Buy house, quit job? Or quit job, buy house?

[alazuli]

I'm so very, very bored with my job and have been trying to find a new one for years but with no luck. Would it be crazy to buy a flat and then quit? I could do my job freelance although I don't have contacts yet. Has anyone done this and survived?

The alternative would be to quit now and then hopefully find another job but my industry is quite badly paid so no guarantee I'd get the same salary (and therefore mortgage).

[Pradaqueen]

Definitely don't quit your job. There is a very old saying 'it's easier to get a job when you've got a job'. As a person who has hired literally hundred of people over the years even if you genuinely have been made redundant that's also what the people who have been moved on also say. Even if you don't like your job/boss etc and you have left for genuine reasons there will always be a sense of 'can she/he get on with people/manage the workload' and is that 'the real reason' they left.

Set yourself a time limit of 6-9 months. In that time run your life as frugally as possible. The reality is if you start up on your own you will need at least 6months money to manage whilst you establish yourself. I ran my own consultancy for a couple of years and it was hard work. Yes I got some great gigs and clients and choice of hours but the income is not regular. I did however get headhunted for a big job which I accepted on my terms so it was useful to get an understanding of what I wanted from work from that point of view. The reality is, a steady pay check is a nice thing to have. In that 6-9 months also try and get a feel for free lance work. If it not against your current terms of employment do some at the weekends/during annual leave.

With regards to the flat, if you get one now yes you'll get a mortgage but if you don't keep up repayments through not having any income you won't get another one any time soon if you get repossessed. You sound like you are really fed up with your job and want to change your lifestyle which is not a bad plan but change just one thing: keep your job and get a flat or change your job and keep your current living arrangement. Too much at one time if you are not feeling yourself could cause too much stress.

[Pradaqueen]

God I sound like an old git

[alazuli]

No, you don't. :) Thanks for the advice. Yeah just so fed up at the moment. Seems like it's easier to buy a flat rather than get a job so I've been focusing on that although getting a new job should really be my priority as that's the change I really need. It's like a weird Catch 22.

[Pradaqueen]

It is a weird catch 22. Get a flat and distract your dislike of work by decorating etc. Honestly life will be better if one thing has improved. You'll meet different people whilst furnishing it, get people over for dinner etc. If your home is something which is yours you will feel more positive. Your demeanour at work will improve if home life is better then you'll feel a bit more in control. for you.

[alazuli]

Aw, thanks Pradaqueen. :) I guess all change is good...

[alazuli]

Also I didn't realise hiring managers got suspicious of people who had left their jobs!

[Pradaqueen]

Generally we're not suspicious and want to believe the best in everyone but there are some people who aren't completely honest ....and in this day and age all references are very matter of fact (she worked here between this date and this date. The end.) regardless if you were the star employee or worst. Chin up, exciting times ahead!

[Muddle2000]

No way leave your job till you have another one.
Even if it takes up your freetime set up your freelance work
while you still have the regular pay check
Yes people recruiting will think at the very least
"How is he/she getting by with no income?"!!

[PotatoBread]

You'll find it harder to get a mortgage if you quit your job. Buy flat first and then assess your job situation

[EssentialHummus]

I'd start branching out into freelancing during evenings and weekends to see if you can actually get clients for what you want to do (and I'd do this in fact, I did this even if your employment contract says not to in capital letters). You'll see whether there's an actual market for you, and if you're good at all the ancillary stuff that comes with running a business.

Save money, cut your expenses where you can.

Once that seems to heading the right way, look for a flat. What can you reasonably afford on a tightened income.

Find flat, have offer accepted, complete on mortgage.

If you still want to resign then, go for it.

[YelloDraw]

Good advice from EssentialHummus

[Wingedharpy]

Any chance you could drop just 1 day per week ie. maybe work 30 hours instead of 37.5?
It's amazing how having just 1 extra day a week to spend doing things you actually like doing, can make the other 4 working days seem more tolerable.