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Original poster

Who doesn’t own a house and isn’t bothered?

344 replies

Horcrux · 25/01/2020 18:16

We are trying to sell our house and we have very little intention of buying another. We have 2 children and jobs and plan to rent as it’s cheaper in our area. But it will also give us more freedom to travel.
Is this totally stupid?

OP posts:
AgathaVanHelsing · 26/01/2020 11:46

Me, I don't care. But I do concede that I have been so so lucky to have had decent landlords and 7, 2 and 5 year tenancies respectively.

All repairs and maintenance someone else's problem. Fantastic.

Doobydoo · 26/01/2020 12:32

@WanderingMilly...agree with your post. I am in rural Lincolnshire and we did rent from landowners for a while..they were great. OP...I say go for it! My mum died at 70...she had her own business and delayed her pension.She did travel and do lively things but she did say she wishes she had been more comfortable and packed the business in before she became unwell. I say go for it. Our son is home edded our eldest was until secondary..now at Uni. We have tried loads of things. To me it sounds like you have a plan...also I do think your children will gain so much. And it is possible to become a doctor/lawyer if you have been home edded(comment aimed at those with a nervous disposition)

Doobydoo · 26/01/2020 12:33

Lovely things!

hettie · 26/01/2020 12:52

Why don't you buy a cheaper property with some of the equity and rent it out so someone else pays off your mortgage and a less expensive boat?
Just as an aside... it sounds like you are making huge assumptions about your kids interests.... Forgive me of I'm wrong in that... but what if they have non interest or aptitude for technical charts/boat engines etc and actually turn out to have a passion for 13 century romantic literature. The UK (just about still) has a depth and quality to it higher education offer that is almost unrivalled. Be careful with this because your kids may forgo the right to have 'home' status if they ever wanted to study here. You won't be able to give the money for fees and they won't be able to borrow it......

Comeonbabyyay · 26/01/2020 12:55

Me. Not bothered at all. I have lived and worked in several countries and always rented of found jobs that came with accommodation.
We have an investment and we have lived in our current home for a few years.
We like spending time outdoors and happy with very little.
We save what we can and the investment is going well.

Comeonbabyyay · 26/01/2020 13:01

Oh and I have also lived in a boat. First my dad’s one and then a narrow boat when I lived on my own.
Depends on what you want from life.
I have lived the life I wanted, pretty sure unconventional for most.
But I got a degree and two postgraduates, I have always worked or financed myself and I speak several languages.
I am so grateful my parents gave me this opportunity.
I have never been one to want or need a lot of stuff. I moved here with a suitcase and built a life.
I have a family now and I am going through the more conventional route because of DH but I am a bit sad they will miss out on the adventures I had and all the practical learning from the travel.

OnlyFoolsnMothers · 26/01/2020 13:03

Don’t we as a society always criticise people (usually parents) for expecting the state to pick up the tab for their decisions and life style choices. Yet it’s quite probably OP and her OH could need state care when older as they will have used all their money, and as for the people proposing social housing as an option over a mortgage Hmm

EachandEveryone · 26/01/2020 13:07

Well there’s no social housing left. I would love one. It’s hard on your own to get on the ladder down south especially. Time is cracking on now so I would only be allowed a small mortgage. It’s very difficult and worrying.

Toohardtofindaproperusername · 26/01/2020 13:09

I think choosing to rent because you 'could' buy, have investments, have an inheritance coming your way at some point .. is really different to not having the choice. The essence seems to be 'choice', which I imagine for everyone is a lovely position to be in.
Investments, inheritances..... they are often 'hidden' from view amongst the middle classes who rent or live in a social housing or cooperative or similar and speak virtuously of doing so. rant over Grin.

Cherrysherbet · 26/01/2020 13:14

Sounds wonderful op. Go for it 😊

FAQs · 26/01/2020 13:16

@MonkeyToesOfDoom the same for my elderly aunt and uncle. Worked all their life, did everything as society expects, good Police and teaching pensions, now looking to lose it all for nursing care. My parents in a council bungalow, only my dad worked all his life but paid into pension rarely, my mother worked here and there but they are in the better position with regards to housing security and care.

dwum · 26/01/2020 13:19

Both DH and I owned. We sold up, travelled, retrained, and now happily rent.

