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Original poster

Retiring to London?

33 replies

Mascarponeandwine · 28/10/2018 20:28

Would this be a goer or a terrible idea? I lived in London in my 20’s, moved to the outer edge of a ‘shire to bring up kids. Still hanker after living back in the city but realistically not until the kids have left school and we are mortgage free (we’d be 55). Would we be mad to move back into town? Would have a budget of £500k and need to live near a tube station.

OP posts:
NotCitrus · 28/10/2018 20:32

Sounds incredibly sensible to me, if you can afford it. No need to drive, easy access to amenities, plenty of parks and countryside in easy reach.
I live in outer London and when I get old and need to downsize, might well go for inner London. The accessible flats on The Cut would be great.

Magissa · 28/10/2018 20:43

I always imagined one day I would live in the middle of the countryside, that was my dream. My DH being very laid back didn't mind where we lived. As things have turned out we are living in a very busy part of London which I thought I would hate but actually LOVE. We have been here for two years now and I can't imagine living anywhere else.

Original poster
Mascarponeandwine · 28/10/2018 20:45

Funny you should say that, I walked down Scoresby St last week (a street away from the cut) and there were some lovely terraced houses there. May be housing association I suppose by could see myself living there.

Thera also some houses opposite the Taper building on Long Lane that I like, but they’re further from the tube

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Urbanbeetler · 28/10/2018 20:49

I don’t think you could pick up much for 500k around there. You would need to look in a not-too-central area to have a decent 2 bed for that.

I do think London is good for retired people though. Free travel and museums/ parks etc. The only thing that might be hard is building a new base of local friends. You would need to be very proactive.

Urbanbeetler · 28/10/2018 20:50

Taper building apartments from 755,000

Original poster
Mascarponeandwine · 28/10/2018 20:52

I only have one friend local to where I live at the moment. People have moved away, and some i met whennkiving elsewhere. My friends are all over the UK, we travel to see each other atm (and generally meet in London and stay in a Travelodge!)

OP posts:
Original poster
Mascarponeandwine · 28/10/2018 20:54

What’s Canada Water like? There seems to be a few houses in the £500-£600k category

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BirdieInTheHand · 28/10/2018 20:57

This is my plan - I want to spend my retirement visiting museums, walking to the theatre, people watching on the south bank

RiverTam · 28/10/2018 20:57

There’s not much really at Canada Water (v good library, though) but good connections.

My mum always said she’d like to retire from the burbs to Marylebone High St, though she never did!

Original poster
Mascarponeandwine · 28/10/2018 20:59

There’s a nice 3 bed on Ann moss way near Canada Water station

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Urbanbeetler · 28/10/2018 21:03

You need to spend some time in London and look at areas for yourself. Can you do a house swap or something like that for a few weeks?

The downside of London is:

the crowds
The pollution
Crime
Can be anonymous and seem unfriendly - you need to find your people.

PaintBySticker · 28/10/2018 21:03

I think London is a good place to live for retired people for reasons given above - amenities close by, plenty to do, good (and free) public transport. You might need to make efforts to make friends though, it can be a lonely place. It would help to belong to a religious community (I don’t but I can see how it would make things easier to start a social circle).

RandomMess · 28/10/2018 21:04

I find London tiring but I'd do it if I could afford to! So much to do for free/cheap if you have the time.

corlan · 28/10/2018 21:11

I think it's an excellent idea. My dream is to retire to a flat in the Barbican - will need to win the lottery first!

CherLooksYoungerThanMe · 28/10/2018 21:15

Yes, as above, I have a dream of retiring to the Barbican. The mother of a friend of mine retired to a small flat in Bloomsbury and loved it. I think it's a great idea. I'm currently in outer London but would love to retire centrally.

Jolliett · 28/10/2018 21:27

My neighbour did this.
He was a businessman, often worked in London but the family home was in the Home Counties.
When the kids grew up and left, and they retired (age about 60) they moved here (zone 1).
They have the time, freedom and money to do all the cultural things they love. They also do voluntary stuff (he is a governor of a local school, she volunteers in the food bank and night shelter)
They have made friends, enjoy not having to drive, and feel reassured by several fabulous hospitals nearby for if their health deteriorates.
I think it seems a top idea!

allthatmalarkey · 28/10/2018 21:29

One of my relatives (mid 70s) is doing this.
I used to work for an older people's charity and visited lots who were struggling. It really frustrated me seeing people stuck isolated in villages. I wish more people would plan for retirement in cities where there's much more to do, more ways to stay connected to others and it's much easier to access care and other services if need be.

nauticant · 03/11/2018 19:55

Ooh, OP, you're describing my dream. In fact this evening I've been browsing Rightmove.

With a similar budget (maybe pushing a bit over £500,000) the idea of a decent house further in than Zone 4 looks like a fantasy. I was wondering about Edgware or other end-of-the-line places. But hoping to identify somewhere that's not rough.

onemouseplace · 03/11/2018 20:00

I've had this plan for a while - we are in Zone 3 at the moment, but would love to downsize as centrally as possible when we retire for all the reasons previously stated!

TheWitchsCatFromOuterSpace · 03/11/2018 20:06

How about a northern city where you would get similar benefits of being close to amenities, but more house for your money? I would love to retire to York or maybe Edinburgh. In reality, it would depend where my dc end up living.

Urbanbeetler · 03/11/2018 20:08

A small house or flat is enough for many of us as our families start to have families of their own. Actually it is easier as well as cheaper to run, and frees you up from chores. The advantage of London is amazing transport which is free. I do hope that perk isn’t taken away before I reach 60.

Urbanbeetler · 03/11/2018 20:09

And you have an excuse to get rid of all the STUFF that accumulates over the years.

Chewbecca · 03/11/2018 20:10

We've fantasised about retiring to the Barbican too!

I like the idea of theatres, museums, restaurants, public transport on tap.

My only worry is lack of community which is why somewhere like the Barbican appeals. I would join lots of clubs and groups to try to create my community.

So, no, another 'not daft' verdict from me.

Urbanbeetler · 03/11/2018 20:13

We are in an amazing little place in London with a very special sense of community. It does exist. But you have to find your people. They are likely to be out there- perhaps harder if you are introverted or shy.

Leafyhouse · 06/11/2018 14:37

The two things that are most expensive about London are the cost of housing, and transport. But if you've paid down the mortgage, and got a Freedom Pass, then I think the benefits definitely outweigh the disadvantages. OK - there's still the oft-cited problems of crime, air pollution and noise. But I'm an optimist - I think the air pollution will improve (Sadiq Khan seems to have the bit between his teeth on that one), the crime is - well - just something to learn to avoid, and as for the last one, I actually live for the noise! Not everyone wants to retire somewhere quiet! :)