Debt and Caring

astrocytic_kitten

As you and @Cherryfudge both say, being a landlord can be very stressful and also very expensive (if something major breaks you don’t have a choice but to replace it, even if it’s something you’d have lived with or waited for). A good agent makes it easier but they are few and far between, if your gut is yelling no at you I wouldn’t ignore it.

I’m a big fan of working out budgets (ideally colour coded 😂) for every possible scenario though, good luck!

Sarahwithlove

I agree for me the stress of it would be too much on top of everything else. But I can also see why you don't want it just sat there either. Could you sell as is? Might be worth getting a valuation to see if be worth it. 

WelshmansDaughter

In some ways I'm actually quite happy to leave it empty. I have a valuation which is slightly less than the outstanding mortgage. I don't really want to sell and still have money to pay off on the mortgage. And then have that empty void to fill either.
My other option is to take the time to renovate it according to what I want to go back to. I would need to empty it and get quotes for the work for at least the functional stuff. 
Another project I would like to budget for is a quiet space/studio. Something small like a shed where I can get stuff done in peace.

WelshmansDaughter

Day 5 of living on my budget boxes. I have noticed how many times I've thought about buying something online only to realize I couldn't. 
Using such a small amount has meant it's easier to see how one purchase affects the total. 
Yesterday was the real test as I went back to work. Holy energy hurricane. Child off with his mother to hospital (not serious), child peeing on the floor...
All I could think of was takeaway. 
Ended up spending 1.60 on a can of fizzy orange. Down to 4.55 in the box until Saturday.

savingholmes

I personally would avoid adding to your stress where possible. If you had to pay so much money out for care it sounds like it would be counter-productive. Why is it you that would pay for it?

WelshmansDaughter

Quite honestly it's me picking my battles SH. My mother's attitude to money is long entrenched. She has never budgeted, doesn't really understand the value of things. Like a lot of people she blames things on the dementia and not poor care. So when we have bad but free carers all that matters is that they're free. 

WelshmansDaughter

Have cheated on my pots. For a coffee. 
Used teacups card to have a coffee in the coffeeshop before work 🤦‍♀️ exhausted today though, not because of dad. I just couldn't sleep last night. He slept until 8am!
Been a shock to the system going back to work this week. 

savingholmes

I think most people struggle this time of year. Be kind to yourself.

WelshmansDaughter

It's funny, between yesterday and today I have two shining examples of a difference in my willpower. Yesterday there was no way I wasn't going to get a coffee out. I hadn't slept, I was going to work. 
Today, I got a 20% off code for the course website I'm using and the small print said it could only be used for 48 hours. Briefly considered using it on the course thats next on my list but then said no. 
It's amazing how much difference even a small amount of sleep makes.

Today's plans are to sort out the meals for the week which involves clearing out the cupboard to find all the Tupperware. 
This may not happen as dad is jittery today.

WelshmansDaughter

Part of the trouble I have with managing money (aside from sleep deprivation) is that I never know how to categorize something. The typical way of doing something always has some aspect I can't manage. 
I don't think being a landlord is a viable option this year at least. It's too big a project. 
Selling would probably mean a loss and potentially still have mortgage payments to pay if I can't sell for enough. Will get a valuation in June though. It also means starting from scratch with no money, nowhere to live and no job. At a time of emotional vulnerability. So not the top of the list.
So for this year at least the flat is a holiday home. I'll go over when I can and split my time between holiday and work on the property.
This fits in with what I can afford this year and means I don't go over the top when I do get a break.