Gap Year ...?!

Hi all - not sure if this is the correct place to post this but here goes...

Hubby and I are both 55 and are in a fortunate position where we have a house (no mortgage - rented out = monthly income), a flat (leasehold - mortgage but rented out to cover all costs) plus the house we currently live in (mortgage = covered by salary etc.).

I am in full time employment and hubby is self employed carpenter - we're both feeling we need to cut loose and do some travelling ... and we are very lucky in that we could use the rental income from both houses to fund our travels - rent on the house that is mortgaged would be sufficient to cover the mortgage plus give us a monthly income...

We're thinking of selling the flat to give us some capital - buy a motorhome etc. and enable us to have a bit in the bank...

Has anyone any advice for us...?

Any suggestions...comments...gratefully received - are we completely bonkers?!

Thanks!
Rustie
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Replies

  • Eliza_2Eliza_2 Forumite
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    Do it - you have no choice!




    It's not that bonkers,loads of people do things like this nowadays, it's pretty ordinary really. Have a look on some of the motorhome forums and you'll find lots of like minded people who are full time motorhomers.
  • Savvy_SueSavvy_Sue Forumite
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    rustie wrote: »
    are we completely bonkers?!
    Far from it! If you've researched it thoroughly and you can keep a base to come back to (even if you'd have to give notice to tenants), then why would you not?

    OK, life could be 'interesting' when you come back, if you struggle to get another job, but if you're prepared for that possibility and can live frugally if that's the situation, go for it!
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  • caveworkcavework Forumite
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    OH Please GO FOR IT!!
    Hopefully we wiil follow you in a couple of years
    x
  • missilemissile Forumite
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    We retired early rented our house and moved to sunny spain and throroughly enjoyed it. We are now back in UK, both working part time and enjoying that too. Next we shall ... ?

    Fine for a short vacation, but I would not like to live in a motorhome for a year. You can afford it and if that is your dream, then go for it.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • Savvy_SueSavvy_Sue Forumite
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    missile wrote: »
    Fine for a short vacation, but I would not like to live in a motorhome for a year. You can afford it and if that is your dream, then go for it.
    That's a good point, one of my siblings has a narrow boat and boy is it narrow! I feel a bit claustrophobic on it (and I'm not normally a sufferer) - of course it's fine if you're up front or out the back in the fresh air, but that's not always desirable!

    I'd have to have a wide motorhome ...
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  • Eliza_2Eliza_2 Forumite
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    Savvy_Sue wrote: »
    That's a good point, one of my siblings has a narrow boat and boy is it narrow! I feel a bit claustrophobic on it (and I'm not normally a sufferer) - of course it's fine if you're up front or out the back in the fresh air, but that's not always desirable!

    I'd have to have a wide motorhome ...

    why not rent one for a couple of weeks now and see how you get on. I have a tiny campervan and while obviously you have to adapt, the freedom is wonderful and you get used to it. I wouldn't use it to full time in,but I have been seriously thinking of getting a bigger one and full timing in that.

    Eliza
  • OldernotwiserOldernotwiser
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    My friend's just come back from a round the world gap year to celebrate her 60th birthday; amongst other things, she worked for a couple of months on a sheep farm in Australia and rode a Harley Davidson in the bush country for a week. All of this was done on her own.

    Go for it!
  • edited 6 August 2011 at 9:55PM
    ausanglierausanglier Forumite
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    edited 6 August 2011 at 9:55PM
    Yes I agree go for it.
    But I don't like the sound of those two mortgages you have.
    It's difficult to offer advice, although everybody's jumping in and saying go for it, without knowing how much you owe on the two mortgaged properties. Also we would need to know the true value of all three properties in these bad times. Also at your age, how's your pension provision, you may come back from your adventure and never be able to get another job.
  • rustierustie Forumite
    55 Posts
    Eliza wrote: »
    Do it - you have no choice!




    It's not that bonkers,loads of people do things like this nowadays, it's pretty ordinary really. Have a look on some of the motorhome forums and you'll find lots of like minded people who are full time motorhomers.

    Thanks Eliza - my thoughts exactly! although I do veer from "yikes' to 'what the heck.."!!

    We are very fortunate to be in this situation and I feel if we don't do it while we're still young enough, we'll just get stuck in the 'work to live' cycle...
    thanks again!
  • rustierustie Forumite
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    Savvy_Sue wrote: »
    Far from it! If you've researched it thoroughly and you can keep a base to come back to (even if you'd have to give notice to tenants), then why would you not?

    OK, life could be 'interesting' when you come back, if you struggle to get another job, but if you're prepared for that possibility and can live frugally if that's the situation, go for it!

    Thanks SavvySue

    We have given it lots of thought - like you say, we will have a base to come back to - but failing that (we might like life on the road!) - we can both do part time work - hubbie is a carpenter / builder / do everything chap and I have teaching (ESOL amongst other things) plus IT and Special Needs IT ...

    Thanks for the encouragement!
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