Pack in the job, rent out the house, get in the camper van, fuck off

[GotTheBug]

WIBU to do the above?

We have a house with a small mortgage, stable but unfulfilling jobs, a camper van and itchy feet. Some savings (but not a huge amount!) No kids at home, one ageing but currently still independent parent nearby. Both of us early 50s and healthy.

We have talked about doing this for years and I'm increasingly starting to think that we should do it now before we get any older - also I'm aware that my DF may need us around more in the years to come. I guess I'm worrying that if we leave it another 10 years/wait until retirement we'll have missed the window.

Obviously leaving the job and renting out the house are massive steps and that scares me - so much to potentially go wrong. But at the same time, life is for living, right? We could rent out the house easily I think - seaside location, an hour from London on the train - and the rent would pretty much cover our travel expenses. DH could take a career break for a year or so much more easily than I could, though, and we'd be pretty skint on our return.

Would we be mad to do this, or mad not to?

If you’re free this weekend, the Adventure Travel Show is on at the Business Design Centre in Islington on Sat/Sun: https://www.adventureshow.com Might be useful for inspiration!

If you’re on FB, the Globetrotters Club has some free or discounted tickets.

Do it. I resigned on Monday after working with a toxic team and felt like I’d been sprung from prison. Life is for the living !

Hell yeah! Do it.

IF you like the
idea of the transient living. It would be my worst nightmare in my 50s..it depends who you are

when you return you could always continue to rent your house and live somewhere much cheaper

if your house is in reasonable condition it should tick over but definitely use an agency to manage it and get insurance if your dependent on the rent

my friend has just done this - 2 burnt out people in their 50s - she’s now in Asia and is supporting herself with work online..what’s not to love! If you love that! I would hate it, but she’s found her home. Although they did sell their house and invest the money and are living off that investment

im having a similar life here, prioritizing things I love. I like blighty!

Also, caring for parents can take years out of your life. We spent four years intensively caring for my husband's mum, and lighter duties for 15 years before that. It literally was a touchpoint our entire marriage, doing DIY for her, garden duties, taking to appointments, having her over for meals, then fielding carer's phone calls, deaing with her loss of memory and frailty, etc, etc.

Our financial advisor had something interesting to say to us...he said...you know, I could tell you to put more of your cash into a pension or other investment vehicles because the returns are better, and I'd get a better commission. But then your money is bound up. Past a point, you need to spend your money otherwise it will just go for care costs or to the charity in your will.

Shrouds don't have pockets.

If your house is in a rural area, Rural Retreats is a decent agent and sorts the bookings for short term lets, gives advice on cleaners and sets it up so you don't have hassles. (no I am not affiliated...my friends used them and thought they were good).

@GotTheBug as you live by the sea an hour from London, I think you might live where we used to. ;)

I did a lot of research as we were thinking of renting out our house, and give your location, absolutely go for a specialist and LOCAL Airbnb lettings agent. A) the returns are far higher than residential and B) Airbnb guests don’t suddenly decide not to leave - they come for a week or a few days.

Go, for gods sake go! But definitely heed advice from seasoned vanlifers on here and rent a campervan for a holiday first to help you decide what you want/need in terms of motorhome. draw up a proper budget too, and have a look at the workaway website - you can park up for free with people all over the world in exchange for bits and bobs they want doing. All have reviews and pics - similar to Airbnb.

i am excited for you!

I'd not rent the house out. We bought a house that was an ex rental, got it really cheap as it was half destroyed inside by the last tennants neglect. We know it wasn't bad landlord issues cause they had a few houses in the area and they had a reputation for really looking after their houses. Just this one tennant never reported issues or allowed inspections. Then they did a flit

Could you negotiate a year's unpaid leave from your jobs. That would be the best option. I'm not sure if I would risk burning all my boats.

Absolutely go for it.

A year of van life can be a long time in the best sense. It might give you completely new ideas about what you want to do with the next 10/20/30 years - including things that have never even occurred to you.

Life’s too short to whittle it away one day at a time in a ‘stable but boring’ job. As for risks, you’re hardly going to make yourself destitute by the sound of it.

Have you done the sums?

You need to work out your monthly income if you rent , based on rental, agents' fees, taxation, extra insurance, paying for repairs to the house when you're way etc etc.

Rental income will presumably cover the mortgage after those deductions.

If you don't rent your home what then?
How will you fund your outgoings in the UK and pay for the road trip?

As a teacher, your husband should be able to negotiate a sabbatical. By doing that even if he’s in a job he doesn’t particularly enjoy, you’d have security of one of you having a job to go back to.

I had friends who did just this, however it was far more expensive than they thought it would be! You say you have savings at the lower end of 5 figures which I know was a similar amount to my friends and they did eat through a significant amount of it. They said when I saw them at Christmas if they were to do it again, they sell up, add a proportion to their savings and invest the rest and buy a smaller property on their return.

