How much excluding mortgage to live

[BrentCross]

Ok so I have been under serious stress due to my job. It has made me ill and I can't continue. Will have around £10k savings and have 300k equity in house. DS costs effectively nothing as his DF pays for all his costs. My plan is to relocate to a place where I can buy a house for £100k, and buy a 1 bed flat to let which after ea coSt's should bring in £600 a month. At th moment I have an average lifestyle small car shop at market etc and reckon I spend net £13000 a year on everything except mortgage. So amd this is where I am looking for reassurance to maintain the same life where I am relocating(same cost of non housing living as SE England where I am now) I would need (£13000-(600*12)) ie £5800 a year net. Does this sound reasonable? I earn good £ now but really really can't carry on the stress is killing me.

definitely time to change, life is too short.

but two big questions:

1. if a house is £100k, are you sure that flat would bring in that much? In my area (perfectly liveable part of the world) 2 bed semis are about £130k and 1 bed flats about £90k. But they bring in £400 GROSS at most. Then you have EA fees, hefty insurances, fixes, maintenance etc etc. And tax.

2. I live frugally but comfortably, but I could NEVER do it for £6k a year. One person doesn't cost half of two. I think the real essentials are the best part of £800 a month without a mortgage/rent.

special very helpful. Have done my research and a £200 flat will bring in 6kish a year after tax. I know I can't "retire" on that, should have explained in my post but I was thinking of working for myself and reckon I could close the ca. £6k gap on that. I was working on £1000 pcm excluding mortgage.

You will have 1k pm
No mortgage? Just you and your son?
I think that would be quite easy done tbh as long as you don't have high childcare and travel costs

Sorry I think I've misunderstood. You will have 650 a month?
It depends where you live?

aha, i see. Not impossible. £1000 does allow haircuts and stuff, but clothing only when needed and only in the £20 trousers range. Car use needs to be minimised - but you'll have time to plan and shop around. I think it can be done.

rental costs: legal expenses insurance, rent guarantee, malicious damage insurance, home emergency cover, landlords buildings and contents, boiler service, gas safe cert (if you have gas, possibly not in a flat), plus agent fees.

future? Pension?

Well 1k pcm implied making £350 net myself which I hope to be capable of. As I said net costs of DS are zero as his DF pays