Dilemma over house wwyd?

[Biglifedecisions]

Crunch decision to make and hoping you can help?

Dh and I are in stable professions and enjoy our jobs - although we are getting more tired, mid fifties with adult dc (18 and 21) We are about to downsize. Staying in the same area.

Would you:

a) Move to house A which is under budget, big enough for dc but not huge and potentially retire early and /or go very part time, and have a healthy savings pot. House is lovely but not exceptional.

b) Move to house B which is slightly over budget, much bigger with a really lovely garden, and it’s a pretty house. It means we will definitely have to work to 60, and in part time after that probably for a few years.

Option A gives us more freedom and options, option B would be a lovely home for us for many years. Wwyd?

YABU House A
YANBU House B

I did A.

I'm slowly making a garden that I love which is exactly the way I want it.

I travel a fair bit and go on holifay.

I've just paid for me and my son and daughter to go to Greece for Feb half term.

I prefer spending money on travelling and doing things to houses.

Life is for living so go for the house that will make you feel happy every day, with a garden you will love being in, in an area/road you love.

You'll spend a lot of time at home when you retire.

DH and I (late 40s) are planning one more move at 60 @Biglifedecisions to the last house we’ll live it (bar for any care home necessities). We will future proof , buying somewhere with a manageable garden, a downstairs loo which could be converted into a shower room, multiple reception rooms in case need a downstairs bedroom. I think you’d be mad to move mid 50s to somewhere you’re likely to have to move from in your 70s…

Someone I know died suddenly and unexpectedly recently. He was retired and his wife was about to finish work. Children flown, plans made. They were so looking forward to their time together.Awful.
Sorry to bring down the mood OP, but I’d go for House A.

I'd do B. What's the point in retiring early from a job you like, only to hang around in a house you don't like?

A beautiful garden and a home you love will stand you in good stead - they're with you always, unlike holidays which only last a few weeks at most.

Option A is preferable. You are not mind readers and B would entail much more work when you are both getting older. Of course you could come upwith an option C if you were still undecided!

B. I couldn't settle for a house I didn't truly love.

It would be option A for me. Although if it wasn't urgent, I'd probably hold out for a house I liked more.

Are you thinking that this'll probably be "the last house"? In which case you need to ask yourself whether large house and garden will still suit you when you're 65/75/85.
I also think people tend to overestimate the number of nights their adult children will want to sleep over. There might be quite a few when they're in their mid-20s, but that number will decrease a lot as they get settled into their own comfortable homes.
I'm 40 and probably sleep over at my mums maybe 6 or 7 nights a year. My slightly older sister does even less, probably 3 or 4. And that's only because my mum did the upsizing thing and has 3 spare bedrooms.

A, without a doubt.

I lost my mum when she was only 55 and all she ever did was worry about money and bills. Life is far too short.

Go A, retire or go part time as soon as you can and just relax and enjoy life.

I'd go B as not much longer until you retire. I couldn't live somewhere I didn't love. I've done practicality for years with small children and now I'm going with my heart especially since we've lost all 4 parents in their earlier 70s in the past couple of years!

I would go A. Use the extra money from the budget to go on some lovely holidays or to make some improvements so that the house is perfect for you e.g. get the garden and/or kitchen done beautifully.

We paid off our mortgage on our 2 bed house the week of covid.
Having that security meant we could focus on what we really wanted, which was to save up as much as we could and move to France. So we took early retirement mid 2021 [I was 53], and bought a house in France, and moved here after renting our UK house out as a safety net should this not work out. So as soon as our tenants decide to move out, it will be sold and we will probably look for a house here with more workshop type space for my pottery stuff and his gym stuff, and for the numerous semi feral cats we have semi adopted with more ground level living.

I think you need to think long term about what sort of a life you want should you retire early. You need something to focus on. And aim for that in your house choice.

B for the garden and many days pottering in it. But even better move somewhere a bit cheaper and get a cheaper house with the benefits of B.

I don't think mid to late 50s is the time to over stretch. If house A isn't floating yiur boat find a house that suits yiur budget and that you like more.

My parents did A.

They were both retired by 60, went for option A two years later, and 10 years on are thoroughly enjoying seeing the world, having fun, and spending time with family/grandchildren.

My dad has a medical condition and his prognosis was that he was unlikely to live beyond age 60. He is now 16 years beyond that (made drastic lifestyle changes to help himself!) so loves having the time to live life to the full.

This.We haven't downsized but the house we have is completely paid off. We retired at 55. Best thing we ever did. Having an absolute ball

Can you post the 2 houses OP?

I would go for B but then I always go for the best I can afford. We moved into a house that was a big stretch in our early 40’s but we now have huge equity and a fabulous house. I always see an expensive house as a long term pension, if I ever need to move to an apartment, I will have plenty of equity.

Do you like spending time in the garden? Personally, I adore my huge garden , especially for the privacy.

Providing house A wasn't in far less desirable area I'd go for A. Why stretch yourselves and have to work longer than necessary?

If A saves you money can you make any changes to it that will help you like it more? Regardless I’d go for A

I can understand that B is attractive, and having a larger garden gives you more privacy, but we are currently (in our early-mid 60s) struggling to keep anywhere near on top of our third-of-an-acre garden. Hedge-trimming (hedges all round) takes so much time and effort. We want to be away places enjoying ourselves in our camper van instead of having to tend the veg beds and water the greenhouse. We had many years when our travel and fun options were limited by work commitments and elder care, but now we're free to go off at the drop of a hat, or grab a cheap week abroad, the garden feels like more of a millstone than a pleasure. And the bigger the house, the more the maintenance.

Personally, I wish we'd found ways to wind down our work in our mid-50s and taken more time off to make the most of those few years before the effects of the menopause/ ageing really begin to kick in. Ten years ago we were both fit and healthy, our knees and hips and backs were still good and strong. We're both reasonably fit and well now, but every year the physical work of maintaining the house and garden seems a little more draining and despite decent diet and exercise we're starting to have aches and pains. If we'd planned better we might have gone travelling and doing more strenuous things in the last years of our 50s, but we didn't seem to have that option.

At the moment we have one friend, slightly younger than us, receiving treatment for cervical cancer and another around our age in palliative care with a brain tumour and secondaries in the lungs. It's certainly made us realise that you have to grab your opportunities when you can.

I'd say that if you can imagine yourself living happily in A and using it as a base for travel and adventures or whatever else you want to do, then go for A and make the best of your prime years. Good luck.

A- for an easier life with less stress.

I’d go for option “C”

Keep looking for something that ticks more boxes. You don’t appear to be in any hurry so there’s time to sit back and look for something else.

I would personally not go ‘over budget’ at this point in your life because I’m risk adverse when it comes to finances. It’s a bad idea generally to buy over budget anytime, and doing it at the same time as reducing income (assumption on my part) is super risky.

I’m approaching 50 and would choose A. I don’t want to have to work longer than I might otherwise need to through necessity (fine to carry on through choice). So long as A has a garden you can use the extra time making it lovely - or look for a lower priced property like B. I’d rather have the extra time and money as I got older and enjoy the freedom before old age/health brings any restrictions.

What is House A like? Area, bedrooms, garden etc. You don't sound that excited by it.