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Elderly parents

Mother in home. What to do re house ?

33 replies

Grinchly · 01/07/2019 17:11

Hello

Mother, 88, with lots of chronic health issues ( heart failure, AF diabetes, etc as well as Alzheimer's ) is now in a care home.

This has been coming for some time. Was propped up at home with carer visits but no longer sustainable.

She's self funding. I have EPA and have ensured there's plenty of ready cash so no urgent need to sell the house.

My dilemma is: do I sell the house for her now and invest the proceeds (wibble) or wait perhaps till next Spring when Brexit things may be clearer? Or get tenants in?

It's in a desirable area and well maintained and should sell reasonably quickly. I've had it valued by three agents and also asked advice re letting to at least provide her some extra income.

They all recommend if letting, I replace the bathroom ( it is very bad) and maybe knock down wall between bathroom and separate loo to make it rentable. But that will cost several thousand K.

Solicitors have suggested I may need permission to do this from Court of Protection, and even to let it I should check with them.

My instinct is to leave it till next year, turn off water, arrange vacancy insurance and check every week when I visit.

But by then the economy and the housing market could have gone to hell in a handcart. Confused

What would you do?

Thanks in advance Flowers

OP posts:
1cecreamFreezer274 · 02/07/2019 02:45

Suggestions

There was a discussion in property section about a separate toilet & separate bathroom. The consensus was NOT to knock the wall down & keep them separate. This means, if someone is in the bath for hours, the toilet is still free for others to use

What is wrong with bathroom ?
My suite is not a fashionable color, but it is fully functional

If you are going to rent it out
You need landlord insurance
Who will vet & manage the tenants yourself or an agency.
Do you have funds for emergency maintenance ?
What will you do with all your DM possessions, store in loft ?
You will need to complete a self assessment tax form on behalf of your DM to HMRC for the income earned

Personally, I would not spend any money doing it up. I'd rent it at a lower cost, rent as seen
You need a gas safety certificate
You need electric safety certificate
Lots to think about, lots of responsibility

Grinchly · 01/07/2019 21:33

I have EPA not LPA, and no Mother doesn't need to release the funds from house yet.

OP posts:
Grace212 · 01/07/2019 20:51

I'm not really expecting the economy to go to hell in a handcart

otherwise I'd wait it out, because I'm looking to relocate near to my elderly mother - if I thought prices would drop I'd wait and try to buy after a crash.

Obviously I can't predict the future though.

if you have LPA why do you need to apply to the Court of Protection? Also I think in your case it would be a pain to try and sell the house in a hurry so I'd be inclined to sell it, after all it's clear your mum needs the £ for care.

I suppose a lot of this depends where you are and your view on Brexit. In and around London, the money in the housing market isn't linked IMHO.

stucknoue · 01/07/2019 20:43

With all those issues ask for a continuing care assessment. Can't help with the house though

thesandwich · 01/07/2019 20:41

Hard to know.... if you feel able to take on ,or farm out the refurb and rental out..... we had issues with the second lot of tenants in pils house and the agent was useless.
First rental was fine.
I suggest redirecting all the post via po ASAP. What will be less stress for you?

CassianAndor · 01/07/2019 20:37

I would inclined to invest some cash in a new bathroom (not sure about the wall) and rent it out.

MrsApplepants · 01/07/2019 20:32

I would get the work done and let it, make it earn some cash to postpone the day when you need to sell it. New bathroom will make it easier to sell too

Grinchly · 01/07/2019 20:08

Anyone

OP posts:
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