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Original poster

To live in a Travelodge

286 replies

oakkiln · 08/02/2025 11:14

Inspired by the other poster who started a threads about liquidating their assets and living in luxury hotels in their old age (but, for us, sadly without the assets!)

My husband and I are in a desperate situation. We are both late middle age and still rent. We are doing everything we can to save for a deposit for a house and live very frugally.

Rent, rates and all house costs etc come to £21k a year. But we could live in a Travelodge for £11k. Storage for furniture etc would be £2k

Are we crazy to consider it for just a year or two?

OP posts:
Crikeyalmighty · 10/02/2025 19:51

@oakkiln aw my pleasure - it's what we will do when we inherit!! ( we are early 60s) 50% down on somewhere nice.

I honestly wouldn't discount a housing assiciation place for over55s for a few years - it doesn't have to be a forever and ever situation but got to better than a bedsit or the travel lodge!!

Original poster
oakkiln · 10/02/2025 19:25

Crikeyalmighty · 08/02/2025 20:26

Ok OP as you haven't said what area you are these suggestions may or may not be helpful

First off I think you need to try and get your costs down as you've said to think about saving more so don't shun over 55 housing- there's no way you would find living in travel lodge ok long term - washing/cooking facilities etc and you would struggle to get it at £30 a day consistently too - in my view best option is to look at an over 55 flat for initially a few years - this will give you the security and lower rent too to bang more away -

Have a look at anchor.org.uk - you can search on regions but also on immediate availability too - better in some areas than others- they also keep their own waiting list as well as via local authority - on average will be about£780 a month plus maybe around £420 a month for heating/counciltax/water etc

The other really good site for this is housing21.org.uk - again you can search on regions and then specific developments and it shows if they have ones currently available within the property text.

Both these are social housing but over 55- so you have the security - also with housing 21 it doesn't matter if it shows as an 'extra care' facility if you don't have any care needs- it's just an indicator for those that do need additional help . Some are very modern and really nice too - I know someone on her own who got a nice 2 bedder in a nice area too within 4 months simply as there was availability

If you could then save maybe £800 to £1000 a month to put away and still wanted your own place/rural there is a scheme called Heylo your home which is basically shared ownership but on the open market - you need to put down 25% in cash and it has to be a house not a flat but it can be anywhere that's in good condition - so if you could save say 40 to £60k over 5 years by utilising a cheaper over55 flat you can then look at places£160k to £200k -age isn't a factor - it's a long term lease and you benefit from increasing values too - you then pay rent on the part you don't own - so on those values would be about £550 a month rent. No service charges as can only be a house anyway -

There are massive advantages to shared ownership at your stage or indeed rented over 55s in case you loved it and stayed put- your rent is eligible for UC - so if you only have your pensions the chances are you would get a fair bit towards rent - you would struggle to get a mortgage anyway and could only get a mortgage over a relatively short time meaning much higher payments which may well then become a problem if you have to stop work.

Hope this may be of help

I love your idea of Heylo! I think that may be the way we go when it comes to actually buying so thanks so much for this tip.

It needs a huge deposit though so just going to go through everyone else's tips on here. Travel lodge? Camper van? Bedsit? Canal boat? Holiday park? So many ideas. Whatever we decide it's certainly going to be an adventure!!

OP posts:
Original poster
oakkiln · 10/02/2025 19:11

Thanks everyone, some brilliant thoughts and suggestions, I really appreciate you all taking the time to help.

@DesperatelySeekingDan I've done some research into mortgages and have a good grasp of the figures and budgeting so all should be good. It's mostly a matter of saving as much as I can for a deposit. I like your idea of speaking to a mortgage advisor though as they might be able to spot problems I may but have thought of. So thanks, I'll get onto that.

So many great ideas on here. I love the link someone gave for shared ownership on ANY house, not just a new build . That would be perfect for us.

I've read every message you've kindly posted and will go through all of them again and make some notes and see if we can come up a plan. I really appreciate the ideas, but more importantly I really appreciate you telling me I'm not completely crazy for considering it!!

OP posts:
Crikeyalmighty · 10/02/2025 18:58

@DesperatelySeekingDan I agree - I gave various suggestions but am having to go on random guesses have no idea if OP is tied to an area, maybe wouldn't consider an over55 development ( even if shortish term for a few years to get more cash together ) A bit more meat on the bones wouldn't be outing and can help those of us who know the market target our help a bit better- for instance Heylo that I suggested is great if they would consider shared ownership on open market but it has to be a house and they have to put 25% down - may be great and possibly doable if looking at say a small cottage in wales - in the under£180k market - may be totally irrelevant if they are tied to south east etc and would struggle to buy a house under £380k as an example

DesperatelySeekingDan · 10/02/2025 18:31

I'm puzzled why @oakkiln hasn't been back.

