At What Age Did You Move Out Of Mummy And Daddys?

J_i_m

25-30

Moved out at 26, moved back in at 28 due to financial struggles.

Saving for a mortgage and hope to be back out again in 2 to 4 years.

I would also stress that you can live unnderneath your parents roof yet still live a independent and responsible life, I work full time, I pay towards the bills, provide and cook my own food and also do my own laundry. I did that long before moving out, and I do so still.

It was a drag having to give up my own space, it was a joy not having to share a bathroom and kitchen, but I'm working on a rather more stable future.

Cleaver

Jimmy_31 wrote: »

Yes i agree, some of this generation are very selfish indeed, Ive even heard of some people buying more than one house just so they have a spare to rent out

Why is that selfish?

katydo12

18-25

MOved out with a friend while I was at uni, aged 19. MOved back to parents house with partner at age 21 then moved out again about 7 months later with partner. Just renting at the minute but dream of buying our own house however finding it increasingly difficult to save. Don't feel like we live beyond our means but always always seem to be skint!

Jimmy_31

Cleaver wrote: »

Why is that selfish?

Is this a trick question ?

Cleaver

Jimmy_31 wrote: »

Is this a trick question ?

No. I have never really understood the whole 'selfish' thing about buying a second property as an investment to rent out. Well, I kind of do. But I don't see how you invest in any asset whatsoever that isnt 'selfish' in some way.

Do you work for the private sector and have a pension Jimmy? Or a self-invested pension? Or do you have money saved in a bank? If so you have money invested in all sorts of companies that you could argue straddle some sort of moral boundry. For a start, if you're invested in a pension that has fairly standard funds then you're already invested in residential and commercial property companies through those funds. Or you have money money invested in tobacco companies that produce products that kill people, so you make money from cancer sticks. If you have money in a bank then you also help fund dodgy mortgage products and other random investments. If you shop at Tesco or ASDA then you shop at companies that are detrimental to their communities and shut down local businesses.

So, whilst it sounds like I'm saying that two wrongs make a right, how do you invest ethically? It's an interesting question. One could argue that by buying a flat and being a good landlord to a happy tenant you're providing a service. Compare this to someone who 'traditionally invests' money in BAE systems who make weapons to kill people. A very polarised example, but which is the more 'selfish' person?

Jimmy_31

Cleaver wrote: »

No. I have never really understood the whole 'selfish' thing about buying a second property as an investment to rent out. Well, I kind of do. But I don't see how you invest in any asset whatsoever that isnt 'selfish' in some way.

Do you work for the private sector and have a pension Jimmy? Or a self-invested pension? Or do you have money saved in a bank? If so you have money invested in all sorts of companies that you could argue straddle some sort of moral boundry. For a start, if you're invested in a pension that has fairly standard funds then you're already invested in residential and commercial property companies through those funds. Or you have money money invested in tobacco companies that produce products that kill people, so you make money from cancer sticks. If you have money in a bank then you also help fund dodgy mortgage products and other random investments. If you shop at Tesco or ASDA then you shop at companies that are detrimental to their communities and shut down local businesses.

So, whilst it sounds like I'm saying that two wrongs make a right, how do you invest ethically? It's an interesting question. One could argue that by buying a flat and being a good landlord to a happy tenant you're providing a service. Compare this to someone who 'traditionally invests' money in BAE systems who make weapons to kill people. A very polarised example, but which is the more 'selfish' person?

Its quite simple really, BTL helped push up house prices and the houses that the landlords bought are now not available to somebody who wants to put a roof over their head.

Landlords dont get into the BTL game to provide a good service to a happy tenant, they do it for one reason and thats the PROFIT.

Cleaver

Jimmy_31 wrote: »

Its quite simple really, BTL helped push up house prices and the houses that the landlords bought are now not available to somebody who wants to put a roof over their head.

Yes, yes, we know this. But I posed an ethical question about investments generally. Do you have a pension? Do you invest in tracker funds? How do you feel about these can you have ethical investments, or is that a misnomer?

I imagine your response may be something like:

"Yes, but house prices were pushed up by landlords through lax lending, which meant that hard working families were squeezed out."

Jimmy_31 wrote: »

Landlords dont get into the BTL game to provide a good service to a happy tenant, they do it for one reason and thats the PROFIT.

Of course they do it for profit, it's a business. Not point having a business that doesn't make a profit. When I was a landlord my primary purpose was making a profit, otherwise it's pointless. But then how do you ensure a profit? The first step is the maths, which is the easy bit. The second, and more important part, is making sure that your tenant has a fantastic experience. My business was essentially providing a service to someone, so I wanted to make that service as fantastic as I practically could to ensure my tenant was as happy as they could be and thus ensure that I continued to make a healthy profit. My tenants happiness was completely linked to my profit, so I have a vested interest in making sure they were happy.

And I can't speak for all landlords, but I felt a sense of responsibility for my tenant. I couldn't live with myself thinking that I was providing a substandard service to someone, which I think is true of most decent business owners.

silvercar

18-25

Jimmy_31 wrote: »

Its quite simple really, BTL helped push up house prices and the houses that the landlords bought are now not available to somebody who wants to put a roof over their head.

Landlords dont get into the BTL game to provide a good service to a happy tenant, they do it for one reason and thats the PROFIT.

I'm puzzled, I thought renting a property made it your home?

Increasing the amount of rental properties is a good thing for tenants. Or is it only aspiring home owners who are entitled to have a decent roof over their heads?

Jimmy_31

Cleaver wrote: »

Yes, yes, we know this. But I posed an ethical question about investments generally. Do you have a pension? Do you invest in tracker funds? How do you feel about these can you have ethical investments, or is that a misnomer?

I imagine your response may be something like:

"Yes, but house prices were pushed up by landlords through lax lending, which meant that hard working families were squeezed out."



Of course they do it for profit, it's a business. Not point having a business that doesn't make a profit. When I was a landlord my primary purpose was making a profit, otherwise it's pointless. But then how do you ensure a profit? The first step is the maths, which is the easy bit. The second, and more important part, is making sure that your tenant has a fantastic experience. My business was essentially providing a service to someone, so I wanted to make that service as fantastic as I practically could to ensure my tenant was as happy as they could be and thus ensure that I continued to make a healthy profit. My tenants happiness was completely linked to my profit, so I have a vested interest in making sure they were happy.

And I can't speak for all landlords, but I felt a sense of responsibility for my tenant. I couldn't live with myself thinking that I was providing a substandard service to someone, which I think is true of most decent business owners.

There is no point saying yes yes we know this and then trying to make me look just the same as a BTL landlord for putting my house deposit in a savings account.

There is nothing i can do to stop the banks pi55ing about with the money savers entrust to them, but a landlord can choose not to make a living off other peoples backs.

Did your tenant really have a fantastic experience paying off your house:rotfl::rotfl::rotfl::rotfl:

How did you manage to justify in your head the fact that the HOME you purchased to make a PROFIT from had now been taken from somebody who wanted to buy it to live in it.

Jimmy_31

silvercar wrote: »

I'm puzzled, I thought renting a property made it your home?

Increasing the amount of rental properties is a good thing for tenants. Or is it only aspiring home owners who are entitled to have a decent roof over their heads?

Yes for 6 months it is your home, well sort of.