I would like to have a little place to retire to. We are thinking about that, but nothing grand.

It's much less stress, and the right choice for us.

MonkeyToesOfDoom · 26/01/2020 13:37

FAQs

Its a damned shame really.
But I think people are misguided and believe that their house will pay for their elderly care.
Dementia costs, as an example, cost my dad £1k a week. £52k a year, his house paid for 3 years.
Yet some people think their £250k house will support them for 10+ years.. it's not.

Doobydoo · 26/01/2020 14:15

No one has pŕoposed social housing over a mortgage from what I have read so far

thatmustbenigelwiththebrie · 26/01/2020 14:28

I now own my house (with a mortgage) which I was able to buy thanks to inheritance. However I do miss renting a lot. I loved being able to phone the landlord when stuff broke and getting it sorted for free. It was very stress free. Now I worry about every little thing in my house because I know I will have to pay for it. I wasn't fussed about buying a house and if I hadn't been given this opportunity I probably wouldn't have been upset not to. My rent was very reasonable.

AlCalavicci · 26/01/2020 14:40

I rent and I am happy with it , I have a HA home and have lived there for almost 20 years but each year I get sent a list of houses that I could swap / move to if I wanted and I am considering it in a year or two .
In the mean time my rent is very low, my boiler gets services every year , my electrics get checked every 2 years and I am due to have a new kitchen fitted in the summer.
I had to have some slates replaced winter time 2018 and all my windows were replaced about 7 years ago .
All of this cost me nothing other than my normal rent

adaline · 26/01/2020 14:46

I rent and I am happy with it , I have a HA home

But of course you're happy. You have secure HA/council housing. Private renting is a very different ball game.

userxx · 26/01/2020 14:55

@AlCalavicci Where do I sign up?

Original poster
Horcrux · 26/01/2020 14:58

@adaline you’re talking like we will only have a state pension, both dh and I have been paying in to a pension each since we started working in our careers. 25yrs for him, 10 for me. He will still be paying in to this when we live on a boat as he will still be employed.

We will have more disposable income so some can also be saved for old age

OP posts:
Itsabigstinkydog · 26/01/2020 14:58

So envious of those with HA properties!

I can’t see myself ever getting one but I don’t see myself getting on the housing ladder this decade either Sad

Itsabigstinkydog · 26/01/2020 15:00

Back on topic though: I think your topic is more about escaping mundane life and doing something more exciting rather than home ownership.

Go for it

HaudMaDug · 26/01/2020 15:03

I private rent and I love the location so much I have no intention of leaving here. I could buy or self build but can't find a location as good as this. Luckily my LL is not to greedy but he wanted tenants that would stay long term so keeps the rent below average for the area.
I have no one to leave a property to when I die so am quite happy to keep saving hard till retirement so that I have enough either keep paying rent or buy somewhere small outright so long as I have enough money left over to enjoy retirement.

MusicTeacherSussex · 26/01/2020 15:05

@Horcrux if you want to rent go for it. But don't sell your house, let it out and still pay off the mortgage.

I do think it would be quite irresponsible though and renting really is shit for the most part

adaline · 26/01/2020 15:06

you’re talking like we will only have a state pension, both dh and I have been paying in to a pension each since we started working in our careers. 25yrs for him, 10 for me. He will still be paying in to this when we live on a boat as he will still be employed.

10 years of paying into a pension won't give you much money, though. Neither will 25 years. I've been paying in for 10 years and it currently gives me something like £100 a month. But I'm only young and have plenty of time to increase that. But £100 wouldn't even cover our food bill for the month, let alone help towards anything else.

I appreciate you still have a while to go before retirement but don't underestimate how expensive retirement is without factoring in the cost of rent payments - things like security deposits, first/last months rent if you're evicted and need to find somewhere else to go - it all adds up.

Care home costs aren't really something I worry about - my worry is the first 20 or so years after retirement when most people are still relatively fit and healthy but don't still want to be working a 40 hour week just to get by.

Snog · 26/01/2020 15:09

If you have children at school it would totally suck to be given two months notice to move. Potentially EVERY 6 months.