Still renting age 54

[LilyAnn13]

Does anyone else still rent?

I hate that I am paying dead money, but I´ve never been in a position to buy.

I grew up poor and whilst I am in a good job now, and have managed to save a little money, I have never had inheritance or bank of mum and dad to rely on.

I hate that I don´t have a property as a future pension, and wonder if anyone else is in this same predicament....?

I´m 54 years old and it´s hard to hear your young colleagues talking about a property they`ve just bought and money they are spending on decorating or renovating it.

😕

You can be very vulnerable at pension age if you rent. I have a relative who never bought a house & couldn’t afford private rent on her pension. She’s been housed in a council flat, but honestly it’s grim. Drug user neighbours, noise all hours & dirty outside. It’s very sad but she has no choice.

Yep,this is what I'm worried about

@InAtHome

This poster has made interesting comments.
It is assuring to hear these life tenancies are now rare.
Personally, I feel this poster has done well for providing his kids with private education. He probably also has savings which he gives and will leave them, but that is a different issue.
Many people choose to buy properties so their kids can inherit it. This poster chose to give them a private education.

This poster will always be catered for by the gov. If he finishes all his savings by carefully using it and giving to his kids, the sate will also pay for his care.

Personally, I won't sleep well at night thinking I have won against the system.

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Then the general Q. Why is it a problem that someone who needs care must sell their home, they worked hard to buy, to pay for their care? Who else must pay for their care if they have means to pay for their care? Some may not come back to that house, so why should it not be sold to pay for the accommodation they are using and need?

Also, is it a case of saying those on benefits all their lives- which includes those with lifetime subsidies like life tenancies- are on one group and they may not pay for care or pay for full care. Therefore everyone in UK from age 60 regardless of their means must receive free care. Why is that proposition a more acceptable one than that those who have assets they can sell, pay for thir care? Is it about fairness? Fairness to whom? Do taxpayers get a consideration at all?

It's actually a really small percentage of people that end up in care homes. For some reason mumsnet seems to think most people do but it's really not the case.

I don't think your attitude is good, growing up poor and having no inheritance are barriers yes. I'm 31 and grew up in children's homes, homeless accommodation, etc and I bought on my own at 27.
I think it is quite dismissive to say other people only manage it through privilege.
I have a colleague who bought last year at 57, she had a very good mortgage advisor who helped her work out and apply for a special scheme. If you're set on ownership I would consider something like this, but she is a bit of a slave to her mortgage currently and won't be able to retire until her 70s so I would think hard about what you actually want. Social housing may also be an option I suppose.

I think it is quite dismissive to say other people only manage it through privilege

Agree and I hear it often.

Dh and I both grew up in families without a pot to piss in. No inheritances or bank of mum and dad here.

How the other half live, mind boggling really.

I have also seen the stress of friends and family who do own their own homes, and quite honestly, I wouldn’t trade theirs for mine.

Still... at least they got to choose their house. You didn't.

You have all this, courtesy of the tax payer. This is not what social housing is for. What's worse is that you abuse such a system and brag about it showing no shame. You are an example of CF and freeloader imo.

It's also the fact they seem to think they deserve a pat on the back for their "choice". Nobody is that tone deaf surely 🤦‍♀️

I wonder how people who don't buy a property manage to pay rent on a pension when most home owners have paid off their mortgage? If we had to pay to rent it would take a massive chunk of our pension income. As it is we don't pay a mortgage as it is now repaid so housing costs free. Do non home owners qualify for housing benefit?

To answer your question I don't know how long you have had a well paid job but if you managed to get to 54 without managing to buy then were you prioritising other stuff like travel, kids or cars etc or was your rent so high you couldn't save for a deposit? Many people buy without an inheritance or bank of mum and dad although I agree that helps.

My daughters friends who haven't managed to buy are the ones who started their family early so saving whilst raising kids is a struggle.

If it's means tested then where is the incentive for anyone in SH to earn more? Nobody is going to risk losing their secure tenancy for one where the landlord could sell up at any time.

I'm 62 with a long term health condition and have DD27 with multiple disabilities. We are not allowed to apply as we are decently housed. It's not like it used to be.

It all depends where you live re social housing.

I live in SH - I moved here from. Refuge . I have a teenager who has additional needs ..

so don’t foresee my circumstances changing anytime soon.

i work 32 hours a week . I get no benefits for my Ds as he should be in college or apprenticeship . Neither worked ..

I am 54 … so won’t own my own home…

i think people don’t realise SH gives security but aren’t massively cheaper than rent . I probably pay £100 a month less than average rent in the area..

I think the housing stock has reduced dramatically . This is the issue ..

I did own a house for a couple of years . I was terrorised in my home by local teens - it made me really ill . House ownership isn’t all it’s cracked up to be

Are you renting from a housing association though? In my area, properties rented from the council are less than half market rent. I know they're much more expensive from a HA however.

Meanwhile 1000s of families are in travelodges for months on end.
I completely disagree with lifetime tenancies for this reason, you've improved your situation and now enjoying a high standard of living because you're benefitting off a scheme for the most vulnerable. 🙄

Yes it’s HA.. They took over all council housing in our borough - a very long time ago.

Actually, assuming the prices listed on Home Swapper are accurate, they're actually a 3rd of market rent in some cases, for comparable properties.

Circumstances change. I am 50 and rent. I did own a home with ex but we had nothing in it as we split in the last 2008 and only just broke even.
I have considered a lodge as current SIL lives in one and loads of people retired in them. Her ground rent is minimal and she paid 75k for a fabulous lodge.
I have made peace with not owning a home. This may change in the future. What I want to know is most people in Europe rent so what do they do when they get old? They still have rent to pay.
Try and look at the positives. I see friends spending thousands maintaining their homes and I don't have that. Look up Grant Cardone. He makes it clearer why owning is not always the best option.

I was allocated based on the relevant criteria - and presumably after those in my area who were vulnerable and eligible had already been housed.

That wasn't really my point though was it?
You seem intelligent enough, so I am sure you are choosing to avoid it.
It's immoral what you're doing, but your choice. You can't pretend your area doesn't have families waiting in temporary accommodation whilst your kids enjoy private school and you take multiple holidays, partly funded by state provided subsidised housing.

I blame Maggie Thatcher! Should never have bought in the Right To Buy!!