To think where the hell do they get the money (and time)

[BetteDavisWeLuvU]

Just sat browsing through Instagram. I follow a lot of house reno accounts because up until having DC we were renovating ours, so as well people I follow I also get targeted by other home accs.

Obviously in lockdown I’ve had more time to browse, and am just astounded with the sheer amount of these accounts and how amazing most of them are and I’m just constantly thinking how the f do they afford it, and have time.

I’m pt (only 20hrs) but have a senior role and DH runs his own professional services businesses and is in the high earner tax bracket, we also have a relatively small mortgage living in the north. These seem like normal folks with normal jobs, like us, but there is no way we could afford the scales of these renovations and in the timescales, whole 4/5 bed houses with extensions in 2/3 years.

And before anyone starts it’s not jealousy per se, but more where the f are we going wrong?!? And the time, some of these people have multiple kids, I just don’t understand how you could hold down a job which would pay you the sort of salary you would need to pay for these renos and the quality of fittings (DH works 14 hr days, I worked 11 hr days before DC) along with planning and project managing it all and looking after young children. What are we missing?!?

Nb. Yes know it could be family money etc. in some cases but this unusual, the sheer volume of these accs means it can’t be that. And also yes I know I should spend less time on Instagram!!

[RandomMess]

Could have maxed out mortgage/debts, could have other property rented out... could have bought first property 20 years ago before the prices rocketed.

🤷🏽‍♀️

[OneRingToRuleThemAll]

We did a whole house renovation over two years. I did it by not starting until ten years into living in a wreck and then re mortgaging. I will be paying off the works for the next 25 years.

[LolaSmiles]

Any number of ways:
Loan to give capital for big structural work
Credit cards for smaller pieces
Money from family
Savings over time. Some people save up so they've got enough to do the project as one stint of disruption rather than working a room at a time.
Getting good deals and taking time to source/shop around
Working with contractors they know so getting a good rate for labour
Remortgage to release funds

[BetteDavisWeLuvU]

@RandomMess sorry should have also said that unless there’s some kind of youth conspiracy going on most of these couples are in their 20’s/early 30’s so having built up significant equity along the line won’t be the reason. It’s baffling. I need to know where I’m going wrong 😂

[BetteDavisWeLuvU]

@LolaSmiles oh I know all that but some of these are 80/100k projects, plus fittings, I don't know how people afford what will be very large mortgages (a lot of these houses weren't bought as wrecks) with the repayments 😅

[Churchonsundays]

Our neighbour is one of these. A reasonably well known influencer. Was a child when she met her now DH, who is significantly older than her and owned several properties when they met. At 24 she bought a £1m house which they then gutted and extended using his investment money and (im presuming) a large cash injection from her parents who either won the lottery or had a huge inheritance because they went from standard 4 bed house to luxury mansion overnight. Neighbour is also sufficiently well known in influencing circles to get many gifts- from F&B paint, to holidays in Australia to cars. Have a distant relative who got a huge inheritance and bought her first house outright at 22, got another inheritance and upgraded to a mortgage free 4 bed. Our nanny’s husband had recently been the sole benefactor of several £1m+ estates (it does pay to run around after old single childless relatives for years on end) which has been divided between their 4 children enabling all of them to purchase nice 1st homes in London/Home Counties on sub £30k salaries. Another friend lived overseas in a tax haven for 10 years, and now lives in a £1m house with kids at private schools and 1 modest income. Another friend has all their holidays, cars, school fees and expensive furniture paid for by her dad. Her DH has also benefited from inheritance from several spinster aunts that he pandered to for years. So although their household income is small enough for them to qualify for child benefit, their life looks pretty flash. Lots of people in their 40s made money by flipping properties.
IME it’s mostly inherited money or parents prolong up.

[mogloveseggs]

Could be working with the renovation sand furniture companies?

