sarahevie's single quest to mortgage freedom

beanielou

Is it worth the stress? 

Do you think things will settle down once you have tenants? 

sarahevie1

Hi beanie! Not sure, time will tell I suppose. Ultimately once the mortgage is gone I'll be able to retire and my plan is to relocate there and live in it; so there's an end goal.

My parents own one on the same street and have had no issues since they purchased theirs so that was another factor. 

As ever I'm not always right, but I keep on going! God loves a tryer! One of our local colloquialisms. 

South_coast

And look where your keeping on going has got you! A MF family home, BTL's and working towards retirement at 46! Seriously, you're doing amazingly, and you're setting such a good example for your girls. Keep on keeping on going ❤ 

sarahevie1

South_coast said:

And look where your keeping on going has got you! A MF family home, BTL's and working towards retirement at 46! Seriously, you're doing amazingly, and you're setting such a good example for your girls. Keep on keeping on going ❤ 

Thank you! However, it hasn't always been straightforward and I'm still not at the relaxed point I hoped to be! I'm starting to think it's a personality thing though and I'll always worry. I look at my sister and think why can't you just be happy, you've got it all, but I know she's too perfectionist so it's never enough! I'm similar but not in a material things way but I always think I should be doing more.

 Have ordered and carpets for the BTL £700. Think the BTL costs to get it let will be around £2000, slightly under the £2500 I thought. 

beanielou

So when are you hoping to have the BTL ready for let?

sarahevie1

I've got the carpets being fitted on the 21st July so hopefully after that. I have a tenant undergoing referencing currently and a 17 other applicants so if the first fails there's further options. 

beanielou

Not too long then.

sarahevie1

Lodger has gone (moved in July 2019 so practically a year). Won't be getting another as never wanted a lodger in the first place it was just a friend that needed a place. House guest also back at work so enjoying our own space again!

sarahevie1

Potential tenant has passed referencing and she's still really keen so all good. If you could still buy rent guarantee insurance I would be able to for her; however due to the changes to eviction processes during covid 19 the products aren't available. The decorators have done a grand job and upstairs is finished!

I've had some quotes for home improvements at home. Largely fascias and soffits need replacing. Where I've removed the rotten decking that the previous owners had a hot tup on it needs re landscaping. Also I *need* a downstairs toilet/utility and it's not often I say that. I've also got a quote to finish painting the final two bedrooms that I never seem to get round too. All savings are going on this £8200. I believe it will be money well spent.

I've talked myself into it as browsing rightmove and all the four bedroom houses in my village are priced at least £70,000 more than I paid for mine.  I'm not bothered by house prices as have no intention of moving anytime soon. I've just put up with no luxuries for years and I'd like a finished house. Was debating having my nails done (as I've never had them done anytime and I am 35, but that was a step too far. Bottle of rimmel polish it is. Was even debating a trip to the hairdressers as I last went aged 19 but I'm fine with doing it myself.)

sarahevie1

New tenant moves in 30th July. New carpets fitted yesterday. House looks really nice. 

I'm down to less than £90 in my current account so hope it goes smoothly from now on.