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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

Frugal neighbours, 7 houses no intention of selling ever

206 replies

Mrspitt3 · 15/10/2017 09:58

My neighbour and wife live in a 3 bed modest semi, is in late 50s, has been really frugal (still has 20 year old carpet tiles in kitchen etc) all their life which I do respect actually, they have always invested in property (totally understand), what I don't get is that they are now retired they have no intention on selling any of the houses and having a really nice retirement even though the rented houses cause them a lot of stress with their tenants, I said to my neighbour a few weeks ago about one particular troublesome property, why don't you just sell it? His reply was "well what would I do with the money?" ...... if they had no intention of selling them/enjoying a nice retirement then I don't understand why you would buy property. I understand they get a monthly income but they still live frugal lives. It feels immoral to me and greedy when they could help the housing market by selling the houses. AIBU?? Have I missed something??

OP posts:

EdmundCleverClogs · 15/10/2017 10:15

They don't need all the houses, they have no intention of selling them, they have no one to leave them too, they just have a lot of stress from them.

Oh, so shall we all just sell off everything we absolutely don't need now, just in case our nosey neighbours start judging and nagging us about how we run our lives? Do you nag other people in the same way? 'Mr Jones, I can't help but notice that you and Mrs Jones have three cars between two people. Have you thought of just selling that old classic car instead of just putting up with it/repairing it. It's just a hassle, blah blah blah'. It's so rude!

pinotgrigio123 · 15/10/2017 10:15

Do you really have this much free time?

PurpleMinionMummy · 15/10/2017 10:15

If they have income from them all they probably already have a nice retirement. Not everyone bases their happiness on material things that can be bought with more money you know.

EdmundCleverClogs · 15/10/2017 10:17

it's just a situation that makes me wonder... they are lovely neighbours thou.... I dunno maybe they will leave me something in their will

A dictionary and a book on grammar hopefully.

MidniteScribbler · 15/10/2017 10:17

If they have no one to leave anything to, then I'd become their most helpful neighbour ever.

megletthesecond · 15/10/2017 10:17

If they're in their late 50's they could still have tens of thousands of care fees when they reach their late 80's.

fence wondering what makes other people tick is great. Sometimes we learn from it. Other times people are just odd.

LaurieFairyCake · 15/10/2017 10:17

But ‘intention’ isn’t important, it’s reality that counts - they may NEED to sell them later for care.

BabyOrSanta · 15/10/2017 10:18

It does seem sad that they've worked their whole lives to live very frugally and not enjoy it. They could take some time for themselves and see bits of the country they've never seen or install a jacuzzi bath or whatever.
But, if they've always lived like this, I can understand them just doing as they've always done. They've not come to much harm living like it and there is something to be said about enjoying the little things.

permatiredmum · 15/10/2017 10:18

They are only in their fifties they may have another 40 years to live yet!

coddiwomple · 15/10/2017 10:18

I get why you don't understand why they put up with tenants when they could just sell at this time of their life (even if I could come up with a few reasons)

but this It feels immoral to me and greedy when they could help the housing market by selling the houses YABU!
Absolutely none of your business, and even if they chose to keep them empty instead of providing a service to their tenants, that has nothing to do with you.

We are not in a communist country, (and it did not work there), people can invest their money as they see fit, and rightly so.

coconuttella · 15/10/2017 10:18

Some people live entirely for the moment, and become miserable because they're irresponsible and get their lives into a mess.

Some people live entirely for the future, and live in misery because they are focussed on acquiring wealth they'll never enjoy.

Both are unhealthy. Your neighbours seem to b the latter. Stuck in an unhealthy cycle.

LaughingElliot · 15/10/2017 10:19

Cleary they are comfortable with being uncomfortable. Twits.

