To panic about where I’ll end up in years to come..

[RSitf]

because I rent?
Because of my job (wfh) there are lots of criteria that need to be met. The house I’m in I love..it’s perfect..if I could buy it tomorrow I would..sadly I can’t afford a garden shed in todays climate!
But I’m conscious that prices are crazy..my LL is elderly and i worry so much about how I will cope. I live on my own.

Does this worry anyone else?!

Thanks for the replies.
Buying a 1 bed is out of the question sadly..if I could I’d be happy to change to my career.
I guess it goes hand in hand doesn’t it. My job needs the house..smaller house of course I’m fine with..but I can’t do the job! And sadly as I’ve said where I live (as I’ve done for 20+yrs) is now unaffordable. I honestly have sleepless nights about it as I’m sure other people do. (Which is daft as i can’t change it)
if it was just a worry of hoping to find a flat or ‘any’ property I guess it wouldn’t be so bad.

@Perple im in a part of the country that’s v expensive..that’s just bad luck and times have changed. It would mean me moving away from friends, family and my new granddaughter. The thought is heartbreaking. I hate to sound greedy and seem to have an answer for everything but the thought of living away from everyone who matters to me, to be in a ‘bought’ home doesn’t appeal at all. I do feel like there isn’t an answer.🙁

I think the answer is to look realistically and seriously at pension provision and invest wisely and as much as you can. How old are you?

@Perple would this differ much from being employed do you know?

not sure totally what you mean - But in the sense that there is no employer paying in for you then yes. But you can still get the massive tax benefits.

@RSitf I understand I also live in a very expensive area.
Have you looked at shared ownership at all? This is what I will be doing. You are able to get small shares. And even though paying solely a mortgage is more ideal, it is difficult on one income. Also cheaper than renting a property

@Perple not sure what you mean re tax benefits?
@Marshmellow123 I haven’t..because I’m Self employed and don’t earn enough od imagine even to do that where i am. So
hard isn’t it

@RSitf it's worth having a look into, I didn't think I could aswell. I work part time. If you are self employed 2 years of accounts should do.
I hear you, it is really hard, you are not alone.

You don’t pay tax on the money you put into a pension.

so for example if you put (rough figures!!) £80 of after tax income into your pension if you’re a lower rate tax payer it would actually end being £100 in the pension because you don’t pay any tax on money that goes into your pension

Call Pension Wise and they might be able to help or give you a point i the right direction

@Marshmellow123 thanks. I actually read the thread re pensions earlier and you can check your individual state one.
i did work for an employee for 14yrs and still pay Ni so I’d better get saving!

Long shots maybe, but could you team up with someone else who child minds and is single? Run together but able to have more children? Sharing household costs etc?

Get a tenant?

@LoneParent1 the logistics of sharing childminding are complicated. If one of us were poorly it leaves one with too many children which isn’t safe.

i rent so no lodgers allowed