Government to begin paying older people to downsize

[RETIRED2017]

I happen to know quite a few seniors that are keen to downsize from large family homes to modern apartments. It can make a lot of economic sense.

The problem they typically run into is a lack of suitable apartments in their desired location.

BTW the idea of forcing seniors to live with strangers in their own homes is bizarre.

I looked at moving into a smaller home within a few miles of where I live there is nothing around at present, There are lots more in the same position around where I live at present,
I actually rent out a few looked at selling one and buying one that I can downsize to at present, I will wait and see if John Moran is going to give me a hand,

 

[Early Riser]

Remember the UK has this... so not exactly unprecedented for a state to look at ways to increase use of the rooms it has available in its social housing stock:
https://en.wikipedia.org/wiki/Under-occupancy_penalty

Very true - it would be surprising if something along these lines is not proposed here. But it is for social housing. And I suspect the outraged will not be so outraged about this. Which is a bit outrageous - after all it is good to find something to be outraged about on a monday morning!
Oops - who is that knocking on the door - could it really be a mother and 5 kids moving in ?

 

[RETIRED2017]

Very true - it would be surprising if something along these lines is not proposed here. But it is for social housing. And I suspect the outraged will not be so outraged about this. Which is a bit outrageous - after all it is good to find something to be outraged about on a monday morning!
Oops - who is that knocking on the door - could it really be a mother and 5 kids moving in ?

The mother and her 5 kids will be knocking on your wage packet come friday and every friday from now on,

she will not want to live with you she wants a place of her own, Hopefully yours in time, With a little help from the missguided right wing and there fellow travellers,
Go no go on go on you don't really need all that space do you come on move on like a good taxpayer?, Your grand children can play on the landing if the come to visit ,

 

[Saavy99]

Is yours a privately owned house ? If so, where is the suggestion that you might be obliged to share it with anyone?
There is the rent-a-room scheme as an incentive. Do you object to such incentives being available ? Do you experience it as a threat?

100% privately owned.
Over the last ten years or so government policy on housing has seen an over reliance on private landlords with zero protection for landlords when tennents decide to stop paying their rent. It wouldn't surprise me in the least if the government don't try to push this in through the back door. As for the rent a room scheme, that's up to private individuals whether they want to rent out rooms in their house for monatoey gain but it's not for me as I said I value my home privacy too much.

 

[Early Riser]

100% privately owned.
As for the rent a room scheme, that's up to private individuals whether they want to rent out rooms in their house for monatoey gain but it's not for me as I said I value my home privacy too much.

Saavy, I was not suggesting you should use it. I was just giving it as an example of an incentive that is there (which some people opt to use) and asking if you have an objection to it. If not, then you do not have have an objection to incentives in general. So what might be your objection to an incentive for people to downsize, should they choose to do so ?

It wouldn't surprise me in the least if the government don't try to push this in through the back door.

Push what exactly through the back door? Are you conflating a proposal regarding social housing with a proposal re options for people in private housing to downsize ?

 

[Gordon Gekko]

It’s gas how these kites seem to pitch people against one another.

Like many people, I’ve taken the 48% of my surplus income that I’m allowed to keep and bought somewhere that I’ll happily stay in forever.

 

[RETIRED2017]

It’s gas how these kites seem to pitch people against one another.

Like many people, I’ve taken the 48% of my surplus income that I’m allowed to keep and bought somewhere that I’ll happily stay in forever.

48% ia away more than you need wait until the missguided right wing are finished of being taken advantage of ,

Wait until they are finished messing with housing and move on to the tax pension breaks,

The two back quarters have not being milked yet,

 

[Early Riser]

Like many people, I’ve taken the 48% of my surplus income that I’m allowed to keep and bought somewhere that I’ll happily stay in forever.

That is absolutely fine, Gordon. But none of us know how or when our circumstances might change, eg, health, disability, need to access equity for unforeseen reasons. It would be nice to think that there might be a lot more options for older people to downsize than there are now, eg, suitable apartments in central locations, low dependency communities.

And even if you never want to (or opt to) move, others may choose to do so for whatever reason. If it suits them and if it simultaneously frees up a family home, that seems like a win/win.

I am not sure why this seems so threatening to some.

 

[Early Riser]

....wait until the missguided right wing are finished of being taken advantage of ,

Wait until they are finished messing with housing and move on to the tax pension breaks,

And I thought it was the left wingers that were threatening the tax breaks! Do you mean they are all out to get us?

