want to get out of parents

tiger135

I have also realised my budget has a limit, although i could afford up to 275/280 i feel a lot more comfortable buying at 250 and keeping 20k aside, takes the pressure off. 
especially when i want to work less hours in my current job and possibly re train, which could cost 6k via a course. also a car could cost 4-5k if i upgrade. 

MFWannabe

Sounds very sensible and that you have given it a lot of thought 👍

[Deleted User]

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

annabanana82 said:

Sarah1Mitty2 said:

A couple of my savings accounts have been in touch to say they are bumping their rates again, anyone living with parents at the moment and earning should be raking it in?

I have a mortgage and I'm also benefitting from the increases in rates too, we aren't all on the breadline you know!

Yes, but the point was about someone with no mortgage, they would be benefiting more.

They may benefit more in the short term but in the mid to long term they'll probably be much worse off when they eventually buy with a mortgage that will inevitably be at a much higher rate than someone like your mate who could have fixed at a record low rate last year.

That doesn`t make sense, mortgage rates going higher means prices going lower

That's just wishful thinking on your part. I reckon house prices will be the same or higher in a year or so while mortgage rates will be much higher than they were a year ago.

Or do you think we will be returning to record low mortgage rates in a year or two?

 Looks like the OP isn`t going to return so the thread is basically finished, for what it`s worth I agree with this.....

https://www.lbc.co.uk/news/low-interest-rates-anomaly-martin-lewis/

We are returning to normal, which is a medium to high cost to borrow money and much lower house prices.

It may be an anomaly, but it was the only way a lot of FTBs could get property. So either they go back down, the government helps (ha!), prices fall a lot, or even fewer people can get on the ladder.

chilswelluk

MattMattMattUK said:

tiger135 said:

thanks i was wondering about lodging elsewhere but feel a sense of guilt that they might think id rather live with strangers than them. its only because im getting interest on my savings and could double that if i fixed for a year or two. 

To put it bluntly no one is going to want to date someone 40+ who is living with their parents so that is going to have further impact on your life

What a patronizing thing to say.  The op was not asking for dating advice. As far as we know the OP may have no interest in dating now or in the future.

gwynlas

I know someone who compromised by setting up both bedroom and living room as bedsits and temporarily had a lodger sharing kitchen and bathroom. Obviously this would meam seeking a flat with suitable floor plan and living minimally with not much stuff.

Niv

Sarah1Mitty2 said:

Niv said:

Sarah1Mitty2 said:

Niv said:

Sarah1Mitty2 said:

Niv said:

_Penny_Dreadful said:

Niv said:

_Penny_Dreadful said:

tiger135 said:

lodging isnt ruled out but can you sometimes get a en suite so not sharing a bathroom? 
would spare room and airbnb be worth a search? 

Airbnb is for short term (28 days and under) stays so there's no point looking there.  Why not look at spareroom and see if there is anyone looking for a lodger or a house mate who is offering a room with an en-suite?

My bolding - This is not true. It may be Penny's opinion that staying longer isn't value for money perhaps but you can stay longer than 28 days in an airbnb - I have had a couple of people stay for around 6 months and numerous over one month. 
If you do choose to look on Airbnb though I would suggest you message the host and see if there is any deal to be had for you staying for a number of months.

Then, if your property is in England, once you are offering stays of over 28 days you are in the realm of offering the Airbnb guest an Assured Shorthold Tenancy which means you need to comply with all the legislation required of an AST.  There can also be further, local, restrictions on the maximum number of nights you let a property on an Airbnb basis, for example in Greater London you are limited to a total of 90 days per calendar year as per the Deregulation Act 2015.

In the OP's case the Airbnb would be her only or main home so once you get into renting it for months she will definitely have an AST regardless of what the Airbnb host may think.

I didn't disagree with any of those points. I only disagreed with the point that Airbnb is for max 28days so no point looking there.

The original point was to spend a couple of nights away from parents, Travelodge was a cheap option, because some posters don`t like the idea of someone being thousands of pounds a year better off living at home over having a mortgage debt this seems to have turned into the idea that someone could live in a Travelodge long term, it has been done but not recommended probably, hopefully a poster in their 40`s realises that they won`t get much advice on a forum that they don`t already know, and there is also going to be a lot of silly noise that they need to filter out. I spoke to someone recently who is saving an extra 1k a month living at home, and they are so glad they didn`t buy the overpriced flat they looked at last year now they see what is happening with rates, AND they get to spend quality time with a parent who is getting on in years, what is not to like really?

I didn't really want to get too involved in the opinion side of this as its up to individuals if they want to live with parents, rent or buy - so the ideas thrown out by a numerous people can all add to the mix for the OP to consider. I really only wanted to clarify that AirBnB can be used as a way to find lodgers / longer term stays and isn't restricted to business / holiday short stays etc. and didn't want readers of this thread to think that it wasn't worth bothering to even look at that site if they were looking for something over 28 days as they could potentially miss out on a solution for their housing need. 

The OP can afford to leave parents easily, they could buy a flat for 170k in many areas, I just think they will save money by waiting and get an even better property. Your point about AirBnB is interesting and will be helpful to people wanting to go this route, I wasn`t sure on the rules surrounding AirBnB, I thought you had to register as either private rental or short stay landlord?

