Quit everything , and start again over 50?

another_casualty

Thanks determined
TBH , I don't think that would be for me. A couple of my friends did this way back. Stuff stolen, people not taking turns in cleaning etc.
Put me off .Good way to make friends potentially , but I don't think it's me

Smodlet

Well done again, AC, I am so proud of you. I am also a little concerned you might be inclined to confuse what you are looking for in a purchase with what you want from a rental... If you can find somewhere you love that you can afford and want to buy, having decided you like the area you are in enough to stay there, well, why not? If you are definitely going to rent for six months (does it really take that long to get to know an area?) then you need to make every penny count if you are not to see your dream home disappear forever. Please, please don't blow this now.

Sorry, determined, but there speaks someone who has never lived in a shared house. They are not usually a Liver Birds situation, with all the residents becoming BFF's in the first five minutes. I would loathe having to share again and the last time I did, I was a student (stegosaurus were still an endangered species) I suspect AC would feel the same; sharing with his own brother drove him nuts, though his brother does sound as if he would have the same effect on most people... sorry, AC.

Willowpop

Just a thought AC, the place you're in now. ..is it more expensive than a flat? Could you stay there for a few month whilst you buy.
As mentioned above, you probably don't need 6 months to decide if you like an area or not.
I'm not sure how much your current place costs or if you have cooking facilities etc, but if it's a self contained place would it be cost effective to stay there?

Smodlet

AC does seem to be in love with it, Willowpop, which may be influencing his opinions of the other places he has viewed. While I completely agree panic buying is a bad idea, I cannot get behind the renting for six months scenario, myself. It seems like a waste of money to me though I bow to the wiser heads on the thread.

lessonlearned

There is no way on this earth I would do a house share unless I was absolutely desperate for a roof over my head. :eek:

I think AC you need to look at all the options, and cost them out.

Timescales.......

If you found your forever house next week I reckon it would take at least around 3 to 4 months for the buying process, assuming no chain.

You can more or less kiss at least 4 weeks goodbye with the run up to Christmas starting the 2nd week in December and then the first week in January is pretty much a write off.

So that 6 months rental contract sounds about right. Just make sure it's 6 months and then monthly thereafter. Don't commit to a further 6 months.

Other than that it's working out which is the most cost efficient way of doing it so you need to drill down into the figures..

When DS2 and I moved into a rental after selling our 4 bed family home we rented an unfurnished three bed with garage which saved on storage costs.

I had decluttered the obvious stuff. I just had to buy a fridge freezer and two bookcases for the rental because Our family home had built in bookcases and kitchen appliances. I took my washing machine and tumble dryer with us.

When we left the rental I gifted the fridge freezer and bookcases to DS1 so the money wasn't wasted, along with the washing machine and tumble dryer because When I kitted out the kitchen here I went for integrated appliances.

It can be quite difficult to plan ahead but the trick is to keep the rental cheap and cheerful and save as much as you can towards your forever home.

Every £100 a month you can shave off your costs means more money towards either nice furniture for your forever home or it can give you more of a cushion and take the immediate pressure off to find the next job.

Saw a bungalow on Friday.......another non starter. There is some dross out there. :rotfl:

lessonlearned

Smodlet wrote: »

AC does seem to be in love with it, Willowpop, which may be influencing his opinions of the other places he has viewed. While I completely agree panic buying is a bad idea, I cannot get behind the renting for six months scenario, myself. It seems like a waste of money to me though I bow to the wiser heads on the thread.

Well I don't know if I am a wiser head.......:rotfl:

But, realistically, given the timescales and distances involved, for AC renting is the better option, especially as He was moving to a new and unknown area.

Better to rent for 6 months and find the right forever house, than panic buy the wrong house and then move again a year later because you have made a colossal mistake.

Unless of course it's a white hot market, which at the moment it isn't.
If you look on RM you can see properties are hanging around for months and prices are pretty stable.

Anyway, it's a done deal.......

Onwards and upwards.

Ds2and I rented for 6 months to the day. During that time we found DS1s house. As soon as we legally completed on that one we all moved into together - even though it was a building site. It was summer so I didn't mind.

Then DS2 remained with DS1 whilst I the rented an unfurnished bungalow in the grounds of my husband's nursing home. It meant I could visit him any time and on good days I could wheel him down to the bungalow and get him out of the nursing home to give him a more "normal" life. I rented that for 6 months.

In the meantime we then found DS2s house and started the renovation works. Once it was habitable DS2 and I moved in.

My husband died two weeks later. Sounds daft but I think it's almost as if he hung on until he knew we were all settled and then he could let go.

So for the last few years I've been a bit of a gypsy........:rotfl:

DS2 and I enjoy living together and of course it has helped him financially. He doesn't earn much but has used my contribution to build up some savings and start a pension.

My husband will be looking down and smiling. His last words were "look after the boys". I feel happy to say I have been able to do this. They both now are buying their own properties and are happily settled. DS1 is now happily married and even DS2 is now dating - (finally:rotfl:)

My work is done.;)

I can now start thinking about myself. I just need to find my forever home now, go travelling and maybe start a little business.

So just like AC I took the bull by the horns and made a fresh start, taking care to see my boys safe and secure.

It is all coming together nicely, As it will for AC.

It's just one step at a time.

Smodlet

Wiser heads. What I said... Ain't that the whole point of a forum?

LL, I know what you mean about your hubby "hanging on until he knew you were settled." My sister's third child seemed to hang on (I think she was two weeks late, maybe three) as our mother was dying and my sister did not want the baby to come in the middle of it all. The obliging, little thing seemed to wait until mother was ashes and dust before putting in her appearance. Imho, she has more about her than both her siblings put together. Your OH was clearly an amazing person, too.

enthusiasticsaver

I would look to keep as much of your capital intact as you can AC until you have bought your forever home and can then set about furnishing it. I would not go for a house share. My elder daughter did that for a while after uni and was living with some right strange people. I think once you have factored in the fact you would pay extra for a 2 bed and your stuff probably won't fit anyway plus the two lots of removal costs you might be better going for a smaller furnished place. There are a few at £750 (even one with access to a free gym). Doing that rather than paying £1k per month will save you £1500 over 6 months. Cost up one extra lot of removal costs plus storage costs for 6 months to see which is cheaper. Forget about visitors. An air bed on the living room floor is good enough for them to stay a few nights.

enthusiasticsaver

Don't forget AC you are not working now so until you find a job you will be on a limited budget. You will still have bills to pay and food to pay for as well as rent so if you end up paying out £1k per month in rent plus £800 say in living costs per month that is £9k gone from your capital in 6 months plus £1k say for deposit. £10k in total.

How much do you tend to spend weekly on food, entertainment?

lessonlearned

I was thinking abou this earlier.......

AC you need to start thinking about a rough budget so you know what's what.

I would advocate also keeping a daily spending diary. Record everything you spend, yes even down to a newspaper or bar of chocolate. It will help you stay on track and keep you focussed.
It Helps stop the leaks. .