The crux of this is figures.
How much deposit needed, how much is a house, can they actually get a mortgage offer at their age on her income?

I hope you're reading OP because there are posters here who could help if only they knew the figures.

pootleondown · 10/02/2025 18:19

NeedToChangeName · 10/02/2025 07:16

Static caravan would be a cheaper way to buy a house. Some are long term ie not just on holiday parks

Honestly they're not the cheap and easy option people think they are.

Firstly most sites have rules stating that old vans have to be replaced at a certain age so the chances of getting a cheap one are slim. Secondly the ground rent can be pretty high, and they can put it up when they want. My DF was paying £350 a month ground rent (residential ones will be even more expensive) then he had to buy gas bottles on top which were expensive. Then when it closes for a month they all have to move off which is a massive pain.

Crikeyalmighty · 10/02/2025 13:31

@Behaveyourself88 I posted about Anchor on an earlier post too - along with housing 21- it just depends really if you are tied to a region - Anchor have nothing on immediate rent in the area I live( Bath and north east Somerset) and little around London too -but lots in midlands and north east etc . It would work even as a couple of years solution if it wasn't for them and maybe save and buy shared ownership in a development that suits more- problem is if OP wants rural , older house and full house etc then they are going to struggle to get a mortgage to buy at that level - which is why o also mentioned Heylo - but they would need 25% deposit in ready cash

Behaveyourself88 · 10/02/2025 12:18

we were in a similar position to yourself 10 years ago and worried sick how we would keep a roof over our heads. Fortunately things worked out for us in the end. Have you looked at Anchor homes (my sister in law rents one of these and pays just over £500 a month, her husband passed recently but she’s in it for life or until a nursing home. There’s also Sussex Weald where you can part buy part rent on over 50’s. Otherwise there’s Trusted Housesitters and we would have probably done a mobile home. My brother in law got a cottage on an estate where his job was the care taker/ driver and his wife carried on with her own job. These are usually advertised in The Lady. I don’t know if your husband can drive but HGV drivers are in short supply. Good luck with it all, you will feel so much more secure and happy when you’re settled.

Floatlikeafeather2 · 10/02/2025 12:11

I think I might be too late because it looks like you've probably changed your mind already, but have you factored in the huge fluctuations in price over the year? Our local one is £30 per night at the moment but goes up to £100ish in the summer, Bank Holidays etc and that's not somewhere people traditionally spend holidays, but is a convenient stop off for the lakes. One we stayed in last year is also £30 at the moment but we were paying about £160 a night in May last year, again not a traditional holiday area but a convenient stopping off place for west coast Scotland. I would also warn that Travelodge is not the most comfortable of hotel chains. I always sleep very well in them but, as a person of a certain age, finding somewhere comfortable to put myself in the long evenings, is very difficult. There is next to no clothes storage (no drawers for undies etc) and as lots of contract workers use them, you would have to get used to people above you banging around at 5am, thumping on each other's doors, clattering down the stairs and yelling to each other. I really hope you do find a solution though. You sound like you have more than paid your dues.

VeneziaJ · 10/02/2025 11:20

Have you put yourselves on housing list for social housing? If not now is the time to do so as waiting lists are long

Snakebite61 · 10/02/2025 10:46

Absolutely not. Whatever it takes.

angela1952 · 10/02/2025 10:28

DesperatelySeekingDan · 10/02/2025 08:26

@oakkiln I was hoping you might come back with some figures.

You've not said how much a house would cost in your area.

(There are houses for £50K in some northern town, whereas in the south east you can't buy a 1 bed flat for under £200k.)

Have you done the maths?
How much equity do you need? How much have you got?
What would your monthly mortgage payments be?
Have you talked to a broker or a building society about your plans?

If you've never ever had a mortgage, you might not be aware of the figures and how a decision for a loan is made.

The very first step is would you get a mortgage at your age, over 10 years?

You need to discuss this with a loan provider first.

You may find the door is closed even now.

