Where would you move to and what would you buy...?

Nomis21

I will shortly inherit about 250K after taxes. I am 66 years old.

I live in the Midlands at present but don't have family or many close friends in the area so am open to living anywhere in Ireland.

If I buy a property over 200K I will be allowed to retain my non contributory Irish pension payment as I was previously on DA.

So I need to buy a property over 200K but less than 250K. I do not work and although I don't have a car, I could buy one if necessary if I lived in an area where there was poor public transport.

Keeping in mind my age and likely deteriorating health, should I only consider a bungalow to avoid stairs? (I am restricted to only buying a house as I have a dog and dogs are not allowed in apartments.

Should I only consider areas where there is good public transport (I have an FT pass) to save having to buy a vehicle, or should I save money by buying in a more remote area and enjoy the more pleasant surroundings and tranquility of the countryside?

As a 66 year old pensioner I am allowed to rent out a room and keep the money without it affecting my pension as I live alone. Should I buy a 2 or a three bed home? Should I live in an area where it would be easier to rent out a room as I have no other savings?

Where in Ireland do you think I should buy to get the best value and the best environment? I am not concerned with resale values as I want to buy a property that I will live in until I die.

So what would you buy and where would you buy it, if you were in my position?

Spanish Eyes

Somewhere with a bit of life and activities for ahem, slightly older people (like myself). Although you don't have to be a twenty something to enjoy things they do either..

Good access to hospitals, doctors, the nearest town etc. Good transport links be that a bus or a train or both. FTP means you can use this endlessly provided you can easily get to the bus stop/train station easily on foot.

Bungalow is a good bet, but security is something to look out for. There are ways around that. Good alarms, cctv and shutters like they have on the Continent. Often wondered why iron grilles on windows are so rare here, yet in Spain EVERYONE has them! Anyway.

As to where I would buy, well that would depend on where you can afford. Write down your list of priorities, and see where meets them. That's an online start anyway!

Best of luck.

Nomis21

Thanks, Spanish.

I have been examining daft and had some viewings. I have looked at 3 bed houses in Galway suburbs, Bungalows on offshore islands in Cork and Galway which offer the best sea views and are very secure but can feel isolated in Winter (FTP covers ferries though) but rent a room income unlikely. The Midlands is generally within the price range but not a very exciting or interesting part of Ireland although I know the area very well and could keep same doctor etc and even rent a room out easily in the bigger towns.

I am interested if anyone could recommend any town or area of Ireland which deserves special consideration for someone in my position?

the_syco

What are your hobbies? Such as golf, bowling, etc. You'll have a lot of free time, so you'll probably want to enjoy it. No point in buying a house with shag all to do nearby.

WoolyJumper

I'd probably go with a nice West Cork town. Somewhere with a sense of community, where locals tend to get involved. Where there is usually lots of things going on. Places like Kinsale, Clonakilty, ,Bantry, Skibbereen. All have nice sense of community. But also are busy in the summer with tourists and have lots of little festivals, markets and different things going on throughout the year. You could live in the town so you are not too isolated but have access to plenty of scenery, walks, nice beaches and have bus service to Cork city if needs be. I'm sure there are other towns that will offer you something similar so it dose't have to be West Cork. It's just more the idea of living in a town that has most things you need on a day to day basis, that has a strong sense of community, that offers nice scenery and different events that go on throughout the year but also is close to a city if needs be. I just happen to be more familiar with Cork.

LirW

I'd consider moving to a town that has a somewhat reasonable connection to a bigger city by public transport and maybe a regional hospital. Maybe Wexford town or surrounds like Rosslare or the direction of New Ross would suit? It's a lovely part of the country with approachable people, the weather isn't too bad, there are many strawberries if you like them and most importantly, there are good enough connections to either Dublin and Waterford and from there to Cork. I'd definitely be a bit wary to move somewhere too remote, in case you might need to frequently be seen by a doctor or go to the hospital.
I'd go location over size really, I don't know how many bedrooms you were thinking of but keep in mind you need to maintain it even when you're older and maybe not in best health. I don't see stairs as the biggest problem, lifts can be installed.

Nomis21

By coincidence I was in New Ross looking around this week. Property prices are good value but the town seemed to be in the doldrums with many closed down businesses and even the locals in the pub advised me not to move there! West Cork seems very pleasant although is one of the most expensive areas of the country. Interesting comment about the stairs not being an issue as this would open up potentially much more.

