Has anyone bought a large house to retire in

[Alicecatto]

Most people downsize when get to be about 60. We are thinking of upsizing because DH received a nice inheritance, and we never did get to have that dream home. We had a fixer upper which we fixed up. It is a perfectly nice detached house on a 1/2 acre. But, we have the opportunity to buy an amazing house on 8 acres… a small holding really, which we dreamt of for years. Our friends are telling us we should stay put or downsize, invest all the inheritance, and that way we would have no money worries, could pay for a luxe care home later etc.

The thing is we have done all the saving/pensions/investment stuff already, we travelled a lot by camping and caravanning earlier, so did most of what we wanted to do, we don’t have kids to leave our estate to (it would go to charity)…. I’m not quite seeing the allure of a small bungalow with a lot of money in the bank.

Did anyone here upsize in retirement?

I presume you are fit and healthy at the moment, so could cope with all the maintenance and so on? I know plenty of people in their 60s who could do all that, but you won't stay 60-something for ever.

Would the inheritance also cover staff to look after the house and land, and eventually also cover live-in carers for you?

Are you looking at this as a rest-of-your-life property, or would you be prepared to look at it as a 10-year experience, and then downsize before it all gets too much for you?

I am in my late 50s and am downsizing because I had to prop my parents up for a couple of decades of them refusing to leave a large house with a big garden when they could not cope with it any more, so I am trying to do the opposite.

Hi we moved had a large detached house, looking to downsize , we hated the small space properties we saw, bought a large house that needs some updating but in a lovely peaceful lane after living on a busy estate, we are over 60 no regrets , age is a number nothing says you have to downsize because of your age, go with your heart, and enjoy.

Go for it op. You've done sensible by the sounds of it! 60 is still young enough if you're both healthy!

You can always downsize later if you ever need to.

I think if you can afford to pay people to look after the land and have a cleaner to look after the house it should be fine, personally I would do it but only until about the age of 70 when I would want a swanky apartment overlooking a harbour. So yes I would do it for ten years, live the dream and then move on to the next phase of my life, I certainly wouldn’t want to be running a small holding and looking after animals in my later years.

My parents upsized in retirement. They had an adult DC still living with them. And had the money and wanted to be able to have everyone to stay. Kids, partners, grandchildren. It was a good move for them.

It sounds like you have the money and would enjoy and want this so why not? Sure it’s worth thinking about the maintenance/work/what it would look like and what you’d do if one or both of your health deteriorated. That doesn’t mean don’t do it, just think through - would you get help/downsize?

Eight acres is a lot to look after. It's hard work and time consuming. You'll need a mini tractor and/or ATV plus kit. If you're thinking of livestock, ditto. Just make sure you do your homework first. I put it on a par to owning a yacht - you can literally wave your money goodbye - there's always something that needs fixing, feeding, cutting, planting, draining, watering etc.

I've lived in the big house with the big garden and land. It's nice to have a bit of space, but you pay for the priviledge. I certainly wouldn't do it in retirement, but if you're fit and have sufficient funds, give it a go if it's something you've always wanted.

Not to 8 acres but we bought a house twice the size with 5 times the garden and moved to France when we retired, I was 53 he was 56. The main issue is more house to clean IMHO. Which is a PITA.

Go for it, what’s the point on sitting on money when you can be happy spending it on what you want. Fair enough if money becomes an issue later on readdress it but for now why not!

Not going to be upsizing to 8 acres but are hoping to buy a house with a couple of acres in a couple of years. I will be 60 and DH will be 58. I want a cinema room and room for a much bigger gym. I really want one of those small pools that have jets in for you to swim against. We are both just retired, DH has just joined me and we intend to travel extensively for 2 years first.

You are right. Four acres of it is traditionally leased to a farmer who cuts for silage and runs his sheep on it, and we’d get paid in lamb and firewood. So that leaves four acres to tend. The rest of the property is to lawn with an orchard and an old piggery which we are putting solar panels on but we get these wholesale due to DH’s business. We’ll put in a ground source heat pump and priced that. Also It comes with a ride on mower. There are no veg or flower beds much to speak of. I do want a polytunnel to grow veg and priced that out.

The house itself is not that much bigger than our current one (about 15%) , and we could stretch to a cleaner if need be and a gardener. If it got too much we would sell. The people who own it are 80 and moved in when they were 60 and downsizing, and I think it would be similar for us as we are both active and in good health.

