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Original poster

What's the point in buying a house (with £thousands in interest) only to lose it to pay for your social care?

113 replies

milleniaaal · 20/08/2023 23:13

Genuine question.

I'm a Millenial and I've recently learned that if you need some sort of care in old age for things like mobility issues, carers or you need 24 assistance, care home etc. then the government can literally take your home, sell it and use it to pay for all of those things.

It doesn't make sense to me that this can happen after you've paid years and years towards tax, NI and council tax etc.

OP posts:
satellitesunshine · 20/08/2023 23:15

when i worked as a home carer my manager kept bringing this exact thing up too. saying if there was one thing she’d learned from her job it was spend your money rather than worry about saving it, because you either sell your house to fund care or the government cover it

Mincepiesandwine · 20/08/2023 23:16

Depressing isn't it.

MuggleMe · 20/08/2023 23:17

Because the majority of people won't need to pay for care, because you usually have decades of paid off mortgage before you do need to pay for care, and because it can pay for a higher quality of care than without going private, and it gives you more security than being beholden to a landlord.

Thethingswedoforlove · 20/08/2023 23:17

You get to live in your own house for probably decades. You might not need care. And if you do you can choose where you want to go for that care. And why should the government pay for the care of those who can afford to pay for it?

Floralnomad · 20/08/2023 23:19

The majority of people do not end up in care homes and it’s a better option than being elderly and having to rent with the possibility of having your home sold from under you etc .

Xrays · 20/08/2023 23:20

Not everyone will end up paying for care. Some will die before then for various reasons. Some will qualify for things like nhs funded hospice care or continuing healthcare (like my Mum who died of copd, Crohn’s and bowel cancer- she was admitted to a nursing home fully funded by the Nhs / council as her home couldn’t be sold in time to provide the care she needed). So many threads on Mumsnet where people assume they’ll have to sell houses to provide care but in my experience of losing 4 close relatives that’s not happened to me yet.

Enoughnowbrandon · 20/08/2023 23:20

Well if you're in a care home, you won't need your house to live in, and someone needs to pay for your care? 🤷‍♀️

Hungrycaterpillarsmummy · 20/08/2023 23:20

You are investing in an asset. You may use the asset to pay for a higher quality of care or you may leave a house to your offspring.

Are you saying you'd prefer to pay rent and have nothing to show for it at the end of it or would you prefer to pay a mortgage and own a house at the end of it?

pinkdelight · 20/08/2023 23:20

You buy it to have somewhere secure to live for the majority of your life. You may not need care but if you, the money from it then funds somewhere for you to live for the rest of your life, with more options than if you couldn't pay for it yourself. There's also an amount that they can't touch which becomes your savings to potentially be passed on to your kids, but mainly it's all about keeping a decent roof over your head. Sure you can rent but no doubt you're aware of the difficulties involved in that, so people tend to prefer to buy if poss.

It's really not such a headscratcher.

Hadalifeonce · 20/08/2023 23:20

In your scenario, OP, what should happen to your home, which you are no longer capable or safe to live in?

Tree12 · 20/08/2023 23:21

You can protect half the value with a property protection trust if someone else is on the deeds with you.

LooselyBasedOnAMadeUpStory · 20/08/2023 23:21

My mortgage is half the amount that the renters over the road pay. I only have a decade left.
When I retire I will be spending my pension on lots of lovely things because I won’t have to pay rent.
If I need a care home in my old age I won’t need my house. I would like to be in a nice care home where I’m comfortable. I am happy I will be able to have the funds to be somewhere nice by selling my home.

pinkdelight · 20/08/2023 23:23

Also if your marriage partner outlives you, they stay in home even if you're in care. There's all kinds of scenarios that don't involve your home being sold for care, but even if it is, how else should elderly care be funded? We have to pay for it one way or another and it's not cheap.

titchy · 20/08/2023 23:23

Why are you repeating exactly a thread that was posted a few days ago?

Given most people won't need to sell their house to go into a care home it's fairly obviously the much more sensible option. Plus you can downsize and spend what's left on flash cars and holidays. Secure in the knowledge you won't get evicted.

KievLoverTwo · 20/08/2023 23:24

This question gets worse when there are two people involved. What happens if there is an age imbalance, say 70 and 85, and one of you needs to go into care?

LifesIsABeach · 20/08/2023 23:24

You be smart and get rid of it before you get to old bones.
Plus most people don’t go into care homes

ThreeFeetTall · 20/08/2023 23:26

People who rent also pay income tax, NI and council tax?

EscapeRoomToTheSun · 20/08/2023 23:26

MuggleMe · 20/08/2023 23:17

Because the majority of people won't need to pay for care, because you usually have decades of paid off mortgage before you do need to pay for care, and because it can pay for a higher quality of care than without going private, and it gives you more security than being beholden to a landlord.

I don't think this is true for most people any more. Mortgages are very long now, and surely most people do need to pay for care? Families are getting more fractured rtaher than less. More women are working. There is no one else to do the caring.

titchy · 20/08/2023 23:26

KievLoverTwo · 20/08/2023 23:24

This question gets worse when there are two people involved. What happens if there is an age imbalance, say 70 and 85, and one of you needs to go into care?

You stay in the house while your dp goes into a home. When you die the LA takes half to pay for the fees. You're not forced to sell.

wonderstuff · 20/08/2023 23:27

You definitely want to pick your own care home should you need to.

My mortgage is much, much less than rent equivalent and is reducing over time while rent will always go up. If you’re renting your landlord can give you 60 days notice to leave, with a mortgage you have more security.

titchy · 20/08/2023 23:27

85% of people die having never set foot inside a care home.

TotalOverhaul · 20/08/2023 23:29

My mum is in a gorgeous private care home. very small, good staff to resident ratio and good staff retention. Great food, loads of entertainment, lovely garden. Owner always on hand and friendly. Pets allowed. Visitors welcome all the time. I am glad she had a house to sell to pay for this. I have friends who work in care homes and the state funded ones are grim.

Thewolvesarerunningagain · 20/08/2023 23:29

The point for me would be that legally I cannot then be forced into a care home. I’d rather die at home than that. But renters have fewer protections in that respect

Clefable · 20/08/2023 23:29

Because the vast majority of people don't need care. Recent figures have about 15% of those over 85 living in a care home.

Runnerinthenight · 20/08/2023 23:31

Hungrycaterpillarsmummy · 20/08/2023 23:20

You are investing in an asset. You may use the asset to pay for a higher quality of care or you may leave a house to your offspring.

Are you saying you'd prefer to pay rent and have nothing to show for it at the end of it or would you prefer to pay a mortgage and own a house at the end of it?

^ this!

Neither of my parents needed care. I have 8 uncles/aunts on my dad's side, and 4 on my mum's side, and none of them ever needed care. Neither did my ILs or their parents or my grandparents... in fact if I think of all my neighbours growing up out in the country, none of them ever moved into care homes!

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