moving house

[VAL23eric]

Has anyone out there sold their family house to move into a rented council retirement apartment as they got older and found their house too large and too expensive to keep up with? We are considering this option as we approach our late 70's. Having been on a waiting list for nearly 2 years we feel that the time for making the decision could well be getting closer. Will we be doing the right thing? Any comments or advise from someone who has "been there" and "done that" would be very helpful. Thank you.

[droopdrawers]

I hope I've understood you correctly.....you own your own house now. Its too large for you so you want to sell your own property and hope to move into council property.....presumebly you will pocket the proceeds of your house.....yes?

Personally I would be amazed if any council will wear that situation val.

Surely the thing to do is sell your property by all means, and use the proceeds to puchase a retirement property of your own.

We did this last year. Having had a 3 bed house that became to big to care for as we used to, we sold it and downsized to 2 bed retirement property. Made a few �s as well.

IMO thats the way to go.

DD

[VAL23eric]

Thanks for your reply. Will start looking into it.

[Francis Asis]

My parents did this exact thing 2 years ago. Yes they did pocket the proceeds but are using them to pay the rent on their flat. they are both late 60s and couldnt cope with the house any more as both have very bad arthritis of the spine. It was the best thing they could have done. No stairs to climb, no maintenance problems. The timing was right too as I think if they had put it off and one had (god forbid) died the other probably wouldnt have wanted to leave the marital home after 43 years. I say Go For It! and good luck to you.