Anyway I am enjoying the search and the favourite at the moment is Galway suburbs as the city has a good atmosphere, a good local bus service, it is a safe city, has good medical facilities, a strong room rental demand with many properties valued at around 250K.

4ensic15

A good house can be got in Athlone for €200k. There is a third-level college and plenty of industry so plenty of rent-a-room demand. There is mainline rail and there are numerous bus routes passing through. The main drawback is the level of medical services. Hospital appointments mean a trip to Dublin or Galway. Remote areas can be very pleasant, but if your health deteriorates and you can't drive, your life would be a misery.

mcko

Move somewhere warm and sunny where the cost of living is low, will add years to your life.

C3PO

A very interesting question OP! I would personally look to Wexford, probably around the Hook Head area!

Nomis21

mcko wrote: »

Move somewhere warm and sunny where the cost of living is low, will add years to your life.

I wish I could but Non-Contributory pension is not paid out of the state.

Do you think it would be possible to live in a hot cheap country with 250K without actually knowing how long I will live? Healthcare costs would also have to be taken into account. I have a medical card in Ireland and we do get some sunny days here...

Nomis21

C3PO wrote: »

A very interesting question OP! I would personally look to Wexford, probably around the Hook Head area!

I did visit Fethard on Sea recently. Beautiful area but a very poor bus service and would feel very remote in the Winter.

Wesser

Sligo a good option. Great outdoors. Fantastic restaurants. Great community.

Nomis21

4ensic15 wrote: »

A good house can be got in Athlone for €200k. There is a third-level college and plenty of industry so plenty of rent-a-room demand. There is mainline rail and there are numerous bus routes passing through. The main drawback is the level of medical services. Hospital appointments mean a trip to Dublin or Galway. Remote areas can be very pleasant, but if your health deteriorates and you can't drive, your life would be a misery.

I actually live near Athlone and go there frequently and have viewed some properties. Many of the houses in the centre are in poor condition and subject to flooding by the Shannon. There is not much of a town bus service although the train would be very useful if not too far out of town. Compared to Galway though it does not seem as good value. The college is mostly local students and most of the student accomodation seems unoccupied. Also seems to be a higher crime area...

PhoenixParker

I would look to be within walking distance of a town centre of a decent sized provincial town with a small hospital and access to my preferred hobbies.

Long term I think not needing a car is a good move and being within walking distance of necessities and hobbies makes for an easier social life and more active lifestyle. The hospital because it makes life easier if you have any ailment and guarantees a certain size and liveliness to the town.

I'd use the HSE hospital list as a shortlist then narrow it down based on personal preference, hobbies and friemds/family in the vicinity.

For me, is see if the budget would cover Sligo or Waterford.
If you want to stay near Athlone? Ballinasloe might be an option.

Galway I would avoid unless you can live centrally. It's a hugely car dependant city.

Nomis21

Wesser wrote: »

Sligo a good option. Great outdoors. Fantastic restaurants. Great community.

Yes Sligo is good value and much cheaper than Galway although the town centre seems like it has seen better days and is not very cosmopolitan. The weather in that part of the country is not the best although there is a train station. Renting a room may not be as easy as Galway though...

Nomis21

PhoenixParker wrote: »

I would look to be within walking distance of a town centre of a decent sized provincial town with a small hospital and access to my preferred hobbies.

Long term I think not needing a car is a good move and being within walking distance of necessities and hobbies makes for an easier social life and more active lifestyle. The hospital because it makes life easier if you have any ailment and guarantees a certain size and liveliness to the town.

I'd use the HSE hospital list as a shortlist then narrow it down based on personal preference, hobbies and friemds/family in the vicinity.

For me, is see if the budget would cover Sligo or Waterford.

Yes, very practical idea about the hospital list. Waterford and Sligo are well within the budget but they both seem to lack the atmosphere of Galway and are only slightly cheaper. I suppose I am answering my own post really as the more time I spend thinking about where I want to live, the more Galway ticks all the boxes, as I can't afford Dublin and would be very restricted in Cork.

Galway actually seems to have a very good suburban bus service.

dubrov

To be honest, I wouldn't be putting too much emphasis on a good bus service.
You'd be better off finding something in the centre of the town where you can easily walk to the shop/GP/Bank/Post Office and also to a few things you might be interested in doing during the day (Cafe, Library Pool etc.).

I'd also only look at bungalows. Yes, you can install chair lifts on the stairs but they are painful to use. You'd probably just end up avoiding to the upper floor altogether. I think it would be better to go for a smaller single storey.

Also I'd be thinking about things like heating. New builds have much better insulation.

