Regret buying a house at 28 - what do I do?

[Deleted User]

The possible job in Thailand should be carefully investigated.

I am afraid I would be sceptical until I knew for sure there was something that wouldn't get me into trouble to go to. Thailand is not a good place in which to find yourself on the wrong side of the authorities\law. Its very very different to here. Don't get too carried away with this blissful idea of having adventures/travelling, and making up for things you have 'missed out' on. Establish the facts first, then figure out how.

If you maximised savings, how long would it take to up your LTV? Could you take in a lodger to help?

Cakeguts

steampowered wrote: »

You have, I'm afraid, hit on exactly the reason why early home ownership is a mistake for a lot of people. It can stop you from pursuing economic and social opportunities.

If you would like to spend some time working overseas, and the opportunity makes sense, then I would sell it and do that.

As your job only pays £28k, not a great wage for someone who has been working 7.5 years, you do not have a great deal to lose economically and could gain valuable experience that might help you increase your salary if you decided to come back to the UK.


You have absolutely no idea what you are talking about, on any of the points you commented on. The only thing I would point out is that the unemployment rate in numerous European countries (including Germany and the Netherlands) is lower than it is in the UK.

Talk about the pot calling the kettle black.

https://www.statista.com/statistics/268830/unemployment-rate-in-eu-countries/ There are 6 countries with an unemployment rate lower than the UK. The rest are higher.



Plus in some European countries you will find it very difficult to get a decent job unless you speak the local language. Someone is bound to tell me that this isn't true and that you can get jobs if you only speak English but that is likely not to be the case in practice. I am fairly certain that you can get bar work in most large cities in Europe but that is likely to be because the local population know that you can't earn enough to pay the bills just as is the case in large cities in the UK.

bengalknights

As Pink pirlie stated try and see if virgin will go for CTL best of both worlds that way.

Thrugelmir

pineapplepink wrote: »

My issue is i've been feeling down and depressed since I returned from Belgium/ Amsterdam as I feel so trapped and tied down with my own home and mortgage. I've thought about it a lot and would love nothing more than to see the world by working abroad. I have a friend who offered me work in Thailand where the cost to rent is cheap, and if I didn't have my mortgage I'd have booked a flight out in a heartbeat.

In a few years time these "friends" will be envious of your secure job and home ownership. Partying is all very well. But keep an eye on the long term. The grass isn't always greener.

zagubov

Spend long weekends in Amsterdam. If that's expensive, get a lodger to help pay for it.

Buying a house is one of life's most stressful events ( well in this country, it is). I'd not encourage you selling up if you're moving away for a short while.

nomorekids

Have you asked your current mortgage provider for permission to rent? He had to pay a fee (£100 from memory) for this permission from his mortgage provider but then my son rented his flat out for a year when he had a years contract in Australia and didn't have to remorgage to a buy to let, just kept his residential one. The tenants are still living there as he took a position, since in India and intends to go to Thailand next. The tenants are paying his mortgage for him, and he is making a small profit as well.

zagubov

Be aware that a tenant in your house in the UK may have to file a tax return if you don't sort out the tax situation as an overseas landlord.

Cakeguts

Have a look at this. There is a lot about the rules for people from abroad living in Thailand.

https://www.bbc.co.uk/news/world-asia-49470726

FTBAngst

Thrugelmir wrote: »

In a few years time these "friends" will be envious of your secure job and home ownership. Partying is all very well. But keep an eye on the long term. The grass isn't always greener.

I second this.

Do you know what you might want to do in the future? I understand doing this before you have commitments but what have you considered for the long term?

I used to hold a steady job on approx £45k a year. I used annual and unpaid leave to go in holiday for between 1-3months but it wasn’t the same as working abroad and i didn’t think it was sustainable. So I’ve taken a massive pay cut to re- train and hope in a few years when I get experience and a professional qualification, to be able to work abroad in the future and still have good earning potential. I don’t know if that option is available to you but that’s my take on it.

WobblyDog

pineapplepink wrote: »

Thanks for the response. What were the reasons behind you selling to rent if you don't mind me asking?

I sold-to-rent was due mainly to a wish to relocate and ease the house-buying process, but in retrospect I could have just sold and bought at the same time. I found going from owning to renting became more stressful as I got older. The pattern of ever-rising house prices in the UK makes it a bit risky.