Would you sell you house to buy your dream?

Jenny_

Any takers? Anyone thinking of it? Anyone done it?
Was it worth it? How did things work out? Where do you live now?
I know people on this site have at least come close to this as that was what found me the site in the first place- would love to hear comments/ considerations on this.
Espescialy the biggie- how did you avoid becoming homeless in it all?

property.advert

I should have been ok but in the end I had to sell one business and live on the money because the money from my divorce didn't come through in time and by then I was on the rack so had to settle for less than I could have. I missed it by about 6 to 12 months or I'd have been able to see out my days overseas with my feet in the ocean.

It cuts me up that I lost all that but with some luck and hard work I could go back in 5 to 10 years with way more than enough to see me out in luxury and have bigger businesses than I could have had and thus have significantly more security.

The key is to decide how far you leave the real world behind. For instance, if I had a 500k sum, I might buy a 250k flat in London and rent it out or buy half a dozen 60k flats for rent to student nurses or something. At least you would have something to fall back on.

If you don't have that then your choice is to take the chance or not. Do your homework and assess your situation. Your risk profile and your cash available is what will ultimately decide. Just know that living the dream is usually harder and more expensive than you think.

Nosht

I have 3 properties which I would liquidate if he right place came up & I could not realise the borrowing requirement. Whether or not it worked out would make no difference as we would be living in our dream setting.
Beans on toast every day would be worth it.


N.

sjcollett

There's a programme I saw advertised about a guy who sold up to fund his dream of a stage show - think it's called Starman (?) might be worth looking into - is that the sort of thing you are thinking?