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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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:
coddiwomple · 15/10/2017 10:28

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

Indeed, but when posters write valid arguments against the OP original post, her answer is go and take an angry pill or lay down have anouther cuppa. The OP is the one who doesn't want to discuss anything, she wanted people to agree with her.

chanie44 · 15/10/2017 10:28

Maybe they see themselves as professional landlords and don't 'feel' ready to permanently retire. So, although stressful, it gives them something to do.

I used to work with a really frugal couple who lived off one salary and saved the other. They retired early, but never had lunches out, went on holiday etc. I suspect they are probably sitting at home, doing nothing and spending nothing, but they are happy.

One of the couple told me that they remember the interest rate rises in 1990s, sitting in the office and everyone was listening to the news, many in tears. I'm wondering if this triggered their frugal ways.

Original poster
Mrspitt3 · 15/10/2017 10:28

Pino.....
Yes I have enough time to ask a simple question.... however I don't have enough time to respond to a post that I have no interest in. Trolls just troll because they feel the need to be mean maybe they get kicks out of it .... very strange

I love and respect my neighbours they are lovely people .... I've seen a LOT of stress the remnants cause them thou

OP posts:
Original poster
Mrspitt3 · 15/10/2017 10:29

Tennants

OP posts:
CurlsandCurves · 15/10/2017 10:29

You say they don't need the money. How do you know they don't?

They may have other commitments requiring finance that you have no idea about.

pinotgrigio123 · 15/10/2017 10:29

Someone seems bitter that they don't own 7 properties Hmm belter

formerbabe · 15/10/2017 10:30

I agree with you op. Blimey, if it was me I'd be on a world cruise sipping champagne and having the time of my life.

MsPassepartout · 15/10/2017 10:30

I understand they get a monthly income but they still live frugal lives.

Maybe they feel they need the monthly income to be comfortable financially?

If they sell the houses, they get a big lump sum which will dwindle as they spend it (even living frugally). If they're only late 50's they could be alive for decades yet, and they may think that they might need the money more later for care homes.

ratspeaker · 15/10/2017 10:31

They probably get more per month in rent than they'd get in interest putting the money in a bank.
I dont see how selling the houses would help the housing market, they're not letting the properties lie empty, they have tenants who would need to hunt around for someone else to live if they were evicted to sell the properties.

Maybe they'd be bored without dealing with tenants.

Some people like to live with the familiar around them. We'd still have woodchip on the walls if it was up to my DH ( the 30 year old wool carpet in our room is still in negotation )

MiraiDevant · 15/10/2017 10:31

Sorry - they are in their 50s, FIFTIES?? That's nothing . They won;t collect a pension yet, they may well not be easily employable by a shiny corporation, (especially if the HR manager has ageist attitudes like you do) so how do they pay the bills??

At fifty we all still have to work, often have teen or young adult kids, possibly caring responsibilities for parents/ aunts/etc.

At fifty if you are in good health , you may well be supporting yourself for another forty years. There is less and less help to do that. If one or both of you need a bit more care twenty five years down the line and you stopped work at fifty how would you ever pay for that? 50-60 year olds are and have to be very much a part of the working population. Retire indeed, !!!

FYI
Jeremy Corbyn - 68
Theresa May -61
Dianne Abbott 64
Graham Norton 54
Halle Berry 51
Glen Close 70
Sebastien Coe 61
Jose Mourinho 54
etc etc

AccrualIntentions · 15/10/2017 10:33

I don't particularly get it either, but in their 50s? They're not exactly doddery old pensioners and perhaps being landlords and dealing with the hassle that entails gives them a sense of purpose or identity. If they sold up and retired now, what would they do for the next 40+ years, just piss about?

Original poster
Mrspitt3 · 15/10/2017 10:34

The puppies on washing line comment left me with tears running down my face 😂😂 carpet tiles in the washing line.

I'm making it my business by asking you folk.

Don't get me wrong I would love 7 houses, I'm no way jealous of their lives though no, they have had lots of sleepless nights with tenants and almost caused depression in his wife.

