If you are in your 50s and 60s- mortgage question

[CookieDoughKid]

Are you any closer to paying off your mortgage. If not, what's your plan?

We live in Didcot which is fine. It's got a lot of redevelopment happening and we have a nice family new build on an estate. We will pay it off in our mid 50s if we don't move to a more expensive house or expensive location. The house we are in is fine and convenient but it's not my dream house. If we do decide to move we will have to be working till our 70s or downsize later. If we stay we can comfortably afford our house on a single salary. Not sure what to do hence reaching out to more experienced folk here!

50 (me) 60 (DH)
Mortgage paid on our ' forever' home 5 years ago.
Trouble is, it is very large. 6 bed, 4 bath, also quite an old house. It is a money pit!
We both still work full time and have decided to do all we need to the house now. Then sit back & enjoy for 10 years. So are ploughing a considerable sum in to it, then no more.
DH will retire in 4 or 5 years. Me in 5-10 years.
DH has a very good pension. We will downsize in 10 years to something more manageable. (Maybe by which point the kids who will be around 30 by then, will need us to free up some cash so they can buy properties)
I just hope we all stay healthy to see this happen.

I think it is a difficult choice cookie. DH and I differ on it very much. He would love to stay here, 5 receptions, 4 beds plus a small one that I have my wardrobe in.

Fact is that there are three of us and this house needs cleaning, costs a lot to run, has a massive garden etc., etc..

We are planning on moving to a three bed, two receptions plus kitchen, utility and study. Small 40 ft garden with garage.

I will be able to walk or cycle to work, into town, etc..

My parents downsized after we all left for uni, in their mid 50s, lovely house, suits them very well still (now 80).

Big is not necessarily better when you are getting older imo. Location is more important and we will still have a lovely home, just smaller but in a nice place in town.

"The more I think about it, the more I think I am after a dream lifestyle rather than a dream house."

This, IMHO, is pretty much the key to happiness. Particularly if you understand "lifestyle" as wellbeing, happiness, and time to devote to things that fulfil you, rather than spending all your time doing unfulfilling things and then trying to compensate with purchases.