Am I doing the right thing?

virgo84

I've just read all the replies since last night and I'm really appreciative of your efforts to see what other options there are for me.

I'm out of the house from 7:30 to 6pm Monday to Friday and really don't want to take on anymore work as i'm tired enough working what I am now. For me I do not want years and years of this life I am living at the moment. I can see that it is rewarding at the end but I will have wasted years of my life by not actually being able to participate in it. I haven't even had my hair cut for a year as I've not been able to afford it. I haven't been able to buy birthday present or Christmas presents for family and friends. I'm not a big spender but I literally have nothing spare.

Yes it's nice owning my own house but it's also a millstone round my neck. After seeing how quickly life can end I realize life is more than just owning a property it is about experiences. Although I'm sure being creative you can create experiences with very little money I also want to travel the world which is impossible when you don't even have £1 in your purse.

I will not get myself in this position again as this has been such a huge learning experience that I never want to repeat. Sleeping on the floor for 6 months and eating crumbs definitely teaches you a lot.

Giraffeseeker

Virgo, even with the cats I think your food bill is high. I feed myself, my two teenage boys (with me 4-5 nights a week), my boyfriend (two or 3 nights a week) and my dog, and I spend around £270 per month. That includes packed lunches for one child, decent dog food which I order online, and coffee pods for my tassimo machine (I use a lot of these!). I know it's actually harder feeding one person economically, but it can be done. Where do you shop? Aldi cut £100pcm off my food budget easily.

in_need_of_direction

I'd just go with the up the income suggestions otherwise your cats may pose a major problem re renting

honeybean

I feel for you and in your situation as I was once in it as well. But I do get the impression you have made up your mind to sell and all the advice you are being given you are making excuses not to do it. Will you really be any better off renting?? I pay what you do in mortgage and even when I was renting I still struggled and ended up going to the cab. I feel your decision is knee gerk and you are not looking at a bigger picture. How do you know you will get a rental property it is a cut throat process now as more people are renting.

StrawberryJam132

honeybean wrote: »

I feel for you and in your situation as I was once in it as well. But I do get the impression you have made up your mind to sell and all the advice you are being given you are making excuses not to do it. Will you really be any better off renting?? I pay what you do in mortgage and even when I was renting I still struggled and needed up going to the cab. I feel your decision is knee geek and you are not looking at a bigger picture. How do you know you will get a rental property it is a cut throat process now as more people are renting.

What honeybean said is very true.

You seem to have made your mind up about selling, and only you know what's best for you. All we can do is show you a clear perspective on the facts. You seem very down about the whole situation. Just remember, no matter how bad it gets, it can only go up from here Stay positive.

Keep us updated. I'd like to know how it goes for you. Start a debt-free diary maybe? It will keep you motivated.

SJ X

loveka

I think you have made your mind up, but I really think you should

Look at getting a new fixed rate on your mortgage

Contact Step change, Pay plan or CAB and look into a DMP. At least discuss it with them. You haven't really said why not having a bad credit rating is so important? If you were to get a 5 year fix on the mortgage before you start a DMP then you would not need any more credit. You can self manage a dmp- just contact them and explain your circumstances.

You can go travelling. Rent the house out while you are gone and when you get back you will have an asset and somewhere to live. Who knows, you may make a profit on the rent.

I think owning your own home gives you choices, it needn't be a millstone. It's the debts that are the millstone. Renting is expensive for no return and you run the risk of your home being sold by the landlord.

You have a house with equity in it at a young age! Don't throw it away just to keep a clean credit rating.

Scritti

Hi virgo84.

Just wanted to say a massive Good Luck whatever you decide to do.

I was in your situation many years ago. Didn't own a house but was completely broke and getting further and further into debt as each month went on. It was heartbreaking reading your original post. I really hope you get a permanent job soon. Things WILL get better for you, I promise.

Do you make sure that you always get the best deals on your supermarket shopping? I understand what you say when you wrote about feeding those cats, that's such a sweet thing to do. Please don't go without food yourself though!

I know it's only a minor help but - if you don't already - try to shop at Aldi as much as you can. They sell lots of stuff that is near-identical to the branded stuff in the main supermarkets but a lot cheaper.

Also, use the MySupermarket website and look for genuine special offers on the "savvy buys" section. You don't have to order online through them, it's just a way of seeing the best offers available. I always plan my shopping list this way - get the best offers available and get the rest from Aldi - and it's got my monthly grocery spend right down. There are always great offers on cat food tins and pouches, you just need to know which shop to go to on any given week.

Please do let us know what you decide to do and keep us posted. There are so many lovely people that use this site - a lot of them have gone through the wringer and come out the other side and have lots of helpful advice - so please keep reading and posting.

Whatever you decide to do, I really wish you well and hope that things start getting better for you soon. Hang in there!!

too_much_debt

Can you rent your house out instead of selling? Not sure if you could move in with your parents for a while until you can pay the debt off.

[Deleted User]

Totally agree as a renter with #25.
Though I am also a vote against renting out home to make a profit

I'm sorry OP really needs to think about what will happen when a landlord doesn't accept pet/s or finds themselves living in a less luxurious pad simply because of pet situation which can effect mental state far more then not eating - landlords hate pets! - something when you own your own home you never have to fear

Rent rises can happen - I've been staving of my landlord for around the past year with no option but to (only plus side is the job doesn't pay to accommodate such rise and my landlord only rents out to fund hobbies it is not a mortgaged home to them so never likely to want it back and could accept someone with debt problems on mass as I was when I moved in) and I came with all my own furniture - I certainly didn't like the old fashioned kitchen, carpets, curtain and lampshades provided! previous to that I had to rehome my cat when I had to find a 'new cheaper home' which came without the garden etc, please don't ever think giving up pet is easy in the same way renting is easy option - you never save to buy when renting

Please think about this, while you have options and ultimately more rights then a tenant ever will have, I can't say the well paying job will come along, you just have to make the hand your dealt with as best you can ie. could be paid all the money in the world to solve problems doesn't always mean it makes you happiest xx

virgo84

Hi everyone,

I know I sound like i've made my mind up about selling. I'm very down at the moment about it all. I've gone over so many different scenarios in my head about the best way forward as i'm sure many of you have.

I've had my head buried in the sand for the last year trying to say to myself that everything will work out for the best but it hasn't yet. Praying for a miracle only gets you so far.

I know things like a lodger, 2nd job can help a bit but my personality really does mean these are not options. It's not an excuse but if you knew me you'd know that they aren't options for me. You'd want to move out after a week and a 2nd job would drive me to a breakdown.

I'm currently in a fixed rate deal that has 4 years left. It's over 5% as I have a high LTV. Remortgaging isn't an option because of this. So lowering my mortgage payments isn't possible.

I'm going to think things over for the next 2 months as I wasn't going to put my house up until the end of May.

I don't mean to sound negative to your suggestions it's just at the moment I feel like I have no options

Thanks again for replying it really does make me feel less alone. xx