To live in a tent instead of buying my first home

[Mushroomlady]

Would love someone to give my head a wobble.

Female, single, child-free, full time job on an average wage, currently renting a spacious flat from lovely private landlord in posh area. Rent is low & I'm happy, but like most ppl I'm stuck in the trap of working to pay for a roof over my head.

I've saved and saved and saved and finally have a small deposit to buy a house or flat. Went to view one last week which was perfect, but when I did the calculations I started questioning whether it's really a good idea.

I'd still be working to pay the mortgage which won't be much less than my current rent. House requires redecorating and furnishing which is more expense. My rented flat is pre-furnished. As well as decorating I would have to spend thousands as I don't own any of my own furniture or household items.

The thought of spending all this money and amassing all this 'stuff' while having to work to pay for it all and being trapped paying a mortgage for the next 30 years is v depressing. I could Airbnb the spare room once it's in a presentable condition, but that's not guaranteed income.

A friend has offered for me to live on their land in Wales in a yurt (large insulated tent) w/ wood burner, rent free in exchange for help growing veggies, etc. Would have access to be own toilet and hot shower in the house as well as WiFi and indoor office space. Wood for fuel would be provided. Work will let me work remotely and part time. Winters could be spent indoors and/or could stay at my parents house which they would love. I'm very outdoorsy, love nature and wildlife, gardening, etc. I also love writing which I don't have time for alongside my job.

Would I be mad to forgo home ownership for yurt living for a few years, go part time and do more of what I love? Could still keep saving.
So as not to drip feed, parents own property so there's a chance I will inherit something before I retire though don't want to make that assumption in case they decide to leave it to a donkey sanctuary.
Wwyd?

1. Buy the house you fool
2. Keep renting
3. Live in the yurt

Buy the flat, make it nice, rent it out, and go and live in the yurt. I’d always advise someone to get on the property ladder if they can afford it - it’s the only way to achieve housing security (unless you miraculously qualify for council housing). If you fall out with your friends they could kick you off their land.

Yurt. Enjoy. I would...

If you go down the "buy a flat to rent out and live in the yurt for a bit" route, remember you wouldn't be limited to buying in London/the SE. You could look into buying somewhere that house prices are lower, where you would have the 25% deposit for a BTL, which would mean lower repayments. House prices are still rising in the North, and people still need rented accommodation. And if you're able to buy a house (cheaper than flats in many areas), you may well find it easier to sell again later. ^^

Buy the flat and rent it out to cover the mortgage while you live in the yurt

This. Try the yurt for a year or two.

Yurt, yurt! Have I missed your age somewhere? I think you do need a back up - savings in an isa for the medium term, a flat bouggt as a btl in a cheaper area, some idea of work you could walk back into if your current job goes tits up.

The other thing to say, as diplomatically as I can put it, is that the sort of people who up and move to rural Wales to grow veg are often a bit counter-cultural or fed up with conventional life. Sometimes that’s quite pleasant and open-minded, sometimes it’s a bit more midnight yoga and drumming circles and shamanic drum making. And only you know your friend and how you’ll feel living full time in an environment that might tend towards the odd.

Growing veggies on 17 acres is hardly the same as doing a bit of gardening, is it? There's going to be a massive amount of work/maintenance etc involved. Will you be their only 'employee'?

Umm, working to pay a mortgage and buy "stuff" is what the vast majority of adults have to do.
But instead you're seriously thinking of cadging off your friend for free, living with your parents during winter, or waiting until they die to inherit their home
I find your whole mentality of not wanting to spend - and depend on others for your material wellbeing - extremely odd.
Come on OP, grow up.

Everyone I know started off poor when they buy their first home. I remember feeling chained to a huge £40k mortgage and not being able to go on holiday for ages etc.
Roll on the years, a lot has happened including our mortgage is paid off, we have a rental property, savings, pensions, I have retired early this year and DH will follow in December. And we've also never had to be frugal since those first couple of years and had fab holidays etc.
The hippie, beating the system life can be appealing but will never win over financial security and freedom for me.

Fuck it. Yurt!

100% this.
Buy it and rent it out. Go and live in yurt.
Life does go quick and you may end up older with no security.