You do neither, you register as a host. You then set up your profile for the place you are making available and can set a whole range of settings including stay length - you can set minimum stay, maximum stay and you can leave max stay uncapped.

Wouldn`t a private rental be cheaper for someone wishing to stay long term, or do you offer them a deal? I thought the point of AirBnB was to rip off Hen and Stag party types who believe that overrated cities are "World beating party towns"?

You offer them a deal and or there are discounts built in for longer stayers. Also, which I think a lot of people 'forget' when comparing, is with airbnb you are not paying council tax, gas, electric, water, and in the case of my place broadband, breakfast, cleaning products, washing powder & loo roll, so overall there is less of a difference. I haven't compared by lodger type offering to the local market, but if it were that bad I am sure I wouldn't of had someone stay 5 months in the past. 

Sarah1Mitty2

Niv said:

Sarah1Mitty2 said:

Niv said:

Sarah1Mitty2 said:

Niv said:

Sarah1Mitty2 said:

Niv said:

_Penny_Dreadful said:

Niv said:

_Penny_Dreadful said:

tiger135 said:

lodging isnt ruled out but can you sometimes get a en suite so not sharing a bathroom? 
would spare room and airbnb be worth a search? 

Airbnb is for short term (28 days and under) stays so there's no point looking there.  Why not look at spareroom and see if there is anyone looking for a lodger or a house mate who is offering a room with an en-suite?

My bolding - This is not true. It may be Penny's opinion that staying longer isn't value for money perhaps but you can stay longer than 28 days in an airbnb - I have had a couple of people stay for around 6 months and numerous over one month. 
If you do choose to look on Airbnb though I would suggest you message the host and see if there is any deal to be had for you staying for a number of months.

Then, if your property is in England, once you are offering stays of over 28 days you are in the realm of offering the Airbnb guest an Assured Shorthold Tenancy which means you need to comply with all the legislation required of an AST.  There can also be further, local, restrictions on the maximum number of nights you let a property on an Airbnb basis, for example in Greater London you are limited to a total of 90 days per calendar year as per the Deregulation Act 2015.

In the OP's case the Airbnb would be her only or main home so once you get into renting it for months she will definitely have an AST regardless of what the Airbnb host may think.

I didn't disagree with any of those points. I only disagreed with the point that Airbnb is for max 28days so no point looking there.

The original point was to spend a couple of nights away from parents, Travelodge was a cheap option, because some posters don`t like the idea of someone being thousands of pounds a year better off living at home over having a mortgage debt this seems to have turned into the idea that someone could live in a Travelodge long term, it has been done but not recommended probably, hopefully a poster in their 40`s realises that they won`t get much advice on a forum that they don`t already know, and there is also going to be a lot of silly noise that they need to filter out. I spoke to someone recently who is saving an extra 1k a month living at home, and they are so glad they didn`t buy the overpriced flat they looked at last year now they see what is happening with rates, AND they get to spend quality time with a parent who is getting on in years, what is not to like really?

I didn't really want to get too involved in the opinion side of this as its up to individuals if they want to live with parents, rent or buy - so the ideas thrown out by a numerous people can all add to the mix for the OP to consider. I really only wanted to clarify that AirBnB can be used as a way to find lodgers / longer term stays and isn't restricted to business / holiday short stays etc. and didn't want readers of this thread to think that it wasn't worth bothering to even look at that site if they were looking for something over 28 days as they could potentially miss out on a solution for their housing need. 

The OP can afford to leave parents easily, they could buy a flat for 170k in many areas, I just think they will save money by waiting and get an even better property. Your point about AirBnB is interesting and will be helpful to people wanting to go this route, I wasn`t sure on the rules surrounding AirBnB, I thought you had to register as either private rental or short stay landlord?

You do neither, you register as a host. You then set up your profile for the place you are making available and can set a whole range of settings including stay length - you can set minimum stay, maximum stay and you can leave max stay uncapped.

Wouldn`t a private rental be cheaper for someone wishing to stay long term, or do you offer them a deal? I thought the point of AirBnB was to rip off Hen and Stag party types who believe that overrated cities are "World beating party towns"?

You offer them a deal and or there are discounts built in for longer stayers. Also, which I think a lot of people 'forget' when comparing, is with airbnb you are not paying council tax, gas, electric, water, and in the case of my place broadband, breakfast, cleaning products, washing powder & loo roll, so overall there is less of a difference. I haven't compared by lodger type offering to the local market, but if it were that bad I am sure I wouldn't of had someone stay 5 months in the past. 

Ok, makes sense, so you could basically live full time in different parts of the world/country between two or three AirBnb`s?

tiger135

its appealing for a single person who can just travel with a bag.
as another said, the cost includes nearly everything, if you do an a.s.t the rent is only half of it.
the rental market is so bad at the moment, i filled out a long form and did a credit report to prove to the agent i am ok financially and still i never heard back from them about a small flat.

tiger135

should i feel any guilt by considering living with someone else in a spare room , rather than staying at parents?

silvercar

tiger135 said:

should i feel any guilt by considering living with someone else in a spare room , rather than staying at parents?

No. The dynamics are totally different.