Unexpected bills

In the past few years I have only had to replace a boiler and radiators, and recently a washing machine... so much less than the recommended 4% value of property. But I do keep a contingency fund of £4.000 just in case..

Our home is very old, was quite old when we bought over 60 yrs ago. I don't keep precise track, but through the years I'd guess we've spent 2-3% yearly on maintenance and also on making it current to today. For example, we had no central heat - now we have a wonderful heating system.

We've just had our whole shower room re-done due to a leak in the pipe between cistern and bowl. As it is a back-to-wall concealed cistern, we hadn't spotted it. Fortunately, mostly covered by insurance.
I'm not sure I know anyone who has never had to get a fairly major job done due to a water leak!
In this day and age, it's time plumbing was all enclosed in waterproof channels, with easy access for repairs.
We have now inserted a water detection alarm under the cistern - and I'll probably check visually regularly too.
Frustrating!

Those %ages are obviously only guidlines, taken from an internet article. What people actually spend or have put by is entirely up to them.

I don`t think I appreciated the actual cost effectiveness of having a new build when I bought, not until this year anyway. I had a lucky escape via the survey I had done on a 1930s house I was initially looking at. Nor did I appreciate the amount of money I would need to spend in getting my house set up as my home

My home is now on an even keel with minimal heating costs so I can concentrate on building up that ring fenced maintenance pot. Obviously best done now in year three and just kept inflation proofed going forward

I have a little 'disaster fund' - as I put by £20 a month. I think it'll soon be needed for a new washing machine, as it's got a bit noisy, complaining as it starts to spin. My new loo and basin/cabinet cost just £250 - as I put them in myself (plumbing's easy for me when the isolation valves are already installed and I like tiling).

It's the massive labour costs for things I just can't do (like roofing) that come as a horrible shock. Over the thirty-odd years I've been here, in a big 1930's house, there's been a constant list of much needed repairs and improvements.

That list endures as things get done, more stuff needs doing, so it's a money pit. I'm just stopping (most of) the rot.

The old 1970's extension should be rebuilt/replaced but that's always beyond me.

One of the good things about living in a flat is that the maintenance costs for the building are known in advance. So, I have no concerns about roofs, walls, fences, gardens, gutters, etc. etc. Even covers our 24/7 care of boilers and CH by British Gas. And, also our water. As we are a self-managed organisation (volunteer run), means that we donot have to pay out money to shareholders or even on salaries. So, all monies collected twice a year are actually used on the building, keeping it beautifully clean, decorated and lit - people usually comment on how nice it is to come into our entrance foyer -0a nd Estate Agents always show a photo of that area as a way of attracting veiwers to the flats.

Obviously, anthing INSIDE the flat are our own responsibility, and I had not taken on board that there were still some items of maintenance inside that I would need to be prepared for. Must say, that the replacement part in the cistern of my en-suite loo has really improved that flush.

When I moved here, I purchase all new 'white goods'. so do not think any of them are likely to require replacement (probably in my life time). Three years here, and all rooms furnished completely to my satisfaction. Brand new guest bathroom and kitchen - all new curtains and blinds at the window. New flooring and carpets throughout. Patio balcony sorted out - just need a few new plants for pots each Spring. Living room Tv is four years old. Apart from (maybe), having my en=suite redone nothing else to do. Even that is fine the way it is - so I will think long and hard as to whether to have it done at all.

I really would like to have my Living Room and Hallway decorated. Just cannot face packing everything up again in Living Room in order to have that done. Sometime in the future I will need to get that done. But, it is the packing up not the money that is delaying me having that done.

I am so delighted not to have the on going maintenance concerns that a hosue and garden gave me.

Franbern, yes, a sensible choice that suits you. I'd just feel cooped up in a flat, though. I 'need' my garden, all those days spent outside and loads of space around me. I have active pets and a large family, so when they all visit and stay here (3 or 4 times a year) it's all useful. Still, mostly, I live in my little bedsitter/snug and kitchen diner - the rest of the place is deserted.

yes, we all have different needs and wants and that is what makes a thread like this so interesting. What I would have hated is to be in a deteriorating house that I could have downsized while still mobile or with family to help but didn`t.

Understandably, it is a scary prospect. It helps to appreciate that the clock cannot be turned back and we get older so quickly and as fran and others show, it is very worth biting that bullet

I am thinking that money flows out for three years after moving and then something makes us stop that flow. Either the property is fine or money runs out or energy goes so that clearing for decorating gets to be too much. I could not do that clearing again, it creased me last year

My late Dad was a GP and he often remarked on elderly patients who'd 'left it too late' to move to more practical accommodation as they'd grown older and more infirm. The prospect of clearing out and selling family sized houses after years of accumulation of stuff is, indeed, daunting but so worthwhile if people can face it.
Dad set us a good example (as ever) by moving to the flat we now live in. It was later left to me. I'd thought he was mad at the time but now I really appreciate it. Thank goodness we made the move and left our old house to other people.

That's us Aveline!
A flat is a step too far for us and DH has been rather stubborn reluctant about moving. Coupled with an absolute lack of suitable properties we're still here, but it could be cheaper to employ a gardener, a cleaner and get a stair lift!

Bite the bullet Callistemon. In my ward volunteer role I see so many elderly patients that can't go home as their home is just no longer safe for them. So many express regret and have to resign themselves to long term hospital stays then eventual, inevitable discharge to care homes. It's very sad.

We live in a 1960s house, whenever there is a leak, I get stressed.

A few years ago, we have so many problems with leaks in this house,the garage and outside toilet, that DH wrote to a housing association asking whether they have a 2 bedroom bungalow for us to rent on the development of bungalows near where we live.

Two months later, they wrote and told us they have one available. We signed the tenancy agreement and then I changed my mind, so we forfeited one month rent.

I am glad I did not go ahead with it since we now no longer have a mortgage to pay which enables me to retire at 60.

Since then, I saved as much as I can every year and spent it on the house which worked out roughly 1% of the property value each year.

I have started another saver account. Fixed rate with any amount between £1 and £125 pm, finishes christmas 2023 and no withdrawals. 5%

Pricipality bs (which is linked with barclays) I had to open a new account, took 10 easy minutes. I had a local principality when I lived in s wales, really good building society

I have really got the bit between my teeth re this savings malarky. I needed to, to make up for all the spending since moving

Aveline

Bite the bullet Callistemon. In my ward volunteer role I see so many elderly patients that can't go home as their home is just no longer safe for them. So many express regret and have to resign themselves to long term hospital stays then eventual, inevitable discharge to care homes. It's very sad.

I do keep trying Aveline, I look online every day (for the past 4 years!). There is a dearth of suitable single storey accommodation around here.

Sorry to hear that Callistemon are there any compromises you could consider?

We could install a lift or adapt downstairs, but the council tax and heating etc would still be higher.

No retirement flats or just flats? All on one level?

Not really Aveline

They're full of old people!!

Old people are great company!

Yes, we are 😂👴👵