To worry about rent increase

[pussinboots61]

Hi I am a born worrier and have anxiety.

I live in a one bedroomed Council flat which I love. Every April I have the same worry about the rent increasing. In April it will be £499 per month. This is for a small one bedroomed flat.

I know that its cheaper that private renting but I worry mainly about affording it when I retire in three years time, though I will get a good private pension plus a state pension but with this Government making cuts all the time I dread to think what might happen.

I moved into this flat six years ago from a flat which was not in such a good area but the rent was cheaper. I moved to where I am now because I lived here years ago and moved in haste when my Mum died as she lived near me. When I got this flat I couldn't believe that I had got back here again but I've worried about the rent ever since.

If it ever did come to where I couldn't afford it, it would be impossible to move because now there is a housing shortage where I live and people are bidding for properites and getting nowhere.

I feel I am driivng myself and everyone else who cares to listen around the twist with worrying about this.

Have you applied for everything you are entitled to?

That's still cheap op. I paid that for a studio in Kent in 2011

You’ll also get universal credit won’t you? That should help towards the rent because if a single person with help cannot afford £500 for a tiny one bed council flat a month rent we are all fucked basically.

I'm not entitled to anything now as I earn a good wage. Once I retired I won't be entitled to anything because I will get a work pension.

You might get help with housing benefit.

No I won't get Universal Credit when I retire as I'll have a work pension plus the state pension, I won't get housing benefit either.

Do you have other large outgoings?

That is very cheap rent compared to the private sector. I might be pointing out the obvious but wondered if you might find it helpful check against worrying thoughts- you’re very very lucky to have a council flat.

With respect. It's 499. That is less than I paid in 2010 for a 1 bed in the SE. Its a steal. With a state + private pension you will be in a good position.

You must have a good amount left over per month as a potential cushion?

In the space of 3 weeks my internet, council tax, house insurance and energy has hone up by a combined 150 per month

My mortgage is up for renewal next year and itll likely increaase by c. 400 quid

Its life. You cut your cloth accordingly.

youre in a privileged positin.

I'm not sure what you're wanting people to say?

You are truly going to get slaughtered here. That is so cheap.

If you have a work pension and the state pension and earn a good wage now you're unlikely to be in a position where you can't afford that level of rent. It's surely unlikely to go up so much that you won't be able to manage.

I understand you are worried but that is incredibly cheap for rent. So I am struggling a bit for sympathy. I am on a low wage on my own and I pay much more so I would try and put it in perspective. If you are going to be on a good pension and a state pension you will be fine. In a better position than most!

If you’re not entitled to benefits, you must be earning over a threshold deemed as “liveable” (I know that’s not always the case)… same when you retire. This is worked out with local housing costs in mind. Private rents are soaring way above lha rates and benefit calculations are accounting for, but council properties are affordable. If you can’t afford the council rent on your pension, you will either be entitled to benefits or overspending somewhere. You will manage, much more comfortably than anyone who is renting privately.

what are your pension predictions looking like? Most banks have a calculator on their website. It may put your mind at rest seeing your predicted monthly income

Your rent is unlikley to rise faster than the triple locked state pension. Plus you have something that seems right sized for a retired single. I am not sure you will find anything better and cheaper

Kindly, I think the bigger concern here is not your rent but the anxiety you feel and would probably feel whatever your means, unless you won the lottery.

Its a worrying time for 99% of people right now.

Ok OP - let’s presume state pension plus private pension will give you around £2k a month - even if it went up to £600 plus say £420 for bills - still leaves around £1000 just for food and extras - I’m not sure why you are panicking - and that’s doing no work - you might go and do a small bit of part time and get another £500 too

That's very, very cheap rent OP.

I understand that sometimes worries can spiral, but you have a council flat (so I assume a guaranteed tenancy?), a 'good wage' and will be getting a private pension on top of your state one when you retire. No one is going to be doing away with the state pension in your lifetime, if that's what worries you.

I was paying over £400 a month for a room in a shared house in the late 90s. I think you'll be ok, but it's probably worth looking at ways you can help your anxiety in the meantime?

No housing benefit if you get a work pension which I will get.

Without understanding what your income will be when you retire it is hard to comment or give advice.

Also, have you been saving for retirement onto of a pension, that's what most of us will need to do with high rents and mortgages.

We rent privately. Will never get on the property ladder. We currently pay £2850 a month th before council tax and bills. We will obviously down size as we get older and kids leave home. But renting in general will be harder to get as we get older.

So how much will your pensions add up to per month?

Come on, get a bit of perspective here. A one bedroom flat even in a shitty area here in the north west rent for £700 a month. You pay a relatively small amount in rent, you have a lifetime tenancy, and you have no maintenance costs!

But OP - you will be getting State Pension AND your Occupational Pension!

How much is your work Pension likely to be each month?

It actually depends on where she lives on whether it's cheap or not.

You say that, but where can you get a one bed (not studio) flat for less than 500 a month?