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

We did B a few years ago, going through pretty much the same decision making process as you. Yes we’ll both be working an extra few years, but absolutely no regrets whatsoever. We all absolutely adore the house and the increase in wellbeing and quality of life is immeasurable.

I don’t get the impression that the op is working remotely flat out and her working arrangement would t allow for copious time in the garden

What would your retirement age be with option a versus option b?

A without a doubt

We did A (but it's also suitable to still be in at 80+).

We're early 50's and will be able to be part time from 55 if we want.

Our friends think we're mad doing it so early but we're not bothered as it gives us freedom and options than if we'd picked the larger, statement house.

It's been a proper downsize, so utilities etc are all cheaper. It's been great as we've not felt some of the COL increases.

Read Secret Millionare, which is a great retirement planning book.

I'm early 60's and DH early 70's. Absolutely house A or find house C. House maintenance and garden maintenance gets more and more difficult the older you are. Unless you can also budget to pay for cleaners, handymen and gardeners during your retirement.

I think it depends if you’re a person who really cares about their living space.

I couldn’t live in a house I didn’t love, so it would depend if house A could ever be brought up to that standard.

If you’re mid 50s you may have 20 years before you have to move again.

But large gardens are a lot. If one go you is a mad keen gardener and can spend their retirement keeping it under control, ok, otherwise you will have to pay a gardener a lot of money.

One of the joys of being old and retired is travelling while you’re healthy enough to do that (assuming you can afford it) and not being limited for time by amount of holiday days available. I wouldn’t choose to work regimented days longer than I had to unless it was a job I adored. There are many other things to do with one’s life. And it’s true that old age does bring some limitations of energy, even when healthy. Don’t make decisions in your fifties that assume you will still have the same amount of energy and strength in your seventies.

B because you may move into A and regret it whereas you probably won’t regret moving into B.

Are mid 40s with younger DC and have just gone for house A. Pleased with the choice and happy to have tiny mortgage. DP was recently threatened with redundancy and it wasn't particularly stressful because of reduced house expenses

Similar situ. We went for option b.

House B

You're in your 50s not your 70s

We've just gone for B, though I would have preferred A really.

You will still probably keep working anyway, pensions aren't as good before 60 etc, plus it's not that old at all. X

We are soon to be in a similar position, just discussed this morning. Option A for us every time, because we value travel and flexibility, neither of us spend much time pottering around the house or garden.

Having had an aunt and uncle both pass at 61, and another early 70s uncle be diagnosed with parkinsons and dementia, I'd go for early retirement and enjoy your lives together.

However, if you're really not sold on option a, I'd keep looking for option c.

We haven't done this, but our house is a small semi. We've been here over 20 years, our kids grew up here and have now left home. It's not the house of our dreams, but we've paid the mortgage off, I've gone part time and we don't need loads of room now. Having more free money to do things we want is more important to us than the farmhouse in the countryside.

A

A - Not only is it budget and lifestyle friendly but you can keep it clean easily and upkeep will be small. If you want to grow stuff get an allotment.

B is a millstone and you'll be moving again before you retire.

You're clearly not into House A. Go for the one that makes your heart sing

Never too old to go with your heart ! We are roughly the same age as you, with dc at the same stages, I would go for whichever you love the most and will make you feel happy when you wake up, which sounds like B to me.

I'm older than you, we did move in our mid-50's to a glorious house which we stayed in for 15 years and really enjoyed.
Provided you're happy that you'll probably have to move again later I'd go for house B, but be prepared to have to sell sooner than you expect if anything goes wrong with your employment or health.
House A is the safer option, but have you considered looking for something between the two: a really nice house that's better than A but possibly slightly smaller and less expensive than B. If it's more the size of your likely final downsize you'll be spared the horror of another move.

We did A.
Both retired at 55 - so freaking happy 😊

B. I’d rather have a house I loved and a nice garden than to retire early. Working to 60 and a bit is perfectly normal. I know people who retired early ish and they do a lot of sitting around and rotting, watching tv, pottering, sort of waiting to die. Seems very depressing! I’d rather have the security of working and a good property investment.

I would go for B , because you can afford it and it sounds so much more exciting.

A seems like one you could move into 10 years from now and if B is as attractive as you think it will sell easily.

Perhaps you could pretend house B had another offer on it - how would you feel?

A. We have children similar age (4 of them) and are downsizing to the minimum house size so we can be mortgage free. I’ve done the big house thing now and ready for my life back not working to pay the mortgage and bills