STRs..did you ever doubt?

PasturesNew

silvercar wrote: »

If you hadn't sold when you did, would you have been able to maintain your mortgage without any extra help like a lodger?

If not then STR has paid off whatever happens in the future.

No, any lodgers would have been annoying early-20s people. Apart from my speshulness causing issues, those sorts turned up in my ex-town to party.

To have afforded to keep the house running I'd have needed 3+ lodgers really. And the house needed work doing such that having lodgers would have created an ongoing financial commitment of maintenance/upgrade.

I knew which things didn't work, or needed special treatment; which special measures to take to ensure XYZ didn't break. Lodgers don't live like that.

STR was the only way to go.

pickles110564

PasturesNew wrote: »

And the house needed work doing such that having lodgers would have created an ongoing financial commitment of maintenance/upgrade.

Why did you buy such a wreck in the first place when you did not have the skill or money to put it right?

PasturesNew

pickles110564 wrote: »

Why did you buy such a wreck in the first place when you did not have the skill or money to put it right?

!!!!!! happens ... and you find out more that's wrong after you buy it ... then you can't find people to do work and you can't afford it because of a severe change in circumstances, so you end up with 150 things on the "To Do" list without thinking about it.

Easily done. When I bought the house I was well paid, a year later I wasn't and never was again. When I bought the house the only problem was finding people to do the work, a year on the biggest problem would have been finding any money to pay them.

So you sit in it as it is ... because there aren't many choices. Then you sell when you've tried for 5-6 years to improve matters and it all comes to nought.