So many people sell up and leave the city life behind when they get to retirement age. Almost as many find themselves regretting it later. We thought maybe there might be a best of both worlds in there somewhere.
City centre properties have increased by far larger margins than those in the sticks, and it’s in those city centres that the majority of rentals are also paying the best rates.
A 3-bedroom house within 10 miles of the heart of London is going to fetch upwards of £3,000 a month on a long term let; maybe twice that if you can be prepared for the rigours of Air BnB.
£12-1500 a month could buy a £250,000 country property on a 20-25 year mortgage.
So think; if you made the house over to the kids in chunks over that time, enjoyed the countryside with an £1,500+ monthly boost to your pensions and kept going for 7 years, both you and your family could find yourselves very nicely set-up.
Plus, and this is a big plus, if you changed your mind halfway through there’d be nothing stopping you heading straight back in to the smoke. And all that time your house would be quietly getting more and more valuable.
The words ‘cake’ and ‘eat it’ spring to mind!
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