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

[Horcrux]

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?

[wildthingsinthenight]

Sorry typos. Gin!

[Horcrux]

@YappityYapYap my dh is a professional yacht skipper, delivering rich people’s boats across waters the owners can’t sail themselves due to lack of experience/balls. He also works as a freelance safety inspector on oil rigs. So whenever he’s away, I will be in situ with dc on the boat.

[DisgruntledGuineaPig]

But op, your rent will go up to match market rates. Your mortgage at £1,200 a month will stay roughly around that (depending on interest rates) until its paid off, then be nothing.

Personally I'd look at how much your house could be rented out for, if it would cover the mortgage it would be more sensible to get someone else to pay your mortgage off for you and rent elsewhere if you dont want to live there long term.

You kind of sound like someone having a mid life crisis.

[Horcrux]

It’s not a midlife crisis @DisgruntledGuineaPig, it’s just someone who is fed up of working 5 days a week and nothing to show for it except a house. Life is passing us by.

[DisgruntledGuineaPig]

Oh just seen your post about a rental property for students - that would be a good long term plan! There are letting agents who'll do all the management for you. My parents rented out their uk flat when decided to make their overseas holiday home their retirement home. They pay a fee to the letting agent to do all the repairs, safety checks etc as they aren't here to do it.

Definitely worth not stepping away from property completely, give yourself a plan B if something happens and DH isnt able to sail.

[Horcrux]

The UK education system is shit, my dc deserve to see more of this world. We will massively reduce our consumption on this earth by changing to this way of life.
Maybe I have been watching too many Lives in the Wlid programmes... but they can do it so why can’t we?

[PatellarTendonitis]

Personally I'd look at how much your house could be rented out for, if it would cover the mortgage it would be more sensible to get someone else to pay your mortgage off for you and rent elsewhere if you dont want to live there long term.

But they won't be around to deal with tenant issues so would have to pay for someone else to do it.

Sorry but it sounds like some ridiculous mid-life crisis/Life in the Wild wannabe nonsense where the kids get dragged along with the parents' selfishness no matter what.

[wildthingsinthenight]

It's a very divisive subject. I say go for it Horcrux
And good luck

[carly2803]

yeah it would be foolish

move to a cheaper area? My mortgage is very cheap (thank god), compared to other areas. I could move in a heartbeat, but why would i? i own a beautiful house, in a safe area, and its cheap.

I would never rent

[Bakedbrie]

Are you planning on educating them yourself on the boat?

[Horcrux]

Yes @baked

[Monstermummymum]

I don't think you're mad. We rent with two kids- our landlord is nice and we live in s great area..we wouldn't be able to afford the house we are in. Rental prices are much lower here and lots of families seem to rent here.

[Bakedbrie]

Beg to differ on UK education system btw. Postcode lottery? Yes. Universally shit? Nope. Mine came through and is now at med school. US costs an arm & leg.

[IceCreamAndCandyfloss]

I’d hate to rent, there’s no security and having had to move several times as a child I wouldn’t ever want the same for mine. I wanted them to have stable roots.

[Zoflorabore]

Me. We will never own and I’m not bothered. We live in a lovely housing association house in the village I grew up in. Secure tenancy and rent is just under £400 a month for a 3 bedroom house with a huge garden.

[toothfairy73]

We rent and I would do anything to be able to buy. My husband owned a shared ownership property. We got married, had a child and needed to move. We thought we would be in a good position, with a deposit, no chain.

We put it on the market, economy tanked and we lost a third of our equity.

Basically one disaster after another we lost our deposit and we now rent. Two children in a cramped flat. Rents may seem cheaper now but they go up and up and you have no control. We pay much more than our friends with mortgages to live in a place we can't decorate or even hang a picture without permission. We pay over the odds for a smaller place.

We would do anything we could to go back in time and choose differently.

[Dazedandconfused10]

Lived on a boat for 2 years now very glad I'm in brcks and mortar and own my place

[YappityYapYap]

@Horcrux to be honest, we go away on an extended holiday every summer and when we come back and DS returns to nursery, that seems to be when they see the most improvement in him. He seems to take giant leaps while we're away (he has a speech delay, being assessed for ASC) and something about exploring seems to help a lot. When we went away last year, he was barely replying to his name then when we came back, it was like he jumped ahead 6 months and had all these new things he did and seemed more in line with his peers

[Elbeagle]

I actually know some people who sold their house and bought a yacht to sail around the world with their children (had 2 when they left, had their 3rd while sailing!). They home ed on board and are very happy.

[Elbeagle]

I think the people saying ‘yeah we’re happy not to own, we live in a great housing association place with a secure tenancy and low rent’ are kind of missing the point. Most people don’t get a housing association house with a secure tenancy and low rent. Most people have extremely insecure private tenancies, completely at the mercy of their landlord who is mainly out to make money, and pay extortionate rent.

[Tiredtiredtired100]

Surely if you’re going to live on a boat then you’ll own that and that is your home. You still plan to own a home, just a mobile one. There’s nothing new about that idea.
Renting and dealing with landlords is a nightmare and money down the drain (by which I mean richer people’s pockets). In your circumstances selling your house to travel and be free makes perfect sense, but in most people’s world it doesn’t make any. Rent is usually higher than a mortgage (how else would landlords be making a profit?) so unless your house has gone down in value since you bought it, or you move to a less desirable house/area/street your rent won’t be cheaper.

[bloodywhitecat]

I'm 56. I have 'owned' a house but when exH was declared bankrupt we lost it, haven't owned a house since. I did live in a HA house but walked away when I left exH, I now live with DP in a privately rented home and have no desire to own another house ever again.

[FruityWidow]

Get the boat. That's what we did. I'd rather live life now than saving it for retirement.

[Beautiful3]

Eventually you'll own your own home if you keep paying. Renting is dead money with no security. You risk being kicked out or priced out. Living on a boat may be a dream for the next 10 years but when you're in your 70s I honestly cant see you wanting to live that lifestyle. How will you afford another property?

[Beautiful3]

Or rent when you're pensioners?