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Retirement

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Original poster

Private renting and retirement

12 replies

Princessfluffy · 26/03/2024 08:20

Unless you have a really good pension income how can anyone retire if renting privately?

My local authority will pay a rent contribution but in my city this tops out at around £750 a month for a one bedroom flat and this would only cover a room in a shared house, a one bedroom flat is at least £1250 a month.

I just don't see how this will work 🤷‍♀️

OP posts:
IsEveryUserNameBloodyTaken · 27/05/2024 16:47

You either don’t retire, or retire and understand that you will have to move to an area and house/flat size that can be covered by the housing allowance paid by the government.

Miley1967 · 27/05/2024 16:55

I guess if you have no job tying you to the area you will have to move somewhere cheaper as you clearly can't afford to live there. You could also try your local authority as over 55's housing is often easier to get than bigger houses, and is likely a lot more affordable.

caringcarer · 27/05/2024 17:29

You could move somewhere cheaper.

RacingLine · 27/05/2024 17:43

Static caravan parks

makeanddo · 27/05/2024 18:41

Yep this is (one) of the next big issues, it'll be a crisis like no other. People living in rented and either working and paying or getting their rent paid in full or through top ups.

Many are just getting by can't even afford to pay into a pension. Now pensioners get pension top up but this will be unsustainable for the volume of people. It's very worrying,

Abitorangelooking · 27/05/2024 18:44

Over 55s LA accommodation. It seems to be the only housing stock permanently available with no waiting list. A small one bed will be £60-£70 a week where I am.

Octavia64 · 27/05/2024 18:46

Many people move when retiring.

It used to be common to retire to the seaside -my grandparents retired to Bournemouth.

People who own often downsize so I guess people who rent could also move?

Miley1967 · 27/05/2024 19:46

makeanddo · 27/05/2024 18:41

Yep this is (one) of the next big issues, it'll be a crisis like no other. People living in rented and either working and paying or getting their rent paid in full or through top ups.

Many are just getting by can't even afford to pay into a pension. Now pensioners get pension top up but this will be unsustainable for the volume of people. It's very worrying,

Yes so many people have been priced out of the housing market with all these buy to let landlords causing prices to rocket.. It really is a looming crisis.

Muddle200 · 28/05/2024 12:56

Anchor Housing Association among several but waiting list

IsEveryUserNameBloodyTaken · 28/05/2024 16:52

makeanddo · 27/05/2024 18:41

Yep this is (one) of the next big issues, it'll be a crisis like no other. People living in rented and either working and paying or getting their rent paid in full or through top ups.

Many are just getting by can't even afford to pay into a pension. Now pensioners get pension top up but this will be unsustainable for the volume of people. It's very worrying,

Absolutely this. One of the next big issues.

stilldumdedumming · 29/05/2024 21:43

Octavia64 · 27/05/2024 18:46

Many people move when retiring.

It used to be common to retire to the seaside -my grandparents retired to Bournemouth.

People who own often downsize so I guess people who rent could also move?

Not to Bournemouth though! Have you seen those prices? And moving away when you most need your family causes other problems to arise.

good96 · 01/06/2024 18:14

It all depends on the part of the country you live. Many sell up and rent during their retirement so that they can spend their cash….

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