Is it "bougie" to have 2 properties ?

[IHearYourVoiceItsLikeAnAngelSighing]

Hello Mumsnetters,

I bought my first property; a flat in zone 2 about 7 years after I finished university. No bank of mum and dad or inheritance, just saved up student loan and 7 years of hard work; frugal living and lots of saving. I paid it all off, saved up again and earlier this year I bought a small house in zone 4 as I have a child now so need more space and also a garden means I don't always have to leave the hosue for my child to be able to play outside. It was a practical/strategic move as I specifically bought in an area with good primary and secondary schools, lots of green areas and also now I don't have to book a venue for kids party as I just use my home.

The issue is, now I'm being "accused" of being posh/bougie because I have a "flat in the city and a house in the suburbs" even though I am still completely myself. I live a very simple and frugal life; shop at lidl, buy whatever I can in bulk so it works out cheaper, never owned a car and my winter coat is at least 10years old.

I don't know why it bothers me but it does. Am I worrying over nothing?

Do they mean bougie or boujee? I wasn't familiar with the term (I thought it meant bourgeoisie/middle class) and so looked it up and was surprised that there are two words, same pronunciation, different meaning.

Apparently bougie means people think you are class obsessed/snobby, have expensive stuff to show off.

Boujee means you like luxury and have earned enough to afford it but are true to your roots.

Who knew?

Anyway first one is an insult so that's rude.
Second one is a compliment, I think, like you've done well for yourself but seem a genuine person.

@ItsAWonderfulLifeforMe I wish then I wouldn't have to pay a that interst but no ...I have a long mortgage on it.

In the circles I’m in maybe it’s not bougie but definitely middle class. To have lots of cash tied up in a second property that’s not their home just generally signifies a certain level of wealth when lots of people can’t afford a deposit for one property let alone 2
or more

Bloody good for you. I’d be chuffed and proud of myself. Being sensible is under rated.

Christ, I hope you are being sarcastic!

Joking aside, this kind of hate is only gonna get worse

@IHearYourVoiceItsLikeAnAngelSighing you'll have to just ignore it or be very secretive about your situation.

I would hope your friends could just be pleased for you, but sadly it looks like life is not like that

Just curious, have you had a look at how much interest in total you will pay over the course of the mortgage, would you be better off selling your first property to pay off your mortgage now? (I realise you will probably have some CGT to pay on this)

No, I don't hate myself.
But I hate the property market being so horrifically over inflated that people like you get rich by sitting on bricks and mortar whilst people like me can't get on the first rung of the property ladder.
I'm 40 too. And I work really, really hard doing really long hours in my chosen profession.
Yet still I can't afford to buy a home for myself because of property prices, whilst you have two.
I hate the unfairness of this.

I also have two properties, it’s also normal on our circles, it’s definite bougie though and I think you’re a bit out of touch if you can’t see that.

Depends on your age really.

How did you use your student loan to buy the flat though? Did you not need it for uni?

I don't know about 'bougie,' but it is unnecessary and entitled for sure. It certainly doesn't make someone 'posh' though. 🙄 No-one should own more than one property. No-one.

The issue is the fact it was far easier to buy property in the past. Things have changed for younger people & it's not a reflection of how hard someone works.

Who accuses you of this? Ignore them. They are jealous and insecure. You have worked hard and done well. It’s kind of you to help your sister. None of it is anybody else’s business.

@ItsAWonderfulLifeforMe yes it's a lot of interest but ive done the maths and try to overpay as much as I can so it reduces dramatically. The overpayment calculators are a blessing. I thought of selling but my sister is at uni and will be for at least 3 more years so if I sell she'll have to rent.

Also there's something a bit disingenuous about your post.
You're 40.
You bought in zone 2 seven years after uni, that's aged around 28.
So 12 years ago.
You bought in zone 2 twelve years ago independently? And paid the mortgage off?? A 25 year mortgage paid off in less than 12 yesrs? And then saved enough to buy a second home in zone 4? As a single adult?
You may not have had help from parents or an inheritance, but something's not adding up here.

I think it’s not unusual to have both a family home and either an investment property or a holiday home.

But yes it is bougie to be bragging about it on Mumsnet.

😂 wasn’t that what Angela Rayner used to say.

Well done you, you should be proud of yourself. If anyone comments again just tell them working hard, providing for your child's future and giving your DSis a leg up is not bougie.

@beaniebabby i worked part-time and lived mostly on my earnings. Campus accommodation was more expensive so I rented a room in a shared house an hour away from uni.

I’m sorry you feel this way, but gently it isn’t @IHearYourVoiceItsLikeAnAngelSighing‘s fault. We have a capitalist society and it sounds like she has worked very hard, that doesn’t diminish your efforts, but presumably you’ve chosen a lower paying but rewarding career.You can’t expect people to do themselves down for you, life doesn’t work that way and it also isn’t fair.
So much hate is bad for you, I hope you can find some contentment.

Sounds amazingly cheap.
I worked throughout uni but my student loan didn't cover all my rent & of course I needed to eat etc.

Oh "poor me, life's so unfair for me"...boo frecking hoo!

Same age here, and own multiple properties. You cannot afford to buy your own home at 40 years old due to your own life choices or lack of financial responsibility. I bought my first two houses in a property peak in my 20's, so didn't make any profit when I sold my first property, overpaid for my second property and within months the market crashed, meaning I was in negative equity and unable to sell it when I had to relocate for work.

I was NOT a high-earner at that stage of my life. But being sensible with money, saving hard, not overspending, and making wise career choices, I managed to get through that, and go on to buy multiple more properties. So now, I don't have to go out to work, and can raise my children with the income from them.

This isn't a brag comment, it's a comment to say that it is NOT the fault of people like me or the OP, that YOU have not gotten on the property ladder. There has been a crash since you were an adult and I struggle to believe how someone at 40 years old hasn't been able to save up and buy a property, even if it means buying somewhere cheaper to get on the ladder, you've had two bloody decades to work and earn.

There is nothing unfair about this, you have exactly the same "poor me" attitude that my younger sibling has, yet her own situation is down to her poor life choices and lack of financial responsibility. Own your own life choices. Envy is a horrible trait.

What a mean and petty response. You're immensely privileged and you know it. Try and enjoy it without rubbing other peoples noses in it.

You cannot afford to buy your own home at 40 years old due to your own life choices or lack of financial responsibility.

Well I only bought in London because I could live at home for cheap rent & had a cash gift.

But OP has worked sooooo haaaaard don't dontcha know...