just a little less than the sale price of our own so no pot of gold to be had. Houses in the same area sell at roughly the same price regardless of condition or even size. I think this is common to all housing estates. Perhaps we have learned a lot about ourselves during Lockdown and don't need the pot of gold. We come from that generation that were good with money management and can have a good lifestyle on pension.
A friend widow sold her 4 bed house 2 years ago and went to live with her daughter temporarily while her new 2 bed was being built. Problems with planning, water and of course Covid has meant she is nowhere near moving in and the stress has been dreadful. Stress is the thing to avoid at all costs
Will the younger upcoming family be able to afford the bigger houses owned by the older generation or will it be the select few who will be able to purchase?From a resourcing perspective, it is highly inefficient to have small older family units (of 1 or 2 people) living in these big houses while younger families are searching for suitable housing themselves.
Will the younger upcoming family be able to afford the bigger houses owned by the older generation or will it be the select few who will be able to purchase?
I don't apologise to anybody for where I live. We've worked hard since we were sixteen to get to where we are.
I didn't create the housing shortage crisis. Talk to those who did and leave us Empty Nesters enjoy what we earned and through much sacrifice.
I really don't think there is any need to incentivise empty nesters to downsize.I see the indo is running a headline today about tax incentives and grants to encourage people to downsize
I really don't think there is any need to incentivise empty nesters to downsize.
In my experience, there are plenty of empty nesters that actually want to move from 4/5-bed suburban houses built in the 70s/80s to new build 2/3-bed, A-rated homes, in reasonably close proximity to their friends/family and within walking distance of relevant amenities and good public transport links.
However, identifying such a property is a real challenge in most "mature" suburban neighbourhoods.
The problem, IMO, is the shortage of suitable homes to downsize to - not a lack of incentives to do so.
I absolutely agree that it would. Noone should be forced out of their house but social policy should address overall social good.You seem to be taking personal offence at a general suggestion. It's not aimed at you. Relax.
You don't need, or want to, downsize - great, stay in your house.
Don't you think though that for the overall good of our society, it would be good to create a proper downsizing option for those older people who might like to avail of it?