Downsize your home to pay for old-age care

[Sysman]

This is what happened to me

Only nowadays kids have to come back home after they finish uni, where else can they afford to live? also do you know there are a bazillion uni holidays, so they left to uni but they always seem to be around!

I once heard a good tale about a young lad who came back home and showed no signs of leaving its comforts. His father simply doubled the rent every month.

On the other hand my parents started charging for board and lodgings as soon as I finished uni, which made it very hard to reach escape velocity.

I enjoyed the long uni holidays myself, but only because they meant I could earn some money. Of course holiday jobs for students were quite plentiful back then, as long as you didn't mind getting your hands mucky.

[d000hg]

so as I see it, you work like idiots until like 68 and during that journey only barely having enough to survive and put a roof over your head and then old age comes and you gotta sell what you have to pay for care

What's wrong with that? Selling your house to pay for care in your old age is fine as long as it covers the cost. Your kids shouldn't rely on getting a house when you croak.

[SueEllen]

This is what happened to me

Only nowadays kids have to come back home after they finish uni, where else can they afford to live? also do you know there are a bazillion uni holidays, so they left to uni but they always seem to be around!

Then you didn't do the trick that a couple of my mates parents did - downsize or move abroad the minute the children are at uni.

Though this only really works if you have children with a small age gap between them.

[zamzummim]

I caught a repeat of Inspector Morse a couple of weekends ago and he was pondering the housing situation. It went something like

"Grind your way up the property ladder to end up with a four or five bedroomed house, just as your kids are about ready to leave home.

Is it worth it?"

This is what happened to me

Only nowadays kids have to come back home after they finish uni, where else can they afford to live? also do you know there are a bazillion uni holidays, so they left to uni but they always seem to be around!

[Sysman]

so as I see it, you work like idiots until like 68 and during that journey only barely having enough to survive and put a roof over your head and then old age comes and you gotta sell what you have to pay for care


what a merry go round

I caught a repeat of Inspector Morse a couple of weekends ago and he was pondering the housing situation. It went something like

"Grind your way up the property ladder to end up with a four or five bedroomed house, just as your kids are about ready to leave home.

Is it worth it?"

[amcdonald]

going to be a very long wait? Does anyone seriously believe the electorate will vote for MilliPede as PM? Even Kinnock carried more clout.

Never undestimate the stupidity of the electorate, it's how labour always get back in

[MrMark]

Wait until Labour get in again - They'll start shuffling people about compulsorily, based on the size of their properties, to make room for families.

I think that was one of the unstated reasons for their planned council tax revaluation.

See if I'm not right.

going to be a very long wait? Does anyone seriously believe the electorate will vote for MilliPede as PM? Even Kinnock carried more clout.

[MrMark]

so as I see it, you work like idiots until like 68 and during that journey only barely having enough to survive and put a roof over your head and then old age comes and you gotta sell what you have to pay for care

No-one's forcing you to work that hard. Or to live until old age, for that matter. Would be it better buying/living in another country without these conditions?

[OwlHoot]

Wait until Labour get in again - They'll start shuffling people about compulsorily, based on the size of their properties, to make room for families.

I think that was one of the unstated reasons for their planned council tax revaluation.

See if I'm not right.

[milanbenes]

following on from yesterday's discussions, it seems this is the future folks.....

'Pensioners may have to consider selling up and moving to a smaller home to help pay for their care even after the system is reformed, the Government’s long-term care czar has warned.

Read more: Downsize your home to pay for old-age care, says the man brought in to ease burden on middle classes | Mail Online'


At present, men and women have to pay the full cost of their care until they have only £23,250 in assets left, including property. Some 20,000 are forced to sell their homes every year.



so as I see it, you work like idiots until like 68 and during that journey only barely having enough to survive and put a roof over your head and then old age comes and you gotta sell what you have to pay for care


what a merry go round


Milan.