Enjoying Retirement
Discussion
alscar said:
On the bright side gives you both multiple bedroom choice especially when all the kids have moved out !
Our current house is G2 listed - 400 years old etc - and after living here nearly 19 years have done a huge amount to it.
For the first few years I doubt there was rarely a month that went by without a white van on the drive.
With just the two of us now it does feel big but that’s not necessarily said as a negative.
We both think we have one more move left in us before a downsize move but wouldn’t go listed again although a period unlisted house if it has the right outside space / land would definitely be on the list.
Victorian houses were generally pretty well built.
My thoughts too with regards a Victorian home although it’s not the “downsize” we had originally discussed ! Our current house is G2 listed - 400 years old etc - and after living here nearly 19 years have done a huge amount to it.
For the first few years I doubt there was rarely a month that went by without a white van on the drive.
With just the two of us now it does feel big but that’s not necessarily said as a negative.
We both think we have one more move left in us before a downsize move but wouldn’t go listed again although a period unlisted house if it has the right outside space / land would definitely be on the list.
Victorian houses were generally pretty well built.
I guess it’s more the idea of keeping on top of things plus of course the heating bills . It’s 3500 Sq Ft of space over 3 floors .
Anyhow I’ll take a look
Jaguar steve said:
Exactly. What retired couple needs a big house that'll chew time and money that could be better spent elsewhere?
We downsized early and bought a far smaller two and a bit bedroom end terrace period cottage we could very comfortably afford and doing that more than halved the annual utility bills and released a chunk of cash for pensions which means we can carry on comfortably affording it 'till we're both gone.
It's lock up and leave too which means we can eff of whenever we like for as long as we like without a second thought and the worst that could happen is a few plants in patio pots might die through lack of watering.
We’re also seeing a place that’s all done and considerably smaller at the weekend which might be just the ticket so let’s see. We downsized early and bought a far smaller two and a bit bedroom end terrace period cottage we could very comfortably afford and doing that more than halved the annual utility bills and released a chunk of cash for pensions which means we can carry on comfortably affording it 'till we're both gone.
It's lock up and leave too which means we can eff of whenever we like for as long as we like without a second thought and the worst that could happen is a few plants in patio pots might die through lack of watering.
My heart is battling with my head over this and as you say Steve we’ve gotta make the right move ready for retirement.
You know the area we are looking at. Lots of the houses tend to be big and rundown so it’s tricky finding the right place.
Really don’t want a massive project either
Jaguar steve said:
Cost of labour and materials on any project has gone up through the roof post Covid.
I know that area well and problem is with where you're looking as a whole, with the exception of most but not all of Frinton is nobody's got any money and on top of that an elderly population tends more toward lacking the ability and inclination to maintain a larger house properly. They're all after a neat little flat on the seafront or 2 bed bungalow and that's why much of the built environment in the area is shabby and and run down compounded by occasional examples of slapdash build quality and a bland mish mash of various housing eras and styles.
If you spread your search area a bit wider then there's Manningtree and west towards the Dedham Vale and along the Essex/Suffolk borders or north into Suffolk and the Shotley Peninsula, all of which are far prettier and if I was retiring and after a property in that area with character and and a village type community that's where I'd be looking.
Yup , elderly retired couple having owned their house for the last 40yrs and never updated it now want a pretty penny as it’s located in the avenues. I know that area well and problem is with where you're looking as a whole, with the exception of most but not all of Frinton is nobody's got any money and on top of that an elderly population tends more toward lacking the ability and inclination to maintain a larger house properly. They're all after a neat little flat on the seafront or 2 bed bungalow and that's why much of the built environment in the area is shabby and and run down compounded by occasional examples of slapdash build quality and a bland mish mash of various housing eras and styles.
If you spread your search area a bit wider then there's Manningtree and west towards the Dedham Vale and along the Essex/Suffolk borders or north into Suffolk and the Shotley Peninsula, all of which are far prettier and if I was retiring and after a property in that area with character and and a village type community that's where I'd be looking.
The local clubs are the appeal for me , golf, tennis & cricket all within walking distance.
I know from a health point of view it’ll be a good place for me & the wife but I’ll widen the search
House viewings over the weekend now we have an offer on ours.
