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?

Well done you on working hard and saving.

It's not your issue that repeated governments have allowed a million immigrants per year to create a housing crisis... encouraged by the "refugees welcome" mob.

If you're letting your sister live in it rent free, then fine, no problem.

It's the people who buy up small properties in popular holiday towns and then leave them empty for three-quarters of the year that really wind me up

If people expand their horizons there are still properties available for 100k or way under.

I had to look outside London but I paid 115k for my house, not flat, with front and back garden, in 2015. South east, commutable distance to London. Admittedly a little further than you'd really like but I commuted for a year and many, many people commute in still.

It's there if people are willing to put themselves out 🤷‍♀️

Well I bought in zone 4. Although we dont live in London now because we had to find something cheaper

Oh ffs, stop with the pointless hating & baiting!
Well done on being successful, OP, you’ve obviously been really focused to get where you are. Letting DSis live in the flat is a great idea & I’m sure she appreciates it immensely. In your place, after she graduates, I’d have it as a fair rental property and concentrate on enjoying my family home.
Best wishes to you & DSis.

Yep! And why the details about being able to have a party at home rather than hiring somewhere? 😂

🤣 utter jealousy! I have 3 properties. And I don’t rent them out. 2 abroad. One for skiing one for the summer.

good for you OP.

I have done similar but not in London. I bought the worst house on the street, the one nobody wanted so it hung around or eventually went to auction. I deliberately sought out properties like that.

Then I did all the work myself whilst working full time. I've done that 16 times It is possible if you're canny and prepared to pretty much devote all your waking hours to work, renovation and learning new skills so you don't have to pay someone else to do plumbing, plastering etc.

Every time I sold I invested the money I'd made in the next property. On occasion I lived in a van on a campsite between properties. Eventually sold and downsized massively (to another 'worst house on the street' that has taken me two years, full time to renovate myself.) Have a roof over my head and retired early with money in the bank. I worked seven days a week, most weeks of the year for 20 years to get here.

That might be harder for young people now but it as possible as it always was if you graft like a demon, are prepared to live in a total shithole and invest all your time and money.

All of this. Maybe don't brag about your privilege. It's really not a good look.

Neither is resenting or being jealous of others just because they have things you don't have.

I don't know why people think you are greedy/grabby

You sound extremely generous and kind gifting your sister free accommodation for a number of years.

I have two houses. It’s a very fortunate position to be in. Not something I would mention it’ll unless it came up (and then I tend to describe my weekend place as a cottage when it’s actually a 6 bed farmhouse) because it comes across as braggy.

I wouldn’t use the term bougie as I tend to associate that with aspirational brands rather than actual wealth.

I don’t think you’re doing anything wrong letting your sister live there- two people, two homes. What’s the issue? I think my own position (one family, two homes) is less defensible.

I mean genuinely what what the point of this thread other than to have a raft of other MN multi-property owners to cheer you on and tell you how amazingly fab you are.

The need for online stranger validation is odd.

I agree with those saying the numbers don't add up. Zone 2 property went up in value loads at one point- but was firmly 'up' 12 yrs ago and you didn't sell it to buy the new one? How many hours did you work at uni? What were you doing? Were you breaking uni rules about the number of hours you can work? Did you pass your degree? What job did you get after uni? Travelling an hour to work or uni is totally normal in London - but not really from zone 2 unless the uni is on the other side of London but then weren't you paying huge travelling costs? Exactly how much was the deposit on your first flat and how much were you able to save a month while you were studying?

Why?

Agree, and if someone called me posh I would say thank you. Op you need to work out why it bothers you in order for it to stop bothering you.

But more power to you if you did manage it. You should write a book explaining how with a budget template for other people with no family money to follow.

You worked hard and made savvy financial choices; you shouldn't let other people's jealousy take away from your accomplishments.

It does come across as you are boasting when many many people cannot afford one property let alone two. Why care what others think of you? Just keep doing what you are doing.

No idea what bougie means I must be getting old.

Such a weird word. Is it commonly used?

but owning the asset is not the same as being "rich" since the money is tied up in the asset and not even producing an income for the OP

The only time OP will be "rich" is when they sell and take the money

Do 40 year olds really say bougie?

I don't really know what the word means - but situations can vary massively with regards to property - i have a friend with two properties owned outright, fab. Also a friend with two properties both with huge mortgages - very different and maybe not the greatest idea. (You may have a student loan on top too if you used that to buy the first property).

I wouldn't worry what other people think though - if your set up works for you and makes things easier for your sister then that's great.

No it's not bougie to own more than 1 property.

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.

Even if it was with "bank of mum and dad", it still wouldn't matter.

Sounds like you're inadvertently accusing a group of people of being posh and not hardworking while not wanting others to feel the same about you for their own reason. I guess we all have our bias.

I don't really know what the word means - but situations can vary massively with regards to property - i have a friend with two properties owned outright, fab. Also a friend with two properties both with huge mortgages - very different and maybe not the greatest idea. (You may have a student loan on top too if you used that to buy the first property).

I wouldn't worry what other people think though - if your set up works for you and makes things easier for your sister then that's great.