Do you consider this ‘wealthy’?

[haleeeee]

Two kids in private school since primary. Two buy to let’s of around 250k value each. One holiday home value 280k. Own home mortgage free. Income allows for a few holidays a year circa 3k each time.

Wealthy? Well off? Or just better than average?

Wealthy but gauche/low class.

Real wealthy people don’t tell others the minute details of how much their properties/cars/school cost.

Fur coat, no knickers.

I’d say wealthy given the level of property assets. ONS measures wealth as disposable income, available cash and investments, and property equity. Sounds like they have well above average of all three. More like top 5% or above.

Majority of people I know do not own a house, neither did their parents (no inheritance tumbling down) and they probably never will.

We live in the unpretty northern pit village an area where small livable condition terraces in the not so glamorous villages regularly cost only around the £50k mark and doer ups can start at auction for £5k (selling usually for £18-£29k end value).

So yeah I think we must just be 'insanely poor' if someone needs to ask if someone owning multiple expensive houses is wealthy or just normal.

Mumsnetters - let me say this again loudly for those at the back! Do not discuss your finances with anyone other than your DH! People will chat your business all over the place.

Super wealthy - are not working and living the most lavish lifestyle on pure investments

Wealthy - working but have plenty of investments and assets and will retire early and be extremely comfortable

Comfortable - Working and enjoying a very comfortable life style. Some investments. Will retire a year or two early.

I imagine your relatives fall between those two categories depending on the size of their pensions and savings.

I would reduce contact if they are being annoying.

I would say upper-middle class. Far from wealthy or rich. Rich people have properries for millions. The values of these properties is really low.

Comfortable but not wealthy. At the upper end of 'normal wealthiness' for educated, middle class folk in early middle age.

Wealthy people are worth a few million. They live in million pound plus homes and have holiday home(s) abroad. They will have an investment portfolio and passive income. You are describing comfortable or well off.

Their main house is very modest in terms of value. So yes comfortable.

They are probably stretched beyond what they can afford hence the friction..

However well off they are relative to you or anyone else is pretty subjective. It perhaps feels insensitive to you that they complain that their lifestyle choices leave them feeling pinched. But ultimately they’re not responsible for how you feel.

sorry you feel shit. Let them know it hurts if you feel that would help. Otherwise tune it out…

And the award for Humble-brag of the Week goes to...

Fairly well off but not wealthy. Wealthy implies country estate.

Depends entirely on their level of hidden debt

... this couple.

The top 10% is a £60k salary. No way they earn as little as that with 9k a year on holidays and at least double that on school fees

100%

Absolutely
I am close to my family but I don’t discuss my finances with them.

its pretty simple. Forget the money, if you don't like the whinging then avoid them.

Until we know their income, then who knows? OP also says their main residence was bought outright for them, so the schools may be paid in part or fully by someone else too – or by savings.

I bet you'd find that a lot of their monthly income goes to service debt and lifestyle. Whilst to the outside world it appears they have a lot, they probably don't have a lot of disposable income which makes them feel like they struggle.

I'm not defending them, because of course it is their choice to live this way. They could reduce their outgoings considerably by selling the BTLs, kids in state school, cheaper cars etc. I bet you'd find they'd still moan though.

Have they told OP these details? It’s not that hard to find out this information. Zoopla will tell you any bought property prices.

Owning multiple properties is wealthy imo. Deposits on but to let are generally 20-25% so decent amounts of capital even if they have a mortgage.

How much is the family house worth?

Definitely wealthy. I always find it interesting that wealthy people do not, on the whole, consider themselves wealthy...

Do they own the holiday home and rented property outright or are they mortgaged?