[TowelHoarder]

We’ve done work on our house that we could never have afforded had we not had an inheritance each and several family members in various trades who we didn’t have to pay for their labour and we could use their discounts at merchants, so that could be part of it.

[Samtsirch]

They could be lying.
They could have inherited.
They could have stolen.
😁

[Browzingss]

Don’t believe everything you see on Instagram! It’s just a facade

I feel the same. I’m not a homeowner yet as I’m only in my early 20s and just graduated university last year. Pretty much all of my peers have fancy cars and an overload of designer items etc and I do wonder how they afford it all

[Churchonsundays]

@Browzingss you sound very sensible. Either their parents bought the cars or they buy them on credit.....ditto the clothes, unless they are influencers, when they will be given them.

[Shrewsdoodle]

Well paid jobs but living cheaply for a few years, saving up a huge chunk and spending that on a deposit and renovations. Two people on a good salary saving half their income, it adds up!

[Needallthesleep]

@Churchonsundays RVK Loves?? I absolutely love her house

[FizzyPink]

I wonder this a lot as well! I follow a lot of home accounts on Instagram where the woman doesn’t have a job and appears to spend all day faffing around with various things in the house and taking photos.

I suspect a lot of what they post are undeclared ads. Especially the ones that ask “where can I buy a sofa in X colour/shape/fabric” and the next week they’ve miraculously been sent one

[julieandertoninthewarehouse]

I often think this. Although I have a family member, early twenties - she & her OH bought a huge detached new build with Help To Buy and a 40 year mortgage. I suspect a few of them do that.

[BetteDavisWeLuvU]

Clearly we haven't coseyed up with enough people who are about the pop their clogs then 🤣😬😬.

My lovely Grandma died a couple of years ago and left it all to my Dad and his brothers. My cousins all got a fair bit but me and my bro haven’t had a sausage.....not that I expected it or need it at all, it just makes me laugh...I know it’ll have been my Mother like nope, it’s been left to us 😆.

[NailsNeedDoing]

They will be in a huge amount of debt, and most of them will have had at least some help from family through inheritances, gifts or loans.

[BetteDavisWeLuvU]

@Turnedouttoes oh yes definitely!! A lot them though it’s not just the accessories but the sheer scale of the Reno’s and garden landscaping etc. I’ve been doing this so I know the ballpark of how much things cost so I’m just like how?!?

[ragged]

gosh, sometimes I know people and think HOW did you spend all the money you were earning? It just disappeared.

[FizzyPink]

@BetteDavisWeLuvU oh yes I know what you mean about the renovations.

I actually have a thread at the moment about my shock of being quoted £6k to do our tiny tiny garden. I can’t even imagine how much some of these huge building works are costing and for people with seemingly very normal jobs!

[thebear1]

They have the same magic money tree as the couples on Grand Designs. Even those who run out manage to get more somehow. More seriously it is inheritance, debt, savings or family. I don't think it is often just income from employment alone. Although MN shows how well paid some people are.

[museumum]

If you’ve got the skills it makes a huge difference. We’ve just had our bathroom quote - 6.5k of which over 4K is the fitting / labour.
We have friends with design degrees who are just so physically skilled at all diy, it makes such a huge difference.

[BrummyMum1]

These people are not normal people OP. Can you imagine taking photos of your house and sharing them with the world? The level of smugness is off the scale.

[BetteDavisWeLuvU]

@Shrewsdoodle I suppose that’s one thing we haven’t done, pre kids we had an annual income of nearly 190k. Less now because of my drop in hours but still over 150, I’m aware this is a significant amount of money and I’m still left scratching my head (and thinking I’m in the wrong job possibly).

We don’t live as frugally as we could on reflection - not beyond our means but we do spend a lot on food (Waitrose farm shops etc.), have nice cars and nice holidays. Maybe this is something to consider next year to bank a bit more.

It’s also the time though the time and energy.....

[summerrose11]

Maybe the ones with the larger followings have alot of stuff gifted therefore leaving room for their money to go on more structural things