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

Yurt.

I know, who knew MN's were such an adventurous lot! I am appreciating the level headed responses too though. The conclusion I'm coming to is to mesh both head and heart if I can make that work.

Laughing at whoever said beware of shamanic drumming.

live in the yurt - see if it works for you.

prices are going up yes, but so is the cost of living. you will be trapped in a flat you can
nearly afford when take into account refurb and furniture with spiralling costs.

maybe yurt life won't be for you. in that case leave abs get back in the rat race. but for gods sake give the alternative life the chance. this is an opportunity many will never have

Go for the yurt but carry on working full time so that you can save more. in fact save every penny you can. Then when you do eventually want to buy you’ll have more deposit and money for some furniture etc. If you have the opportunity to buy I would always recommend doing that - but that’s just because I hate the thought of paying someone else’s mortgage for them if you don’t have to!

Late to the party but omg, definitely the yurt!

Could you buy the house, rent it out and live in the yurt for as long as you enjoy it? Best of all worlds!

Buy a less perfect house. You describe the house you could buy as ''perfect'' so my option d would be to buy something adequate. You might be able to live in a yurt now, but are you fully committing to being single forever? Fully committing to never having a child? And you can't commit to being young forever!!

I'm 52 and I could definitely live in a caravan on my own. But not a tent. However, I'm glad I don't have to.

I lived off grid in a yurt for a number of years. I miss it every day ( had to move back to reality for family issues)

Loads of advice for year round yurt living online. I personally loved it when it rained,snuggled up with my dog next to the wood burner reading ridiculous amounts and painting/crafting audio books,pod casts. Watching the seasons change when living in a yurt really gives clarity on life.

I'm not sure how much money you have but you could get a BTL in south wales for £80,000 with high returns. This would give you the step on the ladder for later on and more importantly a mortgage that you could move later on if things change.

Goodluck 🏕

Buy the lovely property, you won't regret it. Start small. Sleep on a mattress and get some second hand/free furniture from Freecycle. Paint the walls one by one.

Keep some spare cash to go and stay in the yurt for holidays. You can have the best of both worlds!

This is what I was as going to suggest.

I think living in the yurt sounds brilliant. I think it’ll be brilliant for a relatively short span of time, however - maybe 2-3 years max?

The older you get the more long-term financial stability matters.

I dont get this. If you are happy to live in a yurt, which will be simply furnished - i dont get why you cant live in a simply furnished flat and not have to spend thousands on stuff.

If its about the lifestyle of groeing veg thats a bit different.

This is so true. I moved to Wales to escape the rat race and it's virtually impossible to meet anyone for a relationship. There are loads of sheep near me but not many people.

I'd buy. You are in a position to buy and yes there will be a mortgage to pay but you will have a house at the end of it. You don't know if you will be a position to buy in a few years time.
As others have said, you could always let your house at some point if you wanted to travel/live in a yurt or whatever.
Also what if for some reason the yurt gig doesn't work out ( friend wants you to leave/ asks for rent/ you end up with some health problems/ you don't like it anymore/ you have to relocate to another part of the country etc)
( I am surprised so many people would go for the yurt. The thought of it just for one week is depressing enough ( in my eyes) but I guess we are all different!)

Loads of advice for year round yurt living online. I personally loved it when it rained,snuggled up with my dog next to the wood burner reading ridiculous amounts and painting/crafting audio books,pod casts. Watching the seasons change when living in a yurt really gives clarity on life.

This is beautiful and so idyllic, but what about waking up to the thundering rain and having to go and tend to a vegetable garden or do your job instead of snuggling up doing hygge activities? What about needing to take a shower and then dash in the rain (getting wet and probably muddy after your shower) back to the yurt? What about lying there in the dead of night with the rain going on and on (as it does in Wales) needing the toilet and thinking you’ll wake your friends plus you’ll get drenched?

Nonsense. It's good business sense and the OP gets to enjoy the best of both worlds.

Buy
You can visit your friend & stay in the yurt
You can rent out your property
50 or 60 with no mortgage gives you freedom later in life

I'd buy the house, rent it and live in the yurt. Use the money to pay the mortgage and supplement your part time work.

So the only loo or bathroom is in the main house and to wfh, you would have to be in the house too?
Basically you are moving in with friends and sleeping in their yurt?
I'm not sure this will give you anything like the life you currently have, independence, access to other friends, any cultural events you enjoy.

I'd be very wary of waking up in three years going 'god, what have I been doing?'

I'm a hippie at heart - I have those Shamanic drumming friends and friends who have lived in a yurt for years (beautiful but hard, hard work), but I would still ALWAYS say, if you can get on the property ladder, then do it first.

As others have said - having a property of your own will give you many more options and much, much more freedom in the long run. You will have choices.

It sounds like your friends are just starting out? You said 'the plan' was to have sheep etc. I think if this is new to them as well, you may all be in for a shock. If they are already established and have a clear idea about how you would fit in and what your responsibilities would, then yes, buying something first and then giving it a go could be an option - but you will always have something to fall back on.

You never have to spend thousands on furniture etc... Freecycle, local auctions etc you can pick up very decent furniture for a fiver - literally. A tin of paint, you're done. Worrying about the 'what ifs'... boilers, roofs etc - well that is the same for most homeowners starting out and even later. Plus if you buy a flat then all of the big stuff will be covered in your service charge.

I really think a lot of people who are shouting 'Yurt' here have the bucolic dream in mind and not the reality. The reality could be amazing - but give yourself some security first.

Buy the house

Long mortgage to make it affordable (with option to over pay if you can)

Get one room nice and comfortable asap

Do repairs gradually, when affordable

I think yurt is a bonkers idea. Very easy for MN posters to say "Go for it" but they wont be the ones sleeping in a tent in winter, watching house prices continue to rise

In your situation I'd do the yurt for a few years but still carry on working full time for now and save as much as possible, then review how you feel in say 2 years (see yourself through at least 2 winters) and look into buying again maybe. You may find you love the yurt situation and drop to part time but at least you'd have a bit more savings behind you for the future.

Oh actually having read more posts this is what I'd do! Great idea

Live in the yurt. Or if you choose not to, please can I?

Security and freedom

But you won’t have either of these as you’re reliant on others- your friends and your parents.

Live in a yurt if you want, but you need to be independent.

If you live in your friend’s tent, what happens if it gets damaged or needs to be replaced? Who pays for that? What if you want to go traveling during core veg-growing time? What if the yurt floods and all your possessions are destroyed- who pays to replace those?

It sounds like you have this romantic notion of going it alone when really, you’ll be relying on everyone else to provide a lot of the basics for you.

Buy the house