OP posts:
ShowMePotatoSalad · 15/10/2017 10:34

I don't think it's fair to say they are greedy. It's not their responsibility to help the housing market, and by being good and fair landlords they are making properties available for people to rent as not everyone can afford to buy a house anyway.

And they may well have intentions of selling in the future but have perhaps kept this from you for some reason. I presume they don't tell you absolutely everything or discuss all the details of their future plans with you.

I think it's absolutely fine to speculate about it though, even if it's none of your business I don't see why you wouldn't be allowed to think or talk about it - it's a free country. I often talk to DH about what we think our neighbours are doing, but we don't purport to have all the facts about them because we definitely don't.

Original poster
Mrspitt3 · 15/10/2017 10:35

Late 50s retire next year

OP posts:
Jacana · 15/10/2017 10:35

Those puppies they've pegged out on their clothesline....what's the correct way to do this, anyone know? By the tail with one peg or by the ears with two?

RiseToday · 15/10/2017 10:36

It's like people who win the lottery but continue to live in the same house, keep their old banger and work for minimum wage.

You would think that the whole point of investing is to, at some point, enjoy the profits if you have been fortunate enough to make any!

So no, personally I don't understand your neighbours mindset at all but maybe it's a generational thing, maybe they don't want to 'retire', maybe they are content with their life as it is and don't have any desire to do exciting new things in retirement.

Who knows!

usernameavailable · 15/10/2017 10:36

Maybe, if they sell up and are left with lots of money and no stress they won't feel alive! Some people strive off stress and work - even if they don't admit it. I don't think morally they are doing anything wrong. No, its not any of your business as PPs say. But curiosity and being nosey is ok! So as long as you do not interfere with their decision I think wondering about how other people do things is ok. Its one of the ways we learn!

Original poster
Mrspitt3 · 15/10/2017 10:37

Show me.... yes maybe there is some master plan they've not told me.... let's hope they leave it to some good charities... maybe that's their intention ??

OP posts:
Olympiathequeen · 15/10/2017 10:37

Perhaps they feel a responsibility to their tenants. To sell they would have to evict several families. Maybe they are not being selfish but supplying a service to families. Maybe they charge reasonable rent and your idea of them being grabby is totally wrong. Perhaps they enjoy the challenge of running a business and it keeps them physically and mentally active.

I would wonder why you feel the need to control their lives and make the decision they should have a quiet life?

Original poster
Mrspitt3 · 15/10/2017 10:39

Jacana.... 🙈😂

OP posts:
AnnieAnoniMouse · 15/10/2017 10:39

They're providing 7 sets of people with accommodation, I don't see how that's immoral or greedy? If they could afford to buy a house they probably would, so if your neighbours sold their houses that would be 7 sets of people looking for new homes, trying to find rental accommodation, possibly having to move, change schools etc. How in gods name is that better?

Nanny0gg · 15/10/2017 10:41

If they 'retire' next year there will be no state pension for another 8 years. They might not get much of a private or works pension, so they'll need the rent.

CurlyhairedAssassin · 15/10/2017 10:42

Do those people suggesting they might need to keep the properties for future care Home fees really think that such frugal people will want to spend money on expensive care Home fees when the time comes? You can’t MAKE an elderly person move out of the home they own if they are still compos mentis.

No- OP’s neighbours will be like my Aunty who died a rich lady, and who refused to go into retirement accommodation or even pay for decent daily visiting care, and was housebound living a shitty life for the last 10-15 years. I dont know what she was saving it all for. Her quality of life was so poor she died earlier than she should have and half her wealth has gone to the taxman. She could have spent the taxman’s cut on a really luxurious retirement place and would probably still be alive now having been looked after properly.

Some people make funny choices. The property wealthy ones make out that they have to be careful with money, I really don’t know how they think the rest of us live.

AnnieAnoniMouse · 15/10/2017 10:43

Bloody hell Jacana. EARS. FFS they'd be covered in wee & poo in 5 minutes flat the other way. Puppies - wee & poo machines. 😂

Dagnabit · 15/10/2017 10:43

Why does your wife live with your neighbour? 😂😂