 

[RETIRED2017]

That is absolutely fine, Gordon. But none of us know how or when our circumstances might change, eg, health, disability, need to access equity for unforeseen reasons. It would be nice to think that there might be a lot more options for older people to downsize than there are now, eg, suitable apartments in central locations, low dependency communities.

And even if you never want to (or opt to) move, others may choose to do so for whatever reason. If it suits them and if it simultaneously frees up a family home, that seems like a win/win.

I am not sure why this seems so threatening to some.

Not threatening if you are already guaranteed some of the milk left in the last two quarters for your lifetime,

 

[Saavy99]

Not threatening if you are already guaranteed some of the milk left in the last two quarters for your lifetime,

Can you explain

 

[RETIRED2017]

And I thought it was the left wingers that were threatening the tax breaks! Do you mean they are all out to get us?

The right wing always get there before them, Left wing only threaten, It is Right Wing who have taken 52% and still rising,

 

[Tintagel]

I would consider downsizing if.

I don't have to pay stamp duty on my new house.
If I can get a low interest bridging loan to purchase my new home while waiting for mine to be sold.
If I don't have to pay property tax for at least 5 years on my new home.
If I can offset my apartment management costs against my property tax.
If I can find a suitable home within a half mile from where I presently live.
If I received some assistance toward my Estate Agents costs.

 

[RETIRED2017]

Can you explain

Now now It reminds me of the last time I was in Prague I was sitting out having refreshments one side of Charles Bridge when what appeared like a group of well to do young people came along all of a shot the started messing one pretended to throw one of there comrades into the river while the rest in the group robbed handbags ,The reminded me of the right wing in Ireland,

The want your support ,they get your support , then the rob you ,

 

[Delboy]

This is one of the more bizarre threads that I'v read on AAM. It's gone off in so many directions, some posters must be suffering severe dizzy spells at this stage!

 

[RETIRED2017]

This is one of the more bizarre threads that I'v read on AAM. It's gone off in so many directions, some posters must be suffering severe dizzy spells at this stage!

The right wing never get dizzy seeing they wear there blindfold all the time,

 

[Jim2007]

We bought our own houses upgraded along the way. We spent a fortune getting our house and gardens to their present state. Mrs Lep and I are not moving for anybody. Move into a downsized apartment yourself Mr Varadkar.

So you spent a fortune creating a home that is too big for your needs and are now determined to continue maintaining it and trying to do the work necessary for the upkeep of the gardens etc as you grow older.... it is your choice and no one can make you give up your property it is constitutionally guaranteed, so don't blow your top. Personally I'd prefer to spend my time and money on other things in retirement.

 

[Laramie]

Personally I'd prefer to spend my time and money on other things in retirement.

I spent two hours out in my garden this morning, doing a tidy up and putting some compost on my raised vegetable beds. I didn't want to go out at first, but when I got going it was magical. I can buy my veggie cheaper in the German supermarkets but I still like pottering about.
This afternoon I will watch a few downloads and spend some time planning my holidays to apartments that someone else owns in Spain/Portugal. If the sun stays I will crack open a bottle of wine that I bought before Christmas for a few Euro when the supermarkets were killing each other to offer me discounts. I will sit in the sun and enjoy it.
My big house is a summer house. Not so much a winter house. If things get too difficult for me I might downsize, but it will be my choice when and where I do it.
I might even contact Leper and see if he has availability in his Spanish apartment this year. It's My time now.

 

[Early Riser]

My big house is a summer house. Not so much a winter house. If things get too difficult for me I might downsize, but it will be my choice when and where I do it

Good for you. But could you be more specific about its relevance to proposals to increase options for people who may wish to downsize and/or provide incentives for downsizing ? Do you see either of these as interfering with your freedom ?

 

[Gordon Gekko]

That is absolutely fine, Gordon. But none of us know how or when our circumstances might change, eg, health, disability, need to access equity for unforeseen reasons. It would be nice to think that there might be a lot more options for older people to downsize than there are now, eg, suitable apartments in central locations, low dependency communities.

And even if you never want to (or opt to) move, others may choose to do so for whatever reason. If it suits them and if it simultaneously frees up a family home, that seems like a win/win.

I am not sure why this seems so threatening to some.

I’ll tell you why Early Riser. Because the next step is disincentivising people from staying in their family homes. Newstalk referred to the idea of a “bed tax” similar to the very old window tax.

There is a risk here of demonising people who done their own thing with the 48% of their money that they’re allowed to keep.

I’ve no issue with supporting older people to move by choice; just don’t penalise them for wanting to enjoy things like gardens that they may have put decades into.