Alternative to home ownership

[Thomasparker10012]

Sorry for posing two threads in the same of 2 minutes but wanted to ask

What are the alternatives to traditional home ownership? I know that I will never be able to afford my home due to the large deposit I will need and my salary. I was thinking about moving up north as I feel properties would be cheaper but given the way Manchester is going and the arrival of HS2, properties prices in the midlands and the north will be similar prices to the south east. I saw a property near to where I live, it was for 140,000. I thought that was reasonable but it was only for 25%. My grandchildren would still be paying the mortgage off. I am now thinking about alternatives, shipping containers? Mobile homes? Campervan?

This sounds a bit bizarre. 140k for a 25% share? So 560k full price? That would get a 3-4 bed house in my part of London. Flats cost a fraction of that. How much can you afford?

Speaking of alternatives, I’ve got friends living on a boat. Can be bought for less than a flat but there’s a lot of faff with maintenance and mooring fees + other costs are pretty high.

A camper van isn’t a home and you wouldn’t have an address. Good for weekends away, though.

What about shared ownership or help to buy? Neither are ideal if you can afford to do otherwise but better than renting?
With help to buy you only need 5% of your own deposit. Where abouts in the country are you and what can you afford mortgage wise?

Barge? I know a couple & their toddler who have lived on one for 10 years now (pre-toddler obvs). Wouldn’t be for me but they love it!

I think you are a bit misjudged by the North. I am from Yorkshire but lived in Berkshire/Hampshire for 10 years. I’d have struggled to buy a 2 bed house in a reasonable area with my budget of £185,000. I moved back home to Yorkshire & bought a 3 bed semi with south facing garden for £184 in a desirable village. I could have got a little 2 bed terrace/cottage for less than £100,000. Again, in the same nice village. You can get lovely flats for £100-150,000. I don’t live in a major city but I live in the Yorkshire countryside within commutable distance of Leeds, Sheffield & Manchester.

Tiny house (intentionally living in a very small space, or building your own very small house). Land with planning permission expensive in England though. There is a Tiny House UK FB group you could join and ask for advice.
I know people building their own house in their patents' large garden.
Living on a boat (take mooring fees and boat maintenance into account).
Relocating to a cheaper area. The North is not just Manchester, there are many many areas cheaper than SE. Also could consider some areas of Scotland and Wales and Northern Ireland.
Relocating to somewhere you might get Council housing. I saw someone who has relocated to Shetland and said there is empty council housing you can apply for as a newcomer.
Get a job that comes with accommodation.
Buy a house jointly with a good friend.
Relocate abroad - I met someone relocating to a cheap area of Spain. They could work online and said housing and living costs v low.

I think there are parts of the UK where you can get a house for £140k like this one in Wales:

www.rightmove.co.uk/properties/72977958#/

Otherwise shared ownership or a boat or mobile home.

Liverpool. You can get a nice three bed terrace/end of terrace in a nice area.

Confusing thread, if you’re saying you were looking at a 560k house and thought it was on for 140 and only thought it was reasonable, it would indicate you are very unfamiliar with property prices in your area.

Cheaper solutions would be a park home, you can live in them year round.

www.onthemarket.com/for-sale/mobile-park-homes/greater-manchester/