I don't understand the point in buying a home when all the fees go to care

[whatwhatinthebutt]

I hear 'you need to leave something to your children' but then what if it all goes on care?

You had a home that you had to maintain and repair, but you can't leave it to your children because you have to go into a care home.

It seems wrong or strange, because why are we told to do this if it's so likely it will all go before the children benefit from the hard work of the parent?

Care home fees seem to be something around 2 grand a week, so 10 grand a year. How long to people usually last in care homes? Is it oftentimes they die in there?

And how does it work? Say my dad goes into a home, they force me to sell the house to pay, I get a lump of cash, then just give that to the care home and I get what's left when he dies?

@Aposterhasnoname that is not going to be the case for many of my generation and many many many more of the next few generations. Mortgages are now being stretched up to 70 years of age!

But you have to pay to live somewhere, if you don't want a mortgage you would have to pay rent which can be more per month than a mortgage and there is no end date!

It's only something like 15% of people over 85 end up in care and a much smaller percentage for any length of time, so there's more likelihood of someone not going into care than otherwise.

it's not just care homes though a relative of mine & a neighbour are paying £££ for care in the home. they went private as there is a big shortage of workers. can't see the situation improving

People say it's the difference between a "good" and "awful" care home. Don't you think it's a total disgrace though that there are "awful" care homes? Such a thing shouldn't exist. Our older people deserve better.

it's like anything though; schools, hospitals etc

It isn’t pointless but I don’t think it’s fair. These days it’s the only way many people will own their own home.

I don't understand why people think they shouldn't have to pay for care?

taxes should go up to cover people who have no assets to pay for care. People with assets should pay for their own care but their estate should not be subsidising others.

So what taxes would you increase?

I think it’s more the point of my mum and dad’s friends earned and absolute fortune way more than my parents but burnt through it on cruises,cars and plasma teles
when the needed care it was funded because they had fuck all left
my mum and dads made different choices and because they had saved they got virtually no funding

also they scrimped to put extra into my dad’s pension now my mum gets the widows portion of that and is fractionally better off than here friend on pensions credits also because your on pension credits you get free stuff or help with things which my mum can’t even though she has only fractionally more income

You can't have a wedge of cash in the bank either that will also be used to fund your care home so what to do with all the £££ you've earned over your lifetime?

Someone with Alzheimer's could be in a care home for 5-10 years

But, not everyone ends up in a care home! No one on either side of my family has ever lived in one. Obviously you might have to if you get dementia but if not why not just live in your own home until you die, or move in with a kid if you get infirm?

I’m in social housing and wouldn’t consider buying it, even if we become able. For a whole host of reasons… I’ve told my DM to leave any inheritance I might have received directly to my children so they have a fighting chance. A council house is more secure than a mortgage.

Yes, that seems unfair but it's the same with lots of things through life. For example, if you lose your job but have over £16k in savings you can't get universal credit. If you have no savings as you spend all your money on holidays, cars, clothes etc you will qualify for universal credit.

Say my dad goes into a home, they force me to sell the house to pay.
But it’s not your house it's his. He would be selling it.
You buy a house to live in, to have as a home. If you buy young you pay off the mortgage eventually and live there for many years without having to pay rent.
If you are unlucky enough to need care then you have the funds to pay for it.
You don't buy a house thinking of it as an inheritance for your children, in fact most people don't even have children when they buy their first home.

What is a disgrace is that the local authorities pay a fraction of the cost for carers that self funders do.

A very important point is that the vast majority of older people do not end up in care homes. Only 15% of over 85s are in a home.

I'd rather the security and comfort of my own home that at the mercy of a private LL who can evict you with 2 months notice. Imagine that at 85.

Sorry, I've just seen other posters make the same point 😀

Most people have houses worth a lot more than they paid for them. Why shouldn't they contribute to their care from this unearned money

Can only claim carers allowance if you earn less than £123 a week. Maybe slightly less or more but it’s around that figure

My parents sold their big house and gave some money to me and sibling well in advance of their care-needing years. Thus enabling us to buy property which I expect we'll do similar with. Nobody in my family is trying to amass wealth, just hope to have enough for a deposit so we can have housing security and then do the same for our kids. That seems like a good enough plan to me.

The benefit of buying a house isn't just being able to pass it on to someone else. What if you didn't have children? Would you still think it's pointless to buy a house?

It wasn't about leaving a property for the kids. It's security and autonomy. No one gets to sell us out. If we want to move to new county we can.

Two of my friends rent and I just don't envy them. I'm sure it's wonderful if your in a council house but that's not easy. Even my lovely leafy village Has unpleasant areas I'd prefer to not next too.

I think I'm lucky to own really. I don't ever feel like I'm a bad position over renting.

I'm secure in social housing but not liable for things like repairs. I can buy but not sure it is even worth it

So taxpayers are funding you? How do you plan to find your own care home? Are you saving up for that? Or will you rely on taxpayers to bail you out again?

I presume this person pays both rent and tax, or do you think everyone on social housing sits on their arse in front of their massive tv's with their goat?

We need less social housing sell offs, not more.

You can ring fence 50% of a property you own so that they can only take 50% of its value to pay for care should you need it. A financial adviser has sorted that for my family.