Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Any other pensioners selling their homes to move into Council Housing?

I retired last year and am busy selling my home to move into a Council Owned bungalow..I`f either my husband or I need residential care we wont lose our hard worked for home..we dont need to keep a substansial amount in a rainy day fund for home repairs...we can give our children their inheritances now and see them spend it and enjoy .

Are any other OP`s thinking of doing this...or do you think I have been silly?

Update:

P.S.Mr Ed..I shall still be paying my rent..and I have payed for my health care with my years working in tax and national insurance..

9 Answers

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    Mr. Ed has described me to a tee. I have put my home,auto,and all bank accounts into a trust. When I need a nursing home, the government can pay for it. The government would just send my money to some welfare bum anyway. I worked for mine!

  • 1 decade ago

    You are lucky to be offered a Council home.

    Here they operate on a points system and you are out

    of the running if you own your own home.

    You have to be in dire need to be offered an old persons

    bungalow or flat.

    When my 80year old mother in law enquired she was told

    she hadn't a hope in hell. She finaly went into a private

    Methodist home.

  • 1 decade ago

    one holds on as long as they can and then does what they need to do. I've known a few people to write up their wills and then sell their house to their eldest and then still live in it. The problem I've seen with that is that the son (or daughter as the case might be) then pushes the elders around, so you very well may be right in doing what you're planning. It's really a personal choice.

  • 1 decade ago

    No, go for it, it happens a lot up here, its the best way to keep the Governments thieving paws off your money.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    sold my home and moved into my Fraternal Lodge Retirement Village. everything is provided for the rest of my life so I really have " it made. " They even will take care of my funeral and burial.

  • 1 decade ago

    Sounds like the ultimate way to go unless you are filthy rich.

  • 1 decade ago

    not understanding the ins and outs of your system over there but over here in the states i detest folks who do this == these are them same folks all they lives scream about people being on welfare and now they are doing the same thing == taking there money and running and letting the govt step in and through medicare (in this case just another word for welfare) pay for their final years of housing!!!

  • 1 decade ago

    no way I love being an owner occupier the house has so many memories

  • Anonymous
    1 decade ago

    I think you are very wise.

Still have questions? Get your answers by asking now.