Future Proofing my life: Deposit saving then MFW journey in under 13 years

savingholmes

How lovely on the free food - it all helps. 

What's happening with the side hustle now? You posted some conflicting things on it before Xmas.

Merlin's_Beard

Well done on the free food.

And I'm glad you liked Good Omens! I'm over here eagerly awaiting the second armageddon of the armageddon sandwich

LadyWithAPlan

@Merlin's_Beard Arma - blo*dy-geddon 🤩  - but the Second Coming will obviously have zombies
- yes I can’t wait to see S3 and the us v them (heaven and hell) but I can see tumblr is full of dreams of a South Downs cottage for the 2 despite how S2 ended
i  saw Neil Gaiman had responded to a fan on the Vavoom bit who asked if the humans falling in love was about how Crowley himself had fallen for Azi in the rain under a canopy or was indeed just a Richard Curtis film reference and NG  said ‘did that happen ever in a RC film ‘ which hadn’t (rain yes no canopy) and the fans were all super excited
Lovely to see how the fans and NG himself who is also the show runner (keeps the bible of facts of the characters) are all so invested in the story and the meanings. 

@savingholmes on side hustle apparently I have meetings in person at the end of Jan as work would be mainly April on but dates abroad in March also to be agreed 
I am doing something side hustle related today for a friends birthday so making sure that is as good as possible as it is a shop window - wish me luck ! 

I am booked to see a flat next week - only one bed but a v big garden big enough to extend or build an office -  it also has a dining room which could function as a study - work is v unclear at present but this is at lower end 400k but it’s a short lease 89 years but is a freeholder lives upstairs and around there they say about 7-10 k to extend rather than a monthly crazy amount 
it’s a weird lay out - looks like front door might go into lounge directly (with fireplace) in front then thru a galley kitchen into dining room into a small hall with a cellar (scary)  and a bedroom with large bay full windows you can walk into garden 
near a tube as well 
the dining room could easily double as my study and tech room 
So not something where one could easily rent out second bedroom unless you reconfigured the entire flat .. but given I would only need a mortgage of £270k waiting on invoices .. though I will keep more back on an EF for a safety net .. I could save £500 pm having someone in here but I have lived on my own for years so 

TallGirl

Flat sounds exciting difficult to picture the layout until you see it but big garden and cellar could be very nice and the potential to extent out. I would chose smaller mortgage over ability to rent out a room - no thank you to living with someone else unless you have a much larger place. Good luck with the side hussle you have been talking about it for so long we are all rooting for it to take off soon I am sure!!!

beanielou

I had lodgers for years but would not do it now unless I really needed to. 

I had some dire ones & some fantastic ones. 

In fact the person who introduced me to chanting was one of the best ones! 

savingholmes

I vote for affordability without lodgers. Definitely keep some EF too.

Hope the side hustle event went well 

Merlin's_Beard

LadyWithAPlan said:

@Merlin's_Beard Arma - blo*dy-geddon 🤩  - but the Second Coming will obviously have zombies
- yes I can’t wait to see S3 and the us v them (heaven and hell) but I can see tumblr is full of dreams of a South Downs cottage for the 2 despite how S2 ended
i  saw Neil Gaiman had responded to a fan on the Vavoom bit who asked if the humans falling in love was about how Crowley himself had fallen for Azi in the rain under a canopy or was indeed just a Richard Curtis film reference and NG  said ‘did that happen ever in a RC film ‘ which hadn’t (rain yes no canopy) and the fans were all super excited
Lovely to see how the fans and NG himself who is also the show runner (keeps the bible of facts of the characters) are all so invested in the story and the meanings. 

@savingholmes on side hustle apparently I have meetings in person at the end of Jan as work would be mainly April on but dates abroad in March also to be agreed 
I am doing something side hustle related today for a friends birthday so making sure that is as good as possible as it is a shop window - wish me luck ! 