VioletCharlotte · 15/10/2017 10:20

It seems odd to me (as someone with no money!) but I can see it from their point of view. They probably see letting the houses as their job. People at retirement age often feel like they're losing their identity and they don't have a role anymore. I imagine they wonder what they'd do if they didn't have the houses. They might moan about the problematic tenant, but in my experience, men that age love a good moan!

If they're renting them out they aren't adding to the housing crises as they're providing desperately needed rental properties.

Funnyonion17 · 15/10/2017 10:20

I don't think it's immoral or greedy

I do however think it's silly to not sell them and live a better quality of life, but as others have said it's not your business or place to say really. My uncle is a home owner, with hefty savings yet he loves very frugly. He's retired now and always lived modestly and probably always will. Some are from a generation of having nothing, so they don't desire holidays, luxury homes and cars etc. Each to their own I guess!

BarbaraofSevillle · 15/10/2017 10:20

Maybe they think that the income from rent is more secure than the income they would get from interest and dividends if they had cash to invest instead of property?

Maybe they already have loads of shares and cash as well as all the houses and they have a balanced investment portfolio?

Maybe there are issues with capital gains tax if they sold the properties?

Maybe they are a bit stupid and are doing it all wrong?

People who want to buy a house will just have to buy one of the many others on the market instead - there's plenty to choose from in a lot of areas and a further 7 on the market wouldn't have a huge impact on their property buying abiliies.

What about the people living in the houses - OK if the houses are sold to another landlord, they might be able to keep on living there but if the houses are sold to people who want to live in them, the existing tenants will be forced to move.

Zoll · 15/10/2017 10:20

The rational analysis is that they own the houses in order to have the stress.

Many people seek reasons to be unhappy; often because they are unhappy anyway and it's better to have a reason.

WineAndTiramisu · 15/10/2017 10:21

Seems odd, but my grandfather is similar, has plenty of money but won't spend any of it making his life easier, think it's that generation, it's drilled into them to save and not spend.
I'd rather be spent it and had a nicer life!

Original poster

Mrspitt3 · 15/10/2017 10:21

Cocunut.... this sound very much like them.

Angry folk..... go and take an angry pill or lay down have anouther cuppa

OP posts:

bakingaddict · 15/10/2017 10:22

For most people acquiring property is a way of making money for a nice old age, going on holidays, sorting out kids etc etc. For frugal people like this having x million in assets is the end goal in itself. The more their bank balance or assets swells, the more their frugality increases. That is the drug that keeps them going, putting more 1000's in the bank but not spending any of it to make their lives more comfortable. I feel sadness for people like this

permatiredmum · 15/10/2017 10:23

l Op is not 'just speculating' she is calling them greedy and immoral

Nanny0gg · 15/10/2017 10:23

It isn't anybody's business! Most things people chat about aren't necessarily anyone's business. But the OP has brought up an interesting POV and it hurts no-one that it's posted on here for discussion.

What on earth is wrong with that?

(And if we dismissed all such threads, life would be vv quiet on here)

coddiwomple · 15/10/2017 10:23

oh... the OP doesn't like people not agreeing with her
How long before that thread is removed for "privacy reasons"

pinotgrigio123 · 15/10/2017 10:24

Mushroomburger17 · 15/10/2017 10:25

Ffs! There is nothing wrong with discussing this on an anonymous forum!

I don't get the logic either op. In fact I think you're talking about my in laws. I don't get it. My conclusions are: 1. It's all about liking the status, or 2. they don't realise how old they actually are and how this is it; these are probably their last healthy years. Buy that longed for kitchen, make that overseas trip that you always talk about etc. Yes they have a 1k per month rental income but they could have 250k to really go for it and embrace life. It doesn't make sense cos there's no endgame or strategy. Such a waste.

WorraLiberty · 15/10/2017 10:25

I'm not jealous of their stinky green kitchen carpet tiles that have weatherd 2 puppies over the years that I have seen pegged on their washing line on and off for 20 plus years no

They pegged 2 puppies on their washing line??

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