Quit everything , and start again over 50?

another_casualty

Thanks Scott.:)

Well, I spoke to my friend in Poole . He just said, it's pointless renting.
Told me to more or less buy any of the places I've showed him. He says
The amount of stuff I have, will not fit into a one bedroom.

He also says , watch out for service charges. Average I've found , to be around £1200 p.a then there's ground rent.
I don't think you pay ground rent if you have freehold / share of freehold.

Got an email from my solicicitor yesterday, with a few attachments I have to fill in .

Seems odd really , that after all the gripes I've been mentioning
( and wearing all and sundry out ), everything is now coming at me and I am scared.
When in reality, I won't be seeing my friend that much at all , I do wonder if I should move somewhere different.
I have choices . Maybe I'm overthinking again.

another_casualty

Had a great accupuncture session this morning:)
Lady said , everything very good and no stress in my body at all.
How unusual

dreaming

Hi AC - I have been reading along and following your journey. I just want to say that it is perfectly normal to be a bit scared when dreams suddenly have the possibility of becoming real, and being a bit of an over-thinker myself (just ask my kids) know how easy it can be to tie yourself in knots and end up doing nothing. I have learned a variety of ways to manage over-thinking and am a big believer in pros and cons lists. I am also wary of listening to friends too much (unless you really trust them to be honest) as some people project their own fears/dreams onto you, or just say what they think you want to hear. Learn to trust yourself and your own instincts. Think about whether you would regret it more if you don't do something than if you do. Be honest with yourself (but not too harsh). Finally, remember there very few completely "right" or "wrong" decisions in life - sometimes we just have to work a bit harder to make them "right".
I wish you well and will continue to follow with interest.

lessonlearned

AC. One more time.

And in best my fake accent ..."I vill say zis only once".

It is not your friend who is doing the moving, it is you. What he would do is irrelevant, he is not in your shoes. He already lives in the area, and therefore isnt Making a life changing decision. You are.

You need to get this right. This is why you need to rent. You need to make sure that Poole is for you. Goimg on holiday or for weekend breaks to visit your friends is not the same as living somewhere full time. You need to spend one winter there before you commit.

If you make the wrong decision and buy in haste it could cost you tens of thousands or, worse still, you could be stuck somewhere you dislike and where you are unhappy.

£5k invested in 6 months rent is arguably just about the best financial investment you will ever make. It could save you from making a catastrophic mistake and could also turn out to be a money spinner, by making you a more attractive unencumbered buyer.

As an aside I wasnt the only person interested in my new house. I only got my less than asking price offer accepted because of my strong unencumbered position. The vendor realised I was the "bird in the hand" so sold to me. The money I saved will buy me my next car, cash, no loan.That's not to be sniffed at.

AC. Of course you are scared, you are taking a life changing step into the unknown. The decisions you are making are crucial but my honest opinion is that if you were to buy a property in a new untried area without renting first and getting to know the place you would be taking a huge and unnecessary risk.

I am speaking to you as both someone who has been dragged up and down the country because of my husband's job moves and also as someone who has 30 years experience in the housing market.

Don't rush to buy.

Don't try to run before you can walk.

You need to stay focussed on your end goal and take small logical steps to achieving it. Stop getting sidetracked. Keep your eyes on the prize. Stop flitting around like a butterfly.

As for having too much stuff to fit Into a one bedroom flat. Your friend is talking tosh. If you have too much stuff - get rid of it. Keep the best and get rid of the rest. Be ruthless. It's just baggage from a past life.

Remember your Feung Shuey teachings. You have to get rid of the old to make way for the new to enter your life

Not wishing to be rude but I bet if you took a long hard objective look at your possessions you would see that a lot of it is old, shabby, dated etc.

Why pay extra to move it and have to rent a larger flat than is strictly necessary just to store a load of old "stuff". Save your money. Get rid of it now rather than later, take just what you need or really cherish and then treat yourself to new household stuff when you buy your forever home.

We are only talking six months, just how much"stuff" do think you are going to need in that time.

Karonher

Just to follow on from LL's comment - could you store things that you don't get into a 1 bedroom flat? I don't know about Poole but in Liverpool, a small unit can be about £9 a week.

After 6 months decide a) if you are happy with a 1 bed flat, then get rid of them or b) look to buy a 2 bed and put them in that.

I sympathise because I am a hoarder - not to the degree you see on TV where it is old papers and plastic bags, but books, clothes and things other people have bought me.

lessonlearned

I think short term storage is an excellent idea - you often get a couple of months at reduced rates as a sweetener. I just thought AC would shy away from the idea because he is very cautious about paying out money "upfront" ifyswim.

AC I think this is why you are so concerned about spending money on rent. You see it as "dead money"

Ordinarily and in the long term I would agree. Both long term rental and storage costs can be seen as a waste of money - if it goes on for too long it can eat Into your capital.

However, if you can think of it as a "business expenditure" ie upfront setting up costs which you then recoup further down the line then you will see that any money spent on rent and storage could be a good investment strategy.

I run my personal finances the way I ran my businesses, I keep a close eye on cash flow (my dad taught me cash is king - very valuable life lesson) but I'm not afraid to borrow - as long as the terms are favourable.

I also believe in the old adage "you have to speculate to accumulate" although you do need to minimise risk when speculating.

Whilst I regard long term renting as a long term waste of money I do think that short term renting is a form of speculation which can pay handsome dividends.

harz99

AC, I'm not going over the ground that LL has covered as she has perfectly explained why you should consider renting short term. However I'm glad you have come to see that being close to your friends may not be a high priority, like I said previously, if you expand your searches into the Bournemouth area you open up a lot more property at lower prices, and you still have excellent bus services to Poole and elsewhere. Good luck with your searches.

another_casualty

Thanks again everyone .
Ok, I looked at my saved searches on right move.
I sent 3 emails to 3 estate agents regarding ones that I like.

I have arranged a viewing for 1pm on Thursday provisionally for purbeck heights . Yes LL- that one !:)
I also asked him to send me info he may have, on other suitable properties.
I'm aiming to view a few properties on Thursday .
Waiting from response from other 2 estate agents. In theory I will be looking at a few properties .
I will be coming back the same day. Just gonna have a look around.

I'll probably / hopefully get a feel of the area on that day .

wendym

So perseverance paid off, lessonlearned. I confess to a completely unreasonable smidge of envy. When we bought this house we had buyers we could not lose, and when our vendors decided not to move it was not so much the last minute as the last millisecond. We had to find a house fast, ticking minimal boxes (school catchment area etc). It's a perfectly nice house in a nice area but has never felt 'the one'. And I should, and do, count my blessings.

AC - do you think there's a bit of your brain still hanging on to the imaginary financial cushion your original selling price might have provided? Perhaps that is adding to your confusion/worry?

And would a second bedroom just act as a large cupboard?

lessonlearned

"Perseverance pays off".

That's my mantra in life.

I had it drilled into me on all those sales training courses and seminars......:rotfl:

Whilst my eldest son has never attended a sales seminar in his life I think he learned that one at my knee. He never gives up. He overcame severe asthma to become quite the sportsman and is now a complete sports nut and adrenaline junkie.

Who would have thought my tiny sickly ailing baby who nesrly died a couple of times and who was and out of hospital and who needed machines to help him breathe would go on to climb mountains, scuba dive and do all manner of extreme sports and "man stuff"

Willpower and perseverance can conquor mountains. They can also help you find your perfect "nest" :rotfl: