Pensioners to be encouraged to downsize

Yes I agree it's worth discussing PollyTickle (love your name BTW ) it just bothers me that it's pitting one generation against another.

Christopher Pincher seems to be talking about incentives to downsize, but we have no intention of moving anywhere. I like the area, the house and the garden and I'm sure that nothing the government could do would make me change my mind. However if they are looking at incentives then they could cut stamp duty for people who are over retirement age and moving to a smaller property, encourage builders to build quality bungalows and have some sort of house swap scheme to avoid stressful chains. Or maybe the government could offer say £10K to people who fit the criteria, ie under occupying etc.

All the government need to do is exempt down-sizers over a certain age from paying stamp duty on the purchase of a smaller property.

Targeting the elderly ?How low can he sink.?

The thing is, most older people are not ‘rattling around’ in a 5 bed house with 2 receptions plus a morning room, and an acre of garden.
Many are living in modest enough 3 or 4 bed houses which are far from huge.
Anywhere around here, the only viable alternative - unless you want to pay as much as your house sold for, or more, for a large luxury flat - is the sort of 2 bed flat aimed at ‘young professionals’, often with an open plan kitchen/living room, and nowhere to put anything.

There are quite a few ‘retirement flats’ but personally I wouldn’t even consider those - most don’t even have a balcony and I’d go mad with no outside space - until I was probably about 85 and on my own. By which time I dare say the mere thought of all the faff and hassle of moving would be enough to finish me off.

As a letter in the Times said today, the idea of subsidising old people to downsize to smaller houses that young families can’t afford, is ludicrous.

My son lives with me at the moment, but I will consider downsizing when he moves out. The problem is in finding somewhere I’d actually want to move to though. Finding a smaller home preferably within a couple of miles of your present home, which still has a nice garden and decent views is a massive challenge wherever you live I suspect, but being over 65 doesn’t mean you should be expected to live in a faceless, overlooked little box with no garden.

Niobe

All the government need to do is exempt down-sizers over a certain age from paying stamp duty on the purchase of a smaller property.

The sort of smaller properties that so many young families can’t afford?

2 people in large house sell for 500000
Buy smaller house for 300000. They pay 305000 incl stamp duty, effective tax rate 1,67%. So now they have a nice manageable bungalow or flat and 195000 in the bank or a nice little flat in Spain.
Younger couple with children now take on big mortgage and pay 515000 incl stamp duty, effective tax rate 3%. Nothing in the bank.
Wouldn’t it be kinder if we dropped the stamp duty for the younger ones.
Just a thought.
I have heard the younger generation being labelled ‘entitled’. Here we are asking for incentives to do the decent thing for our children and grandchildren. Hmm.

Teacheranne loved your post. We live in a 3 bed semi, 2 double bedrooms, one ensuite and a single bedroom. Ten minute walk to village, buses etc, that’ll do us.

we rented because we couldn't afford to buy a home that we all could fit in, I don't think that has anything to do with home owners

Almost every house that comes up for sale around here is snapped up by someone to be let out as a house of multiple occupation.

Perhaps the first time buyers might like to buy the smaller homes he's talking about.

Can you imagine how things could go, otherwise?
One-bedroom homes standing empty, young people being told they're not eligible to buy them while the government harangues older people to downsize.

Yes, I hope this is another nail in their coffin by we maturer voters. Only problem is who to vote for at all. I'm just hoping I have an independent person to at least listen to in my constituency when the time comes

Many years ago, a friend and her DH were selling their tiny 2-bed home. The 2nd bedroom was tucked away and its door could be mistaken for a cupboard.
One older couple who viewed said that was ideal for them as they didn't want anyone to come and stay!

Calendargirl

How many pensioners live alone in a 3 bedroom council house which they do not own, which could house a family?
I know there is a dearth of smaller properties for them to move into, but it doesn’t seem right that they are also ‘rattling around’ in a too-big home, especially if they are in receipt of housing benefit and not paying full rent.

If they are a couple, or single person, they will get housing benefit only for the cost of a one-bedroom house. They will have to make up the remainder of the rent from their other income.
Their other income, of course, won't be much because, if it was, they wouldn't be entitled to housing benefit.

Pensioners are exempt from the so called “bedroom tax”.

kircubbin2000

The pensioner will move to a small house or sheltered dwelling, a wealthy family will move in and the first time buyer will still be waiting.

Or even more likely a developer will buy it and turn it into a HMO, especially if close to a university.

My mum lived in a 4 bed room council flat there was 10 of us when we moved in. My dad died and us kids moved out over the years. We all offered to buy her flat off the council for her but she refused saying she would lose a lot of benifits if she was a home owner. She loved her flat and she kept it lovely. The council pestered her to move to a smaller flat but she wouldnt because she had lived there over 40 years and it was her home. Within 2 or 3 weeks after she died they moved another large family in and it looks awful from the outside.
If you own your home they cant make you down size.

Go round any new housing estate and look who many of the occupants of the 4 bedroomed detached houses are - couples of working age, without any other family.

If it is good enough for working age couples without family, why is it not considered good enough for older retired couples?

I am in complete agreement with MamaCaz.

Lucca

I know a few couples who have found it not financially sensible to downsize !

Same here Lucca we would be worse off downsizing to a ‘Retirement Apartment’. Paying a lot more to have a lot less? I don’t think so!

We own our 3 bedroom house. I say 3 bedrooms but 1 room is really tiny.
It does the two of us but one day we would like a smaller place by the sea.
I do not feel guilty living in my home which we have worked hard for.
2 houses the same as ours have been brought latley they have both been turned into flats not brought by familys. Its property investers that will buy homes not familys. Oh and the amount of new flats being built round here is unreal. But no new hospital no new Doctors no new schools and no parking.

We are also in a mixed aged community and it's lovely. I can think of nothing worse than living in a purpose built 'seniors village' ; I had to attend patients in quite a few of those in my working career..........identical properties set in nicely landscaped locations but, oh, the way of life was awful, rather like an upmarket Butlins to be honest.
We have several young families close by and they keep us pensioners 'young'. There children are a delight and we all support one another.

Oops.......their NOT there!?

Council houses, yes, as there are families on long council lists waiting for a suitable home. I know of several elderly who are living on their own in a 2/ 3/4 bed house and refuse to move. The houses do not belong to them but they think they have a right to live there until they die. The council do help with moving costs if you downsize. I gave up my 3 bed council house and downsized to give a family a home and recieved £3,000 for moving costs.

If people have bought their own house they should not be persuaded to move as the house is their property.

I live in a 4 bed terrace house with a small garden. I have looked at 2 bed bungalows and they are tiny little boxes and cost more than I could sell my house for.
So I am staying put and if I need it in the future I can get a stair lift !!!