Cheapest way to live? Flat/Caravan/House-boat/Van ?

FreshFruit

Sorry if this is the wrong spot, please move if it is.
Hi there, my goal is to live as frugally as possible for 2 to 5 years in order to reinvest all of my income. I am currently a student but finish my course next year, so let's just say im used to living in sub par conditions. Living in a typical house would mean paying £500 rent and probably another £500 in expenses per month, if I could find a way to sustain myself for less than half of that then that'd be great. I plan to set aside around £1000 for 2-5 years (24k-60k)

I was looking at caravans and saw decent ones for £3-4k, I thought great! But it turns out parking a caravan is expensive, probably £8 per night (£240pcm) at the lower end, if this includes electricity and I got some electric cookers then maybe that would be feasible.

Then I remembered tiny homes, wouldn't want to go through the hassle unless I was residing in Wales. But the next best thing is 'Van-life', buying a large-ish van and fitting it with a bed, fridge, cooker and... I assume a toilet. It seems some people use caravan systems and some just say they park near toilets? I'm thinking, if I showered at the gym, had a few meals at families homes and had a basic cooking setup/toilet setup then why not? I could just park it out of the way in random spots, the only expenses would be insurance, petrol and maintenance?

I know some people live in boat houses but something about it really puts me off, I also can't see it being much cheaper than renting a flat?

Slithery

Rent a room in a shared house?

Mine costs £100p/w with all bills included.

FreshFruit

@Slithery

Thanks for the idea, I did considering sharing a property with somebody but this has not gone well for me in the past. I much prefer to live alone and do things on my own terms. Whether or not the disadvantages of the alternatives (i.e. living in a van) outweigh the downsides of shared living is something I will consider.

Edit: Also £100 per week is cheap but it's still £5,200/yr, if I could find somewhere for £2600 a year then that might be enough of a saving for me to justify it to myself

Jox

I don't have experience in this area but there are videos on van life on youtube, maybe have a look and see if there are any based in UK for tips?
Good luck!

Slithery

FreshFruit wrote: »

I much prefer to live alone and do things on my own terms.

Me too. I hardly ever see my housemates and I'm the only person who actually uses the kitchen (except the microwave). It's a large room that has everything I need in it - a lot bigger than a van anyway. It also includes all bills, council tax, electric, gas, broadband, the lot.


Buying and kitting out a van isn't cheap, and you missed gas and electrical hook-up out of your expenses.

hazyjo

Lodger with a homeowner rather than house share?


Why are you so keen to do this now? Surely the point of studying is to learn in order to make money when you finish the course? You will surely need somewhere to work, at a computer or laptop or whatever. Don't underestimate how miserable a caravan might be throughout winter. And do you mean motorhome? Because you'll need another vehicle to tow a caravan. They are also a depreciating asset.

gingercordial

"Van life" seems to mainly be a thing for American Instagrammers as far as I can see, driving around California and Utah and doing yoga poses for the camera. I think the reality of doing it in the UK might be a bit more depressing. I know two people here who have done van conversions for occasional trips but neither would consider living in them full-time.

Where to park is the biggest concern. Legal spots are likely to charge and therefore you might as well be in a caravan. Illegal spots will be well away from the family meals and gym showers you mention wanting to use, and miserable with the threat of the police banging on your windscreen in the middle of the night. I couldn't live being on edge all the time.

But if you fancy some inspiration "Walden on Wheels" by Ken Ilgunas is a really good memoir about living in a van to save money in the USA.

knightstyle

It can be very cheap to live off grid BUT the areas where this is possible are not near where you need to be to earn money to save!
Best to get a job with decent wages and look around that area.
House share is good as you will get internet, heating and cooking for a portion of the cost.

Cisco001

What is your job after graduate?

If I am an employer, I will be reluctant to employ someone without permanent address.

IMO, houseshare/ Lodger is the only sensible option.

parkrunner

Tent......

Hectors_House

I would have thought not having a permenant address (and a landline) for that length of time would destroy your credit rating.

Devils spawn it may be but you can’t get far these days without a credit rating and, as someone above mentioned a lack of address may put employers off.

I know of someone who was made homeless (entirely their own fault believe me) and tried living around the area they had lived in the hopes of being given a second chance. The police move them on constantly. Without paying to park your van in legitimate sites you run the risk of being targeted by the scum in the area too.