Have gotten the wife to see some sense with regards the ongoing maintenance of a large period property that needs work. Phew !
Have gone back with a counter on our place and likely to have 2nd viewings on properties this coming weekend.
One house we viewed during the height of covid but we’ve just got to get the seller to realise the price has now changed.
All very exciting but equally stressful as invariably you’re dealing with people that won’t accept prices have changed.
We’ve had to be realistic on pricing ours.
Anyhow , will keep the thread updated but hopefully we are again moving in the right direction.
Have gotten the wife to see some sense with regards the ongoing maintenance of a large period property that needs work. Phew !
Have gone back with a counter on our place and likely to have 2nd viewings on properties this coming weekend.
One house we viewed during the height of covid but we’ve just got to get the seller to realise the price has now changed.
All very exciting but equally stressful as invariably you’re dealing with people that won’t accept prices have changed.
We’ve had to be realistic on pricing ours.
Anyhow , will keep the thread updated but hopefully we are again moving in the right direction.
alscar said:
Good news - will keep fingers crossed for you.
Any alternative purchase yet on the horizon or will your wife let you pick this time ?!
A friend in the same village as us has just “ sold “ hers for 95% of the asking price which seemed toppy.
Been on the market 2 weeks - no board up yet - 13 viewings.
Maybe the market isn’t quite as depressed as some would have you believe.
One we viewed at the weekend would be ideal in my eyes. All recently refurbished and great location. She wants a little more space so I’ve said we could convert the integral garage and I forgo that space. Any alternative purchase yet on the horizon or will your wife let you pick this time ?!
A friend in the same village as us has just “ sold “ hers for 95% of the asking price which seemed toppy.
Been on the market 2 weeks - no board up yet - 13 viewings.
Maybe the market isn’t quite as depressed as some would have you believe.
She also has said the kitchen island is too small !
I’m sure we can work around that one .
This house all done would be easy street.
Ours is under the radar and only seen by one couple so far who’ve made an offer.
We know they are keen and it ticks all their boxes .
Y’days offer is around 5% under the guide but I’m sure they have room . We have priced it on the money we think .
Obviously they may feel differently.
One other place is lots bigger but also all done but more cash & im not sure the seller will be realistic in the current market.
Will update if we hear anything today
skeeterm5 said:
All sounds very positive and keeps you moving forward towards your goal.
One passing thought about changing the wife’s mind, just remember “happy wife, happy life”
You must know my wife ! One passing thought about changing the wife’s mind, just remember “happy wife, happy life”
She’s known for saying this .
More determined than ever to get this over the line now although there will be a period of me serving notice at work.
But , if I can get the rest of it in place then leaving is more on my terms so to speak
alscar said:
The saying is very true though.
On the notice front I presume you have it in your contract but in case it helps ,when I discussed mine
( which was 12 months ) my CEO said that I was retiring he would be happy to waive it providing I signed a 12 months non Industry compete.
I said I was happy to give it ( I wanted the 12 months salary at which point he said fine but I won’t expect much work from you after 6 months.
My situation may not differ much although it depends how I play things . On the notice front I presume you have it in your contract but in case it helps ,when I discussed mine
( which was 12 months ) my CEO said that I was retiring he would be happy to waive it providing I signed a 12 months non Industry compete.
I said I was happy to give it ( I wanted the 12 months salary
at which point he said fine but I won’t expect much work from you after 6 months. About to have updated zoom with WM ( the usual 6 month mumble) so tell him my updated plans with regards house.
We’ve gone back with a counter offer on the house but the EA is slow to say the least . Maybe to be expected!
I’d say realistically and all being well, I’ll be a free man by March of next year. Way longer than I wanted but I have a financial vested interest that I don’t want to lose !
alscar said:
You’ve mentioned this before - shares ?
Just a guess but a lot of Financial Industry contracts make specific mention of “ good leaver status “ which as a retiree you should be.
I was “ owed “ 3 years of rebated bonus’s which under the good leaver status I was allowed to receive still.
Have now received the 2 biggest of them each April as agreed and the third and final balance next April - it’s the princely sum of £1,000 though.
though.