Yes, people on pensions/retired/older can get a mortgage (we were told that when we considered buying a 2nd home) but you need the income to do it,

Edited

Yes, finding out just what level of mortgage is possible has to be your first step, and the length of mortage they would offer. Obviously a very short term means a much higher repayment. Most companies insist on a guaranteed income for this, and once you've retired this means a guaranteed level of private pension or an annuity.

YourAzureEagle · 10/02/2025 09:18

oakkiln · 08/02/2025 11:14

Inspired by the other poster who started a threads about liquidating their assets and living in luxury hotels in their old age (but, for us, sadly without the assets!)

My husband and I are in a desperate situation. We are both late middle age and still rent. We are doing everything we can to save for a deposit for a house and live very frugally.

Rent, rates and all house costs etc come to £21k a year. But we could live in a Travelodge for £11k. Storage for furniture etc would be £2k

Are we crazy to consider it for just a year or two?

It worked for Alan Partridge...

DesperatelySeekingDan · 10/02/2025 08:29

PoorLion · 10/02/2025 07:57

Can your DH work in a supermarket? The local one to us is always hiring home shoppers, looks like a fairly easy job.

Stash into your pension, take lump out at 55.

Not sure that's a good idea - taking the lump sum early.

DesperatelySeekingDan · 10/02/2025 08:26

@oakkiln I was hoping you might come back with some figures.

You've not said how much a house would cost in your area.

(There are houses for £50K in some northern town, whereas in the south east you can't buy a 1 bed flat for under £200k.)

Have you done the maths?
How much equity do you need? How much have you got?
What would your monthly mortgage payments be?
Have you talked to a broker or a building society about your plans?

If you've never ever had a mortgage, you might not be aware of the figures and how a decision for a loan is made.

The very first step is would you get a mortgage at your age, over 10 years?

You need to discuss this with a loan provider first.

You may find the door is closed even now.

Yes, people on pensions/retired/older can get a mortgage (we were told that when we considered buying a 2nd home) but you need the income to do it,

Porkyporkchop · 10/02/2025 08:13

Also…..You should get some financial advice and talk with someone about mortgages. Your dh is nearing retirement , so getting mortgage offers could be limited . It would be good to sit down and discussing saving and future options .

Porkyporkchop · 10/02/2025 08:07

Campervan ? I always loved the idea of moving about and living cheaply like this

PoorLion · 10/02/2025 07:57

Can your DH work in a supermarket? The local one to us is always hiring home shoppers, looks like a fairly easy job.

Stash into your pension, take lump out at 55.

Jaichangecentfoisdenom · 10/02/2025 07:53

alwaysMakingItsofar · 08/02/2025 17:01

with 50 000 a year you can buy a very decent maisonette or a flat in the SE also. Some weirdo brainwashing happened to the lady

But given the lady's age, she's not going to be able to get a long term mortgage, is she?
Oh - @DesperatelySeekingDan puts it much more logically than I am able to, I see.

Airbrhdhdh · 10/02/2025 07:20

Narrow boat or motor cruiser? Check moorings, wintering and get a survey if considering buying.

Which part of the country are you in?

Always make an offer. Many will have been on the market for a while.
8k. www.boatsandoutboards.co.uk/boat/1980-fairline-holiday-9599027/
35k. www.norfolkboatsales.co.uk/boats-for-sale/alphacraft-35-2/

NeedToChangeName · 10/02/2025 07:16

Static caravan would be a cheaper way to buy a house. Some are long term ie not just on holiday parks

Love51 · 10/02/2025 07:09

I've skimmed the thread so may have missed it, but what would be the problem with a Park Home? Is it the cost? They're more substantial than a caravan and you can either buy outright (don't, it's a deprecating asset) or rent long term. You could use the Travelodge plan to save then buy somewhere to own but you'd be in comfort in the meantime. I'd worry about living in one room with someone with PTSD tbh, does he never need to be alone? Most of them are situated in the countryside and they even allow dogs which you indicated you might want. Your budget doesn't permit a dog but you (plural) could look after some during the summer months to supplement your income. Good luck whatever you decide!

Channellingsophistication · 10/02/2025 06:19

I think a house share or housesitting would be a much better idea than a travelodge as I think it will affect your ability to get a mortgage. I would certainly check out that aspect before you decide anything.

sashh · 10/02/2025 06:05

Have you considered applying for social housing?

A lot of properties are for over 50s or some are adults only.

I know they are not easy to get everywhere but you could get on the list.

Yes you would be renting but it would be your home for life.

I'm in a bungalow that you had to be over 50 or have a disability to rent. Because of that my rent includes a window cleaner and basic gardening.