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Original poster

moving wobble... from house to flat

69 replies

Bonitalazenia · 20/05/2021 19:36

I've lived in my Victorian terraced house since 1999... always been happy here, owned it on my own and met DH 10yrs later. Now got the opportunity to be mortgage-fee by moving from the house to a flat on the seafront....... it would be 'ours' but paid from the equity from my house.
We have also got a small apartment in spain which would also be mortgage free from the sale of victorian terrace....
Just worried about moving from a house to a flat...

OP posts:

HeddaGarbled · 22/05/2021 17:01

😲

Are you sure you wouldn’t be better off paying a mortgage for a finite term?

Iwantcauliflowercheese · 22/05/2021 19:03

My DF sold a detached house and bought a top floor flat. He hated it. The woman in the flat below complained about him walking around it. He had thick carpets and underlay. She complained about his television. He was scared to watch it. The stress nearly broke him. He sold it and bought a town house which he loved.

I will never buy a flat.

CeibaTree · 22/05/2021 19:16

Does it have a lift and is accessible - for the years to come when you or DH might be less mobile?

Your point about your mortgage on your flat being over in 7 years but the flat service charge going on forever is a good one. And there could be large on fees in the future, or massive service charge hike. Personally I wouldn't ever move from a freehold house to a leasehold flat.

AlmostSummer21 · 22/05/2021 19:24

I think you need to stop worrying about emasculating him. The house is YOURS you should be the sole owner of the flat (I think apartment sounds nicer!)

What if you hate it & want to move but he doesn't?

And you shouldn't be putting your sons inheritance of either place at risk.

His adult children hate you - don't lose control of your life!!

osbertthesyrianhamster · 22/05/2021 19:38

@AlmostSummer21

I think you need to stop worrying about emasculating him. The house is YOURS you should be the sole owner of the flat (I think apartment sounds nicer!)

What if you hate it & want to move but he doesn't?

And you shouldn't be putting your sons inheritance of either place at risk.

His adult children hate you - don't lose control of your life!!

This.

Just no. Just, financial suicide. Fuck that!

My aunt had this 'apartment', she thankfully saw sense and sold it (they're a bitch to sell, too) and a year later they all got landed with this huge bill for a roof.

The fuck I'd put my kids before a man, ever. I'd take out big life insurance so they could pay the mortgage off in the event of my death but no way I'd ever buy a flat again in this life.

Fieldsoftripe9 · 23/05/2021 09:12

As mentioned above, share of freehold is no better. I wouldn't touch a Leasehold property. Stick with your house

Howshouldibehave · 23/05/2021 09:19

You will only be ‘mortgage free’ in name though as you will have massive yearly fees that will never end and will only increase! I think you’d be mad to do this.

crimsonlake · 23/05/2021 09:53

Regarding the property being left to your son, have you thought about what would happen if either of you went in to a care home later on in life? There is something you can put in place to protect one half of your asset if this should occur to either of you.

user1493494961 · 23/05/2021 10:26

I live in a touristy area and properties have been selling like hot cakes, mainly to rent out on Airbnb. With a large block of flats like that, there are bound to be some that are Airbnb'ed. This could change the vibe a bit. I think you would be mad to buy it, mainly from a financial aspect. I would keep my Victorian terrace (in my name only) and would ensure my will was watertight so that my son inherits my assets. If you predeceased your husband and he remarried, presumably your son could end up with very little.

Original poster

Bonitalazenia · 23/05/2021 16:50

Ive had a melt-down today regarding the advice on this thread...full-on colly-wobbles, tears and snot... I asked for it I know....
Full-on panic attack which my sister-in-law has talked me down from... Main thing is I completely trust my Husband, he was/is the bridge between me and my son (DS age 30). My son always says 'Love you'to my DH , they totally respect and love each other.
If it all goes tits-up my Husband is the only child (hes 61) of elderly frail parents who own a property... yes i Know this isnt guaranteed...

OP posts:

user1493494961 · 23/05/2021 18:13

That's the problem with an anonymous forum, we don't know the individuals involved and we look at things from a worst-case perspective. I'm sorry you've been so upset and I hope the move goes well for you and your DH.

Howshouldibehave · 23/05/2021 18:16

Sorry you’ve been upset but I think the advice on this thread has been good. I don’t get why anyone would give up a house to pay such eye-watering yearly fees for a flat.

CeibaTree · 23/05/2021 19:51

Ahh sorry you have been upset - I have no comment on the financial situation with your husband, but I really do think it would be foolhardy to swap a freehold house that will be mortgage free in a few years for a leasehold flat where so much - service charges/neighbours etc - will be out of your control.

Cinnamon35 · 23/05/2021 20:27

It seems to be on mumsnet that everyone lives in freehold houses and would never be so ‘stupid’ as to live in a leasehold flat. In reality, many of us do, without a problem.

The view from the flat is lovely, I think you could have a lovely life there. If it doesn’t work, then you can chalk it up to experience and look at taking out a flat on a house again - it may cost money but no decision is irreversible. You know your husband and we don’t so your judgement is the only one that matters here.

Whatever you decide to do I hope you enjoy it

SpnBaby1967 · 23/05/2021 20:35

I think many leasehold flats can be lovely, especially is developments mainly for older folk so dont be put off by the stories of noise and ASB.

But remember the fees will go up every year, and if something communal but big needs doing, like the roof, it's you who has to stump up. My Mum ended up with a £14K bill for her share of a roof repair.

CeibaTree · 23/05/2021 22:47

It seems to be on mumsnet that everyone lives in freehold houses and would never be so ‘stupid’ as to live in a leasehold flat. In reality, many of us do, without a problem.

I don't think anyone has said it would be stupid exactly but there are huge benefits for a freehold vs a leasehold. I lived in a leasehold flat for years, and the service charges and periodic maintenance bills meant that although our mortgage itself was a bit more when we moved to a house, the fact we weren't paying service charges on top of it meant our housing expenses went down. We were perfectly happy living in a leasehold flat for almost 10 years - and I know a lots of people don't have a choice, but the OP does and many of posters offering advice suggest sticking with the freehold house for various reasons.

TiltTopTable · 23/05/2021 23:17

We did a similar move, from a 4 bed detached to a 2 bed flat, in order to be mortgage free. We called it 'downsizing' but, like you, our flat is huge - 204 sq metres (bigger if you include the large vaulted cellar), so bigger than our house. We've been here 3.5 years and love it. Our service charge is 3,200 pa. We have our own garden area but access to large communal grounds.

Negatives: 1) dealing with neighbours when things need sorting. We all share the freehold and have our own management company. We've recently had some issues about the mature trees in the grounds that got quite heated 😄. 2) Noise from upstairs neighbours - ours are great and live abroad half the year (they've been stuck abroad for a year now which has been great!), but it is a concern that one day we may have not so great neighbours. 3) having to attend committee meetings and AGMs and deal with the cast of Fawlty Towers!

Those issues aside, we've bought and sold 6 times in 35 years and we both agree this is the place we feel most at home.

Billandben444 · 24/05/2021 06:53

The service charge is very high but you don't have any outside maintenance on this sort of flat. We moved from house to flat and haven't regretted it (we're late 60s) - no outside decorating, window cleaning, grass cutting, no worries about gutters/drains/roof. I do miss a private garden (but not the upkeep) and we're lucky to have a garage for extra storage. We've found that owner occupiers are the best neighbours rather than short-term renters and we have a 999 yr lease and an excellent management company. I'd get over my wobble (understandable), write a list of pros/cons/worries and then decide with your heads and not your hearts. It sounds lovely to me!

Stillfunny · 24/05/2021 10:41

It is a shame that you got so distressed about it all. What you are doing is my dream situation. And it looks lovely there , beach access is great and even in winter it gives you such a feeling of space. But only you know what would suit you. Are you and your DH , easy going , noise tolerant ? I am so much more easy going about the idea of putting up with communal living every day noises. The maintenance does seem high , but then I have to regularly replace pumps in boiler, service it , get garden done , paint and decorate the outside, etc.. And if you intend to also spend time in Spain , there is a lot to be said for just locking up and going . Rather than buying in Spain, would regularly renting a villa when you want to go ? Maintaining property abroad and maybe your descendants selling can be so very difficult , especially with Brexit. And as you get older , the appeal of travelling to get there may fade . This is an exciting time for you, so many options . Take it slowly, no need to rush .

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