So its a share portfolio of which vests every 4 years for release and yes " good leaver status" as you say. Just a guess but a lot of Financial Industry contracts make specific mention of “ good leaver status “ which as a retiree you should be.
I was “ owed “ 3 years of rebated bonus’s which under the good leaver status I was allowed to receive still.
Have now received the 2 biggest of them each April as agreed and the third and final balance next April - it’s the princely sum of £1,000 though.
though.
I can still leave however if i compete those shares get taken back so sounds like our situation is very similar.
Once i resign i have to be slightly careful in that i need to pay ball in order that we don't end up falling out and there is some random block put on my shares.
Its not super substantial but it all forms part of my planning.
Just ended call with WH ( whilst obviously looking at updates on this thread
) and all is still in order which includes someone wiping my backside at the age of 95....year right o! Time now to focus on getting the house sale over the line and as Steve says it'll likely take some interaction with our buyer to seal the deal .
Longy00000 said:
It seems more and more people get tied in with employers by way of financial incentives which of course is a double edged sword. The financial side being the big positive but the 'tie in' being the negative.
When I finished I was (am) on a financial incentive which pays a not inconsiderable amount over 10 years as though I was an active employee still but the docs state I cannot work whether there is a monetary consideration involved or not. All sounds great but I do get bored and wished I could do some part time work, I'm hoping a new agreement might be offered but nothing as of yet and I simply couldn't afford to break the current agreement as the money is the main reason I could finish work at 54.
Making the man maths work is a huge consideration for everyone looking to give up work but don't forget once the sums add up you still need to fill your time.
For me I think things would feel.better had my wife retired at the same time but she still works and will for a few more years yet hence my boredom during the winter months.
However we are now facing summer so happy day
One thing I know I’ll never be is bored in retirement. When I finished I was (am) on a financial incentive which pays a not inconsiderable amount over 10 years as though I was an active employee still but the docs state I cannot work whether there is a monetary consideration involved or not. All sounds great but I do get bored and wished I could do some part time work, I'm hoping a new agreement might be offered but nothing as of yet and I simply couldn't afford to break the current agreement as the money is the main reason I could finish work at 54.
Making the man maths work is a huge consideration for everyone looking to give up work but don't forget once the sums add up you still need to fill your time.
For me I think things would feel.better had my wife retired at the same time but she still works and will for a few more years yet hence my boredom during the winter months.
However we are now facing summer so happy day
Combining golf and gym will mean that I’ll always have a routine all year round.
Equally I can see me getting involved with local groups and pottering around the house.
Having the time to watched varies series on Netflix for example will fill days so combined with learning to cook and all the above I won’t be bored.
I have a mate that says he doesn’t know how he had time for work !
The Leaper said:
I think all us retired people have the same feelings! How did we manage our time before, I often wonder.
Bit of a tense week here. We have decided to totally renovate our entire front garden so :
Tuesday: the garden team arrived, dug up both lawns to a depth of about 25-30cm, removed all plants and bushes
Wednesday: all the old soil and plants etc taken away, 10 cubic metres of good quality top soil arrived and roughly laid in position
Today: topsoil properly laid in position, new turfs arrive and laid, job done.
Also today I am off to hospital for assumed 3 nights for right leg total knee replacement surgery. This is my first stay in hospital for any period since 1956 when at 13 I had my tonsils removed! I have no concerns about today but recover for about three months will be something of an ordeal, no doubt. Left knee being done later 2023 is the plan.
Such are the joys of retirement and increasing age!
R.
I’ve had both knees partially replaced and various tidy up operations on them. It’s all a pretty straightforward process these days. Good luck with the op. Bit of a tense week here. We have decided to totally renovate our entire front garden so :
Tuesday: the garden team arrived, dug up both lawns to a depth of about 25-30cm, removed all plants and bushes
Wednesday: all the old soil and plants etc taken away, 10 cubic metres of good quality top soil arrived and roughly laid in position
Today: topsoil properly laid in position, new turfs arrive and laid, job done.
Also today I am off to hospital for assumed 3 nights for right leg total knee replacement surgery. This is my first stay in hospital for any period since 1956 when at 13 I had my tonsils removed! I have no concerns about today but recover for about three months will be something of an ordeal, no doubt. Left knee being done later 2023 is the plan.
