Alternatives to buying a house?

oxgoldilox

I am new to these boards but follow advice from them periodically, so I'm keen to hear what people think I should do:

I put my house on the market this year with the aim of selling while the market was still buoyant, where I could get the price I wanted, and to find an interesting/unique place to live in a village/rural setting where I would live to 'enjoy' it rather than try to make money out of it (previous properties have been purchased to do up and make money on). I completed on my house sale yesterday and in the absence of finding somewhere suitable, have moved in with family for the foreseeable future. I am self-employed so could technically live anywhere, but would like to stay local for family.

Then, when my equity dropped into my bank account yesterday :T and I cancelled every direct debit for mortgage, insurance, energy, water, council tax, phone, broadband and paid off my credit card, I suddenly felt very free and started to wonder if there was an alternative to my plan.

What have other members done with a lump sum of cash and nowhere to live?! Did they ditch the property buying plan and buy a campervan? Canal boat? Persuade a farmer to sell them a barn? I live in Oxfordshire and am only talking £100k of equity, but am keen to build something myself or live in something unique. I am faced with a dearth of interesting houses on the market and curious to explore new options.

All ideas gratefully received.

Gwhiz

We're all different.

Some may travel, some may change lifestyle.

I'm downsizing and buying some fast toys for the garage and travelling to South of France and Italy

golddustmedia

Whilst you've got no ties and are able to work remotely pack a rucksack of clothes plus your laptop and do some extended holiday/travel.

I once spent a month in South Africa where good quality hostel (basically large B&B) accommodation was about £7 a night. I had an excellent month of travel which only cost £700 including all food/accommodation/travel etc.

Likewise I spent a year living in Australia and ended up getting head hunted for my work there.

Ironically I had saved for 18 months before I did that so I could live without "income" work and instead only do fun jobs for top up income. In the end I came back from a year of travelling better off than I left as I was so well paid over there!

If you've got your own business you can do remotely then who's to know you're using your laptop from a beach in South Africa???

Although my own views at the moment are that the market is very low and won't stay low forever. Maybe buy a modest flat or house and let it out for an extra income since money in the bank isn't doing well on interest and inflation will keep erroding it.

lincroft1710

I'm sure you'll find plenty of farmers willing to sell you a barn for £100K, problem will be getting planning permission to convert it into a dwelling and then all the associated costs with the actual conversion.

You could become a New Age Traveller, although a lot of them have moved abroad. You 'll be able to buy an old bus/coach and convert it for a lot less than £100K. Residential canal boating is a definite possibility, but the larger boats aren't cheap. Again some people have bought boats on the Dutch and French canals and are permanent "live aboards".

Campervans and motorhomes come in all shapes and sizes and prices that range from (second hand) less than £1K up to "you could buy a mansion for that amount!" I think a regular female poster (forgotten her username) is currently living in a motorhome.

GlynD

Buy a boat, live on it and move from place to place when you want a change of scenery.

BornAtTheRightTime

My OH and I bought an American RV, complete with satellite dish and slide-out lounge and went skiing in France for a season. We carried an inflateable cataramaran and sailed for the summer season.

oxgoldilox

Thanks for the great replies, and for taking the time to respond. I do like the idea of mobility (boat, campervan, coach - though latter reminds me of Cliff Richard...) so perhaps will look at buying a more modest house, and keep some money back to buy something with wheels or that floats.

Again, thanks for your replies.

Loopgames

Hi

We sold our home this year and again used the useful tips on here to help sell it. It worked. We didn't buy anything and instead decided to travel. Most of our capital is now invested in precious metals specifically silver. It's taboo to talk about on here so I won't go into it further.

We're enjoying life without direct debits as you said although last year I made a big mistake of purchased a car on finance so have to pay that each month right now. Oh well - live and learn - as long as I DON't do that again.

All the best.