Sounds lovely for you!

having moved to a big house and garden in my early 40s, I would say that I’d make sure you can afford a cleaner and gardener. Otherwise it’s a LOT of hard labour for you.

Think through some worst case scenarios. If you fall and break a leg, how fast can you get an ambulance. Can you get a bed and bathroom downstairs if needed? If you need specialist care, how far is it to a specialist heart or stroke unit? Are you prepared for being flooded or snowed in?

Go in with your eyes open as life can throw random stuff at us all.

Thanks for the salutary warning. I’ve been chief cleaner and gardener for our present place, which has a lot of flower beds and hedges, and I regularly do an hour a day in the growing season to keep up with it. This place just has less stuff going on…more open views of rolling hills and meadow. I think I will limit the flower beds just because of all the weeding, mulching, etc.

Thanks for this. Yes, we can get an ambulance OK. It is no more isolated than where we are. now. There are two good hospitals in either direction about 20 miles away with specialist care. There is a full bathroom downstairs already, and a dining room could be turned into a bedroom easily. The house is on a hill, and the land slopes downward away from it. Snowed in is a good question, but it is on a gravel drive set back from a B road that is maintained, so we aren’t down a farm track like we are in the present place. Our neighbours are also major landowners, and they clear the road for the estate. The mower is like a mini tractor and you can fit a small plow.

I would go for it! Robot mowers have been coming on in leaps and bounds and can cope with slopes and large expanses - you may need more than one for 4 acres but some careful planning for low-ish maintenance planting will pay dividends.

I'm tempted by this idea, we've stayed in a smaller house than we need to for various reasons and the logic for us is that we will be spending more time at home in retirement and want hobby and entertainment space, our DCs are likely to still be with us for a while yet and if they do start bringing home partners it will be very cramped (they both have small bedrooms and we only have one bathroom).

Go for it, staying active in your later years is really good for your health! My great grandmother worked until she was 97 or something outrageous like that, one day she was in the potato fields and felt dizzy so we went inside to lie down - and then died. Was healthy as an ox up until that point!

My in laws did this 20 years ago (although “only” 3 acres of land) and it was fine for the first 15 or so years. Then FIL had lung cancer and sadly died and it’s been a real struggle for MIL as it’s too much for her (she’s now trying to sell but it’s not shifting). I would say go for it but be clear eyed about the circumstances that would mean you need to downsize and ideally try to do so before crisis point.

Oh, I get that. I think the seller’s husband has started having ill health and that is why they want to sell up. But something to think about for sure.

I never thought about getting a couple robot mowers. That is an excellent idea for which I thank you.

I think it sounds like it'll be a lovely experience but be practical about a plan to cope when you are less able or how you'll know its time to move to something smaller. You need to make the decision slightly before you need to otherwise its overwhelming and too late and hard foe those around you making it work for you.

I have sort of.

I have a much bigger house. But it has a much much smaller garden (currently turning it from Astro to a proper garden) and is in a small town so I can access shops, GP etc when my car gives up (it's currently in the garage again)

I have lived in a house with a big garden, and it was a lot of work.

I think as long as you are going in open eyes it's fine, but bear in mind that circumstances often change quickly.

Yes, that is a good point. I wish we would have come into this money about 15 years ago, but never mind. I’m grateful to live the dream even if for a decade or two.

OP we are building in our 70s and aren't really upsizing but having the space arranged to suit ourselves. We are going from a five bed to a two bed with roughly the same floor area. A property developer would have a fit....but we aren't interested in resale value. Agree to having a good downstairs bathroom. We are also having a dumb waiter as we are putting a living area and bedroom upstairs and we have a large book collection. No passenger lift, as stairs = exercise but chairlift could be added if needed.

This has been a chance to plan our "forever home". Family next door so no worries about gardening. Current house has one acre, new house half that, but we are planning it for extremely easy maintenance. It is very rural but lovely neighbours scattered about. I go out to the plot and a feeling of peace descends.

I would say go for it!

We have a robot mower as well.

Bearing in mind that the first summer we were here we had 4 months of 40 degrees C plus, it was impossible to get out and mow the lawn so we invested in a robot mower.

We upgraded last spring, and now have a GPS one. And what a difference from the wired one!

He does the lawn in stripes so doesn't miss any and does about 1500m2 in one day. We then get him to go to either side and he does next doors on both sides. So the wear and tear is less because he does so much more each time and doesn't just trundle along in haphazard fashion.