Such are the joys of retirement and increasing age!
R.
Tbh we only had two discreet viewings by the same couple and bingo . They bid back 5% from guide price y’day then ramped it up today and job done.
As you say Steve now the fun starts.
Time to start telling people that their house has been on the market for ages as it’s hugely overpriced.
That always goes down well ;-)
As you say Steve now the fun starts.
Time to start telling people that their house has been on the market for ages as it’s hugely overpriced.
That always goes down well ;-)
Placed an offer on a property over the weekend and waiting to hear back. Think they’ll be the usual back and forth to try and find middle ground although my reservation is the owner of the house is a known messer.
Also had a 2nd viewing on another place over the weekend and although myself and the kids like it Mrs GT3 is concerned it’s a little small.
I’ve pointed out that i won’t be in much ;-)
If neither of these pan out we’ll sit back and maybe rent for a short period
Also had a 2nd viewing on another place over the weekend and although myself and the kids like it Mrs GT3 is concerned it’s a little small.
I’ve pointed out that i won’t be in much ;-)
If neither of these pan out we’ll sit back and maybe rent for a short period
Edited by GT3Manthey on Monday 15th May 09:38
Car bon said:
Potential to extend ?
You don't have to actually do it, but the promise that if you still think it's too small in a year we can extend may get her over the line.
It’s the upstairs she considers to be too small and sadly no room either side to make it larger . The loft is also too small so that work work either. You don't have to actually do it, but the promise that if you still think it's too small in a year we can extend may get her over the line.
Downstairs I’ve said we can convert the integral garage to another bedroom as a work around.
House is also all done, non period so would very much be easy living but she’s struggling to see it currently.
The house with the Messer is her dream one so let’s see on that one first
Car bon said:
It's a tough one as the kids may be gone in what feels like the blink of an eye and then all of a sudden you have plenty / too much.
I like the idea of a potential garage conversion if required. Once it's just the 2 of you with occasional visitors, the downstairs space is more important. Plus the potential to live on the ground floor may be useful in much later life.
The market that way has really freed up over the last 4 months now with little selling as the old guard still think covid prices are achievable. I like the idea of a potential garage conversion if required. Once it's just the 2 of you with occasional visitors, the downstairs space is more important. Plus the potential to live on the ground floor may be useful in much later life.
We’re not against renting as we did it previously & as you say enables us to pounce .
Our EA told us that our buyers parents had moved in my the area along with their siblings so with that info we held firm
PositronicRay said:
Similar situation, Mrs Ray liked a character property, plenty of downsides and messers. Original features and bread oven tugged at heatstrings and swung it. Fortunately we were messed so much we withdrew our offer and found a place that suits us much much better.
6 yrs on and I've only just got round to turning the study from dumping ground to habitable room.
Good luck whatever you decide.
Interesting post tks. 6 yrs on and I've only just got round to turning the study from dumping ground to habitable room.
Good luck whatever you decide.
Edited by PositronicRay on Monday 15th May 11:33
The house she really wants is a 1930’s home spread over 3 floors which was renovated by a previous owner.
I’d argue the kitchen needs doing but currently she’s adamant it’s fine. The rest of the house is immaculate and has nice touches like underfloor heating & speakers in the ceiling .
It’s a substantial home & my point is it’s too big for us but she’s driving it at Mo .
Let’s see I’ll keep you posted
Jaguar steve said:
It's a good point too.
Cost of everything - decorating, carpets, kitchens, bathrooms, Council Tax - whatever, all increases exponentially with a bigger house and there's no way to avoid it now or way into the future if that's what you choose.
Maintaining excess space and rooms might be easily affordable now but will it be so in 20 years time? Who can say?
Inflation only goes one way ! Cost of everything - decorating, carpets, kitchens, bathrooms, Council Tax - whatever, all increases exponentially with a bigger house and there's no way to avoid it now or way into the future if that's what you choose.
Maintaining excess space and rooms might be easily affordable now but will it be so in 20 years time? Who can say?
I’m just thinking when the kids have gone we’re rattling around in a house that’s too large . I think of tomorrow she thinks of today !
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