I am booked to see a flat next week - only one bed but a v big garden big enough to extend or build an office -  it also has a dining room which could function as a study - work is v unclear at present but this is at lower end 400k but it’s a short lease 89 years but is a freeholder lives upstairs and around there they say about 7-10 k to extend rather than a monthly crazy amount 
it’s a weird lay out - looks like front door might go into lounge directly (with fireplace) in front then thru a galley kitchen into dining room into a small hall with a cellar (scary)  and a bedroom with large bay full windows you can walk into garden 
near a tube as well 
the dining room could easily double as my study and tech room 
So not something where one could easily rent out second bedroom unless you reconfigured the entire flat .. but given I would only need a mortgage of £270k waiting on invoices .. though I will keep more back on an EF for a safety net .. I could save £500 pm having someone in here but I have lived on my own for years so 

My favourite story is that when they were making season 1 of Good Omens, they wanted a particular sequence shot a particular way and Amazon told them it was out of budget. Neil and Rob (Wilkins, Terry Pratchett's assistant and now protects his creative interests) decided to release the script book, donate their advances to the production, and essentially shamed Amazon into coughing up their advance, too, until they had the location shoot they wanted. They definitely want it done properly, as a labour of love, the way that Terry and Neil had envisioned it (and the South Downs cottage is a very Terry thing, given it's where he lived, and predates his death and his decline by a long way, so we all know that will be preserved).

I would definitely think twice before making decisions based on planning on having a lodger or second person in to help save money - living alone is very addictive and re-adjusting to another person is very hard! 

skint_spice

I wouldn’t like a lodger but I understand it would help to know you had the option if needed.

Watty1

You have very successfully managed your savings and your business and your life.   If it were me (and actually it is me) I would  plan an emergency fund rather than think about a lodger.  A smaller mortgage and space to be alone would, for me, be priceless.

I have seriously considered looking for a lodger but have concluded it was panic about the lack of money that made me think about it.  I'm giving myself permission to rebuild savings before I even consider it.   The only way my place would be attractive given it is a large rural place in need of renovation is if I let the room and a stable and I'm limited on grazing and I really don't think I would want someone living in my house and on my yard.   The only attractive part is that it might give me a hand on really busy days with the horses but even that is not enough to win me round at this point.   I also think I'm to traumatised to have someone in the house really.  

Sistergold

Oh @LadyWithAPlan, so many considerations with regards to what house/flat to buy? £270k mortgage does not sound so bad and I am so impressed with how much you have saved so as to be in this great position where you will only need such a “small” borrowing. 

Firstly get a place you would love then work out the rest I guess? You have saved so hard consider yourself first? The flat you mentioned seems like a complicated layout BUT it will probably make more sense when you view? For now just viewing might be best and while doing this you might just find a place you buy because you love the location and flat. With the way you have been able to save you might then just overpay a bit to bring the mortgage down to a more comfortable figure for you with or without a lodger. On the issue of lodger you could also just get a lodger and slog on until you bring down your mortgage to a more comfortable figure at which point it’s no longer about money but you choose to live alone? OR just continue saving to have even less mortgage?

 In all this I think it will just be an issue of falling in love and the rest will be whatever! Love is a wonderful thing when it comes to a house especially for us mature people! After being through so much you just need to love the place with or without a lodger. 

It is scary now BUT without sounding like a scratched record as long as you don’t stretch yourself too far it is easier to bring the figure further under control once you secure a place. 

Before you buy house prices seem all over the show. Once you buy you know how much you owe and decide how far you want to bring it down. I like knowing how much I need to pay off to get to mortgage freedom. A very healthy emergency fund like you are planning also takes the stress away. 

Saving for too long for me can begin to seem like an endless battle, it will be like how long will I save? With a house once secured it’s easier to shrink the figures quicker, can overpay, you are also repaying and house price does not go up on you. When saving you are paying rent, house prices could go up and no repayment going on. Ofcause house prices could go down, rent maybe stays low, getting interest on your savings etc? 

Hopefully you will fall in love with a property and this debate can be put to rest for you! 🥳🥰