I think why not! But I would just have a plan for what happens when you come back. As some have suggested, see if a sabbatical is possible ? Maybe even if you could do a month or 2 it would give you the opportunity to test the water on if you like extended time there. What about seeing if you can do a month in summer holidays when your OH is on leave?
After the last few years I’ve had I few that life is for living and we spend so much on taxes and working and then are we even able to get to that “retirement” period where we can travel etc.
If your job is niche, can you go contracting?
I certainly hope to do similar in about 10 years when kids have flown the nest and mortgage is paid. Id probably downsize then after so I could release some equity as we won’t need a house this size one day.

Selling up will bring its own issues.

In order to give notice at work and be able to take off straight after (to make the best of your year out of work) you would probably need to sell early and be prepared to live out of the van for a while before leaving work.

The timescale of selling property can be so drawn out, unpredictable and fraught with last minute buyer-pulls-out.

How do your pensions currently stand? Both got enough for state pension? Enough in your DH’s teacher pension? Enough to cover you if you don’t want to work until state pension kicks in?

I fully understand the impetus to get out there and travel… but unless you are in a job you love and have full health working until you are 67 / 68 is a big sacrifice to have to commit to.

Travelling once you reach your planned retirement age would be in a year you didn’t plan earning in anyway.

Sounds amazing OP, definitely do it!
we travelled for a year when our DC were tiny, and rented our house by word of mouth, - a family who wanted to move to the area and house hunt, friends of friends (of friends?) so it worked really well.
is that an option to ask around locally and then time the travels around finding good tenants?

I rent out one property with no mortgage and the profit from it is less than half the rent. Tax, fees to property agents, money aside for repairs and maintenance, landlord insurance and all the legal tests required etc.
There is also the cost of getting the property to the legal standard where you can rent it.

You do need to look into all this. If you are only looking at renting it out for a fairly short period (2-3 years) there is also the ethics of this if the tenant believe they are getting a long term let,. especially if yours is a family sized home. You should be honest about the duration of the let.

Agree! yes there are periods of 'adjustment' when you come home and have to reestablish - it takes a year or so, but what I gained from travelling and seeing new places was worth the upheaval and having to find a new home etc upon return. I have recently started a stable and interesting job that I would not have gotten prior to upping sticks as I would not have had the confidence to apply for it.

I absolutely would bother.

Imagine giving up on an adventure due to not wanting a bit of hassle.

OP, get a good management company and go for it.

I'm never going to have £100k in the bank or a 6 let alone 7 figure pension but it's certainly not going to stop me having fun and seeing the world. A year out in my 50's is c.£2k less in my pension which in the grand scheme of things isn't going to notice a jot and I'm not grafting for years just so I have money sat in the bank 'for an emergency'. I don't think many people £10k in the bank let alone £100k - maybe on mumsnet but not IRL.

Do it if you can afford it - enjoy!

They said when I saw them at Christmas if they were to do it again, they sell up, add a proportion to their savings and invest the rest and buy a smaller property on their return.

Yes, this is worth considering. Being an 'accidental landlord' doesn't really appeal, and we have talked about downsizing in the next few years regardless of any travel plans. We may not have 6 or 7 figures in savings but there is plenty of equity in the house which would allow us to put money towards travel and then buy a smaller place outright. (Probably!)

Is there anyone who could manage your house as an airbnb? If you're in a popular seaside location that could be better than residential letting as you can return more easily

We rented out our house and became camp site wardens. It can be hard work with odd hours, but great meeting all the different people who check in and a couple of days off to explore differentplaces. Jobs can be found on www.campsites.co.uk and Caravan Jobfinder. We worked for 7 months and spent 5 months abroad. Unfortunately Brexit laws have changed this to allow only 3 months in Spain, Italy, etc. Not for everyone, but we loved it.

@GotTheBug have you spent extended periods in your camper van before? I don't say this to put you off in anyway but just to check that it is something you could realistically do. I had a friend who recently spent a month travelling in a camper van with her DH and she found it an immense struggle, despite being in a country where it was warm and living was mostly outside. They had thought that they would do something similar to you but they are now rethinking that and looking at other options.

Do you have someone reliable and sensible who can keep an eye on your house and be available to sort out any issues that may occur?

Id declutter, put all the furniture in storage, rent the house out through an agent and let them manage it - 12% is usually agreeable for managed let

Don't give up your jobs until the rental is agreed

You'll need an electric certificate, Legionnaires, gas certificate and also make sure the house is C or D rating - probably cost around £1200 top end to get this done.

Then drive to Portugal in the camper van as its warm during the winter and cheaper than many other places in europe

Some of these replies are utterly miserable, go enjoy life OP. If taking a few months sabbatical is an option to test the waters then go for that option first.

Sell your house first, then travel. No landlord hassles, money in the bank, downsize on your return. As for getting another job when you get back, if you’re not fussy, catering, hospitality, retail and healthcare always have vacancies. Good luck! Now go!