Can you retire to London?

[YoureRockingTheBoat]

The thread about the parents who are upsizing has prompted me to reflect on one of my own ambitious ideas, because I’m thinking it doesn’t involve downsizing, financially speaking.

I’m single, living in a two-floor flat that I paid c£750k for in an expensive city centre. I’ve pretty much always lived in flats/terraces, and in fact I regret that this one has a garden. So I am pretty clear that I don’t need the amenity that comes from a ‘house.’ I’ve divorced and am not at all sure what I want from life, but one thing I do often come back to is that I’ve never lived in London.

Clearly I have to measure for myself my own piece of string, but for the sake of argument - do older folk have cool tiny homes in London and whereabouts are they located?

Yes they do and in all parts of London. Londoners just downsize where they are.

Which bits of London do you like?

Yes, of course. I know loads of retired people in London, some of whom moved here from other areas in the country in retirement . They live all over, usually in flats, sometimes houses.

That’s my plan! Would love to be in walking distance of the West End

My idle dream is a flat in the Barbican. On my own. Maybe DH can occasionally visit. Maybe not!

I grew up in a flat in zone 1 London and my parents moved to a house in East Finchley when they retired.

We've considered it - for the free transport and free entertainment, and great hospitals - but prices are still too high for us. If you have the means then do it.

Yes it’s a great place to be retired. No need for a car, great public transport, great hospitals, so much to do. Older people live all over.

Londoners may wish to correct me , but ime the cost of basics like supermarket groceries can be higher in Central London, and I imagine the same would apply to service charges on a flat, so it would be worth considering your income as well as capital. But if it’s affordable, what a great plan. West Hampstead is a nice area with lots of older people.

I am retired and live in a 2 bedroom flat in London after divorcing in 2012. It has everything I need on the doorstep. I live in Putney and it takes 20 mins by train to central London. I have great transport links, proximity to hospitals, doctor and dentist surgeries, green spaces like Putney Heath, Wimbledon Common, Richmond Park and the Thames. London has all the shops, cafes, museums that anyone could ever want. Service charges on flats can be high so watch out for that but counter it with free public transport ... no better place to retire to :-)

they all live in the Barbican!

Wow yes so much to do. Just check service charges and give yourself plenty of spare and go for it!

Yes they do. My FIL and his mates live in z2, they are single for various reasons and spend their time attending lectures, going to sports events, visiting museum exhibitions, LHR is close so holidays are easy, many nights in the pub and various societies. Healthcare is excellent, you can get tesco delivery but aldi etc harder to get to. But yes watch out for service charges and lease extensions!

Gosh, yes - that's my dream. But I currently live in a much cheaper place, so not sure that I'd be able to afford it.

Retirement in London is brilliant and you can definitely afford a flat here. Even a small house.

So much to do that is free, you get your 60+Oyster card and then Freedom Pass for free travel. Great rail networks so a Senior Railcard means you can do a quick day trip to the coast very cheaply.

Loads of community activities, wonderful parks: do it!

In your shoes I would find somewhere within walking distance of a good cinema (e.g Picturehouse or Everyman), a leisure centre and a great park - and with good quick transport connections. Tube, Thameslink or Overground are good, or a fast train.

I am staying in London: I have no idea yet where Dc might settle but wherever it is London is well connected by train and road so more chance of visits than if I retire to the SW, and they end up in NE, for example.

I’d echo the sentiment that you need the income to make the most of it - if think it would be a well set up place to retire to if you’re into culture etc but to make the most of it having the money to spend on plays, concerts galleries etc would be needed.

I'd love to live in zone 1. I think everything would be more expensive. I think you need to be within walking distance to a supermarket too.

If you live here and are retired you can make the most of quick offers. I haven’t paid more than £20 -£25 for theatre tickets (popular shows) for ages. You can sign up for various cheap tickets and seat filler lists and do a lot for not much.

With Picturehouse membership you can see films for £5-20 on Mondays and lots of Matinees, plus get tickets for free previews. Also free tea and coffee before 5pm in the week.

The big galleries are free except for special exhibitions - and often have free specials too. Loads of free lunchtime concerts.

And if you live here you don’t need to add dinner to the cost of a theatre trip.

I've got lots of over 60s I know in London- several around Richmond, 1 in Marylebone, 1 in Fulham, couple in Hampstead/belsize and 1 in Fulham

Depends what you value- green space, river etc or 'stuff' on doorstep like theatre etc- also if you want to release cash or spend the same as your current place- done have a huge 1,bedder, others smaller 2 bedders. It's easier to get to know others in places like Wimbledon village or Richmond or Fulham than it is in big anonymous central blocks in my opinion- depends if that matters to you

I was googling the Barbican the other day. Some apartments are about a million but you can get a 1 bed retirement apartment for just about the price of my 2 bed house. I would love it!

Groceries would be expensive but I think I could eat very cheaply if I lived on my own. I’m not into cooking particularly anyway.

Barbican gets my vote too! Am a definite fan of Zone1 living (lived in Clerkenwell back in the day ... pre it being mental expensive). You can walk everywhere and these days with online shopping cost of groceries is the same. Access to amenities and also some of the best specialist hospitals etc.
Personally I've always found London neighbours to be friendly too

I know 2 friends parents who “retired” to Marylebone and Russell Square…

I think it’s cool if you can afford it

They wouldn’t be. You get a delivery or there are plenty of normal supermarkets

PILs were horrified when they were asking if we planned to retire (still 20 years or so away) to somewhere like Pleasant Seaside Town and we calmly informed them
that no, we'd discussed it and decided that closer in to central London (we're currently zone 6) would suit us best.

So much free stuff to do, so many interesting corners to poke around, easy public transport, easy access to healthcare, easy access to airports for travel. It wouldn't suit everyone but will suit us down to the ground.

I live in an outer London borough, I always think would retire further in to London not out. Like pp have said. cheap theatre and other stuff to do, free travel (probably stoped by the time I get there)

There was some recent research and 6 London boroughs made it into the top 10 places to retire due to amenities and transport.