I wouldn't rule out an apartment either as you money may go further. They tend to be warmer and more secure and you wouldn't have as much to worry regarding maintenance.
You'd need to factor in the additional cost of management fees though and noise can be an issue in some places.

jobless

what about somewhere like Rush or Lusk ?

SortingYouOut

Get yourself a lovely apartment in Spain for 70-90k and live off the 100k.

If I were in your shoes, that's what I'd do.

jobless

SortingYouOut wrote: »

Get yourself a lovely apartment in Spain for 70-90k and live off the 100k.

If I were in your shoes, that's what I'd do.

what happens when the 100k runs out?

C3PO

jobless wrote: »

what happens when the 100k runs out?

.... or you get sick?

SortingYouOut

jobless wrote: »

what happens when the 100k runs out?

C3PO wrote: »

.... or you get sick?

100k in the south of Spain shouldn't run out, if managed properly but that depends on the lifestyle you'd want to have.

Of course you could get sick but I think at that age, you should be more focused on living rather than dying.

Unless a sickness came about very quickly, you could always travel home if the worst was approaching.

NeoVaradkar

Always thought Clare was a underrated county. Lovely beaches, Ennis is nice town, Spanish Point is nice, clean air, cheaper than alot of other counties and friendly people.

Clare (if there was any work going there!)

tuskacz

Buy outside of Ireland e.g Spain. Cheaper properties and better weather for retirement time.

wexie

Nomis21 wrote: »

If I buy a property over 200K I will be allowed to retain my non contributory Irish pension payment as I was previously on DA.

So I need to buy a property over 200K but less than 250K. I do not work and although I don't have a car, I could buy one if necessary if I lived in an area where there was poor public transport.

Do you think you would enjoy having the car? Going for daytrips, bringing the dogs out. Personally I think it would possibly give you a lot more options if you weren't tied into public transport.

Nomis21 wrote: »

Keeping in mind my age and likely deteriorating health, should I only consider a bungalow to avoid stairs? (I am restricted to only buying a house as I have a dog and dogs are not allowed in apartments.

I wouldn't necessarily restrict yourself to bungalows but it's good to keep in mind.

Nomis21 wrote: »

Where in Ireland do you think I should buy to get the best value and the best environment? I am not concerned with resale values as I want to buy a property that I will live in until I die.

So what would you buy and where would you buy it, if you were in my position?

I'm clearly somewhat biased but I could very much recommend the area between Wexford and Gorey.

https://www.myhome.ie/residential/brochure/sunnyside-ballinaclash-blackwater-enniscorthy-co-wexford/4238942

Walking distance to some fabulous beaches

https://www.myhome.ie/residential/brochure/avalon-kilmuckridge-wexford/4239802

Lots of beaches everywhere, Dublin close at hand by either car or train, Gorey and Wexford not too far away

But, absolutely not an area where you can depend on any form of public transport.

jobless

SortingYouOut wrote: »

100k in the south of Spain shouldn't run out, if managed properly but that depends on the lifestyle you'd want to have.

Of course you could get sick but I think at that age, you should be more focused on living rather than dying.

Unless a sickness came about very quickly, you could always travel home if the worst was approaching.

of course it could run out.... the OP wouldnt have the pension to live off over there....
if sickness comes about quickly who's gonna help them come home, where would they stay?....

C3PO

jobless wrote: »

of course it could run out.... the OP wouldnt have the pension to live off over there....
if sickness comes about quickly who's gonna help them come home, where would they stay?....

I'm not advocating it but why would the OP not continue to get their pension while living in Spain?

SortingYouOut

jobless wrote: »

of course it could run out.... the OP wouldnt have the pension to live off over there....
if sickness comes about quickly who's gonna help them come home, where would they stay?....

As far as I was aware, if you've made the contributions during your working years, you're eligible for a pension abroad. Even if you worked partly in another country also, you can crossover the contributions and are still eligible as long as it's within the EU.

C3PO

SortingYouOut wrote: »

As far as I was aware, if you've made the contributions during your working years, you're eligible for a pension abroad. Even if you worked partly in another country also, you can crossover the contributions and are still eligible as long as it's within the EU.

My understanding also!

SortingYouOut

SortingYouOut wrote: »

As far as I was aware, if you've made the contributions during your working years, you're eligible for a pension abroad. Even if you worked partly in another country also, you can crossover the contributions and are still eligible as long as it's within the EU.

The OP said they will be getting a non contributory pension, they presumably don't qualify for a contributory one.