"Homeowners" who can't afford to be "homeowners"

jennihen

I'm having many sleepless nights as a FTB!! The biggest fear is losing my job or getting ill as I can no longer fall back onto housing benefit. Also I lose the security of having savings - a luxury I didn't have for years as a single parent.

I did have a survey done though on my property which only pinpointed a slight problem in the subterranean end of the kitchen. Lets face it though - Its a always a gamble and I'm buying this house as a home for myself and my 3 children not necessarily an investment (although I'm hoping that over the next 15 years or so that I need a large house it will rise in value . . )

I have few 'skills' when it comes to maintenance and repairs partly because having always rented it was the LL's responsibility and partly because I'm a woman!! I'm looking forward to learning though and have many skilled men in my life thankfully.

I rented this brand new build house for nearly 6 years and have had no end of problems. All the rubber seals on the taps and toilets have perished because the system was never flushed through (90% of the houses on this estate have the same problem) and my condenser boiler filled with water last winter leaving us with no heating or hot water for 3 weeks. There are thousands of cracks as the building settles - even tiles are cracking. The garden has shifted pushing out the supporting wall, the patio floods over the back door jamb and the roof leaks in 2 places. The fences and decking all need replacing and the spotlight bulbs in the kitchen and bathroom half a life of about 3 weeks. I pity my LL!

My point is though that I'm in a position to buy so the £7.5K pa I buy him is effectively going to invested in my future not his.

My mortgage is a lot less than my rent and I have spent the last 18 months planning this move and, more importantly, revising my budget. I've never had insurance before but am looking at things like boiler cover.

Its all a bit scary really and not something I undertake lightly but its also a natural progression. As my circumstances have changed over the last decade so have my expectations.

System

My DIY skills = 0.

Luckily I have countless mates that are chippies, decorators, builders etc.

Mates rates is the way forward in life.

Davesnave

chucky wrote: »

i'm still to decide whether you qualify for visionary status or someone that states the obvious...

I'm with you there.

the market itself amongst other things dictates what sells not the condition of the property - people will always buy less maintained properties because they see value not the value that you see. it's all subjective.

I think that sums up my present place very nicely. You can change stuff relating to the house, but you can't influence the aspect, or the surrounding environment.

I prefer to get involved with stuff I can control. Give me an avocado bathroom any day, rather than a north facing slope or a loony neighbour!

phil_b_2

Orpheo wrote: »

I think the costs of maintaining a property are often downplayed by those who aren't paying attention to all of the things that they are paying for as a mortgagee. In my experience, the annual cost of renting is cheaper, you just don't benefit from HPI in boom times.

People are entitled to not be competent at DIY, do what you are good at, earn money and pay others to do what they are good at. Lack of motivation to maintain your house is either laziness, carelessness or mental illness. Frailty and disability excepted.

So I guess house maintenance costs depend entirely on the owner. Someone who is a competent DIYer and has good maintenance resources can keep a house going rather cheaply. Someone who is the opposite may find themselves forced out due to the inability to maintain it.

It's not a clear cut argument.

Orpheo

phil_b wrote: »

So I guess house maintenance costs depend entirely on the owner. Someone who is a competent DIYer and has good maintenance resources can keep a house going rather cheaply. Someone who is the opposite may find themselves forced out due to the inability to maintain it.

It's not a clear cut argument.

I think you are right.

chucky

phil_b wrote: »

So I guess house maintenance costs depend entirely on the owner. Someone who is a competent DIYer and has good maintenance resources can keep a house going rather cheaply. Someone who is the opposite may find themselves forced out due to the inability to maintain it.

It's not a clear cut argument.

to add to this - if you're looking to move in the next couple of years you always tend to neglect your property or maybe maintain it not as well as you would have if it were in your long term plans.

davilown

Joeskeppi wrote: »

My DIY skills = 0.

Luckily I have countless mates that are chippies, decorators, builders etc.

Mates rates is the way forward in life.

Yep - nothing beats paying for the parts and a full cooked breakfast as labour charges!

daisydays

PasturesNew wrote: »

I am me. Only me.
But my balance of mind has been disturbed by my environment, so I'm agitated... which is why it is 3:01 and I am wide awake and posting.

Oh - and for the sake of your inadequate record-keeping, I'm a girl.

I thought 54-year-old females were called women.

MrsE_2

Orpheo wrote: »

What I'm talking about here is mortgagees, not those who truly own their homes outright..

Being as renting is almost always as expensive as buying or sometimes even more so what do you suggest people do?
Live on the streets?

olly300

daisydays wrote: »

I thought 54-year-old females were called women.

She can call herself what she likes.

I have a habit of calling some of my male neighbours who are in their 50s "boys".