Few Months In A Van?

fatbelly

I'm not clear on why you want to sell this house in order to buy another one? Is it so you can raise 5k for a van?

That's the weak point of your plan I think as 2 lots of costs would probably exceed 5k, plus you're selling/buying on an increasing market, so that's a very expensive way of doing things.

Better to use your present place to produce income and either save the 5k or raise it with a low interest loan.

If Graham's idea of living in a shed is viable, try googling 'log cabins'!

enthusiasticsaver

I missed the bit about you selling your present home and buying another and am not sure why you would do that rather than rent out your current home? The selling and buying costs alone could be more than £5k with stamp duty, solicitors costs, estate agents fees etc etc. A much better way of raising income is to get  a better paid job surely?  Why only £600 per month? What is this passive income?  Investments? 

kimwp

Is a yield of £600pcm realistic from a rental property? You talk about maximising income, but don't mention working more. If you got your truckers license, you could work all the hours allowed, staying in the truck and maybe combine property guardianship and staying with family for when not on the road.

I do wonder at your preference to poo in your bedroom/living room/kitchen over sharing a bathroom with a lodger....

RAS

You'll pay income tax on the £600 pm and have to pay up front for a mass of electrical/gas tests etc, if in England, register as well if in Wales or Scotland. Then have a stash in case you have to replace the boiler etc. Plus voids etc

You don't pay tax on income from lodgers if it's under £7,500 pa. 

Brie

Instead of a van why not get yourself a bedsit or stupidly small flat close to your job and rent the house.  You say you only use 1 room so if you downsize where you are living but make it someplace less van like you may be more comfortable.   Maybe do this just for the winter while you hunt out a reasonable van and kit it out and take a nice long holiday in it next spring/summer.

TripleH

What type of van are you thinking?

These can be quite expensive to buy.

From experience, we travelled round Oz in a campervan, at the start in Spring (Australian) it was freezing at night, there was condensation etc. In this country you'd need a proper insulated van or I think you might find it uncomfortable.

As suggested there is the issue of where you'd park, insurance etc.

It is possible to live in one here it just might not be as cheap as you might think. Moving and buying a house better suited to generate income might be more worthwhile.

Good luck with what you choose.