Build your security whilst you enjoy your freedom in the yurt.

You will he grateful you have build this security when you are older and no longer able to work.

Also you could always be able to travel because the income from the flat will allow you to do this.

Hi… I’m pushing 70… I’d do it!
You say you will still have the opportunity to save, so a year out of your life just for the adventure and experience would be worth it.
You have loving and supportive parents that you can go to if it all gets too rough come winter.
I would play my cards close to my chest re my savings plan.
I don’t know how open or private you are, but life has taught me not to share my financial details with even the closest of friends/relations…
I agree it’s a great idea to daily record your adventure for the likes of YouTube, insta, whatever.
it may help add to your income.
Look how popular the Ben Fogle programme is called A New Life In The Wild… alternative living is merely a dream for some, but you have an opportunity to make it a reality.
Even if you get no richer in money after a year of it, you’ll be so much richer in experience and have so much more fodder for your writing.
come back to Mumsnet after a year and update us all….
I for one would love to hear your story… and I wish you good luck, determination, and strength of mind to listen to all points of view, but to choose your own road.
x

A yurt is not a tent. There's a railway bridge near me that is full of people living in actual tents and it's bleak. Yurts tend to run to log burners, stoves, proper beds, a sofa etc.

If your remote working job requires decent internet I'd recommend checking speeds in the area first to ensure it's actually viable and how important is this to you.

Depending what the friend is like, I'd go for it.
It's right up my street. That said, making a friend a landlord and employer could have issues, I wouldn't put myself in that position with just anybody. I'd also have a big chat first to set expectations and boundaries.

Good luck for whichever adventure you choose.

I thought that the general idea of working was to keep a roof over your head? How you do that is up to you.
Depends on your age. There’s plenty of you people who live in camper vans and seem happy to do so,

Buy the house, rent it out so you have money coming in. Then go and live in the yurt.

A mate of mine slept in her van for a year. Not ideal but do-able to save money. Yurt sounds amazing. Go for it.

Couple of questions: Have you ever lived in a more remote countryside? Have you ever done hard outside physical labour on the land? Did you like either of those things Also has your friend fine this, has she got at least a few proven seasons of producing food? Do you have a back up if you fall/ or you can't grow enough food (or more likely both)...Farming has one of the highest levels of suicide. Living off the land is not some bucolic idyll... It's hard really hard....

I’d choose property. Thinking about paying a mortgage for 30 years is intimidating but it’s not a prison sentence. If you really dislike that lifestyle you can sell and rent again. I know people who have done just that.

But in 20 years time that mortgage will look very different.

Owning property gives you more options, not less. If you wanted to negotiate a mortgage freeze you could travel, live in a yurt for a while, take time out.

But whatever you decide to do, make sure you are building a decent pension.

Do it for the adventure and experience for a year...but don't count on it as a long term plan. Keep saving with plans to buy.

And before you give up your current property do a tester fortnight. Go and stay in the Yurt, do the work, see what it's like just in case you decide it is not for you.

Are you realistically going to have time to work part time and write in addition to helping your friends with their 17 acres? Letting you live rent free is a fairly massive favour and it would be reasonable for them to expect a lot in return. What happens if you fall out with friends or they decide to give up on the whole idea?

And why would you have to spend thousands equipping a house? You can get a lot of furniture, crockery etc cheap in charity and second hand shops.

Have you looked into the deals available for first time buyers?

Was expecting from the title to come here to say be sensible and buy.

Having read the detail: yurt, yurt, yurt.

Do it for a year! See what happens and if you fall out with your friend when veggie hours start to become more than an idea. Why does it have to be this house, right now?

Personally I might go for a caravan though 🤔

Ps. There is a type of contract called house for duty. Establish a reasonable number of hours commitment with your hosts valued at minimum wage. Work out the 'value' of your accommodation, work hard to their direction within your hours and stick to your commitment on the land.

Yurt in summer idyllic
Yurt in winter painfully cold
However, probably an interesting experience

Buy property

Most of it will be hay meadows or sheep grazing which will be taken care of by someone else. There will be a small veggie patch, but still plenty to do. Lots of trees so tons of firewood. They're hoping to live off grid as much as possible.