From Frugal Foundations to Fortified Family Future

Greying_Pilgrim

Good evening MFW'rs

I hope there is a little space in diary land for me (Greying Pilgrim) to take up residency and chart our journey to mortgage freedom - albeit we're doing it a little back to front.

The short story is, that we did own a home - Greying Towers - but 4 years ago we moved into rental accommodation with the intention of selling the house.  Got mucked about with time-wasters, then c'vid closed everything down so we couldn't sell, then when we finally sold, we couldn't find anything to buy in the location we needed to settle, prices went up, up, up so we couldn't afford anything......... until we finally came across a house for sale in September that was sort of in the right location, was preserved in aspic from when it was built, had enough of the 'must haves', but most importantly was within our price range.  We had tried to get a small mortgage - which would have probably not yielded us a 'significantly better' house, but may have allowed us to move within to our preferred location - but AIP's were thin on the ground, and the day we last applied, was the day that all mortgage products got pulled due to the expected hike, hike, hike of interest rates.

So we bought what we could afford, knowing that we would have to fund a new heating system, new windows/doors, better insulation, some mechanical ventilation (kitchen and bathroom) as a 'starting point' and then in the future, turn our attention to the kitchen units and bathroom, paint, decor, garden...........  We took the decision to change the heating system before we moved in and had extensive plastering done too, whilst the house wasn't occupied. 

We finally moved in and cleared out the rental house.  I am delighted that we received all our deposit back and we also have had a big refund from BG for monies accrued on our dual fuel account.  Thankfully we are with a different energy provider in our new home.  We don't have smart meters here (did in the rental), but want to 'live' here for a while before we commit to having smart meters installed.  BG were awful to us and messed us around for well over a year with billing issues, cutting off the IHD and generally causing stress when energy prices were peaking - we had no real idea of what our bills would be.  Now that we have a modern heating system up and running, and when we have been able to install further energy saving measures, we may well look again at having smart meters installed.   

Which brings me to the purpose of the diary.  Had we been able to afford a house that was 'move-in ready' we would have required a small (by modern standards) mortgage.  We couldn't get one, so had to purchase a 'doer-upper'.  We financed the heating system and several other improvements from money that was saved for my future pension.  It wasn't a big pot anyway, but if we dip into it anymore, there will be nowt left.  So, certainly for replacement double glazing, we will have to save the money - in effect a mortgage 'in reverse'.  So this is what we intend to do.  As prices are rising, and we don't know how much glazing for the whole house will cost, I am going to pick £10k as an arbitrary goal - which of course I hope will 'more than' cover the cost, but is probably realistic, and if there is money left over, well, I'm pretty sure that it can then filter down to fund the NEXT improvement on the extensive list..........

Due to an interminably long notice period, this is the first month that we have not had to meet a rental payment, but with 'costs of moving', we're not yet feeling the full effect of having more control over what our monthly income is spent on.  So timing wise, we're at the planning and water treading stage, but by next pay day, we should be ship-shape and able to construct a future budget that will see us in charge of our destiny, rather than having to make sure we pay a landlord first.......  It feels like a good place to be, moving into 2024, and the motivation to 'work for Team Greying' is high.  The past 4 years have been something of a roller-coaster, the lockdowns took their toll, and reduced income, whilst needing to make a rental payment was no fun - but we never missed a payment either.......  We are a family of 3 - welcoming our child 'later in life'.  Baby Greying has now become Little Greying, goes to school and is generally growing in all directions. The days of being able to secure entire outfits from charity shops has long-since past, and even with modest purchases - children are expensive!  But we try to say 'yes' when we can - particularly to experiences, so that is another reason why it will be so much more satisfying to be in charge of our own household income, and better able to determine where our spending priorities lie. 

Although the kitchen here isn't exactly my 'dream', it's functional, and I have a new fridge freezer and oven, and we have a (inherited) freezer in the garage.  Now that everything is installed and up and running, I can begin to get back to my thrifty ways in the kitchen and hopefully start to maintain a modest grocery budget.  LG has packed lunches for school, so that is a different dynamic to what I am used to, but I think that they have greater variety, and a better selection than the school meal service is now able to provide (due to cuts).  

I think in the time we were renting, we paid well over £30k in rental payments.  Naturally, in return we had a roof over our heads, but it shows that if the money is allocated to a task, then you 'fund' your priorities.  So, I am hopeful that by winter 24/25 we may be somewhere near to having the relevant funds for new glazing.  Living here 'full-time' has already shown us that there is a distinctive temperature difference in different sides of the house, so we need to seriously consider our options in terms of windows, curtains/blinds and insulation. 

So not a traditional 'counting down' mortgage diary, but from our 80% of what we wanted, house, I hope you will join in and support our endeavours to get to 100% of what we wanted - to forge a comfortable, sustainable and secure family future.

You may have spotted, I likes me a bit of alliteration......  and I also (in days of yore over on DFW), like to remind myself that we often have much to be grateful for - even on pants days...... so I generally like to include 3 'grateful fors' in my daily postings.  So today I am grateful for;

- Monetary refunds that didn't get lost in the Christmas post
- DH driving LG to their activity tonight
- Cancelling d/d's - in branch! - to finally close our rental chapter.

Pounds for Panes = £0/£10,000  (gulp!)

Greying X

 

redofromstart

So lovely to see you posting, welcome back to diary land (Redo/hex2)

peb

So pleased you have your own home again.  Lovely to see you posting 

LadyWithAPlan

Shiny new diary how fun. Love the backwards mortgage /diy

Greying_Pilgrim

Good Morning MFW'rs

Thanks so very for the warm welcome - aren't the MFW and DFW forums just the best places for welcoming, kind and supportive folk 😁

peb it sure is nice to have our own home again and be back on the property ladder.  Although stepping off the property ladder was 'sort of' the right thing to do at the time, circumstances outside of our control meant that it quickly spiralled into possibly the daftest decision we ever made....... And whilst buying chain-free has some advantages, and having to sell (in the future) to purchase, certainly will hold some disadvantages, I am glad that we have a home of our own.  

Today is the last day of term (it's been a long 'un 🙄), so the last day to be able to do things without the scrutiny of a little person...... 😉

Yesterday's financial admin has prompted a raft of overnight indignant emails from companies pointing out that our D/D has been cancelled, and can we contact them to re-establish it, as we are no longer eligible for their super-dooper cheapest tariffs ....... 🙄  We left...........  We no longer live at the property on the account..... We were in credit and have received refunds....... You CLOSED our account as a result of us moving out...........🙄

We're in the mid month lull money wise, but I think that I am going to direct the repayment of the 'energy' money to savings to cover our winter months energy use here, so that we have a buffer and don't hesitate to put on the heating when needed - although improving the curtains/linings and loft insulation needs to play its part too.  I think I am going to put a larger proportion of the returned rental deposit into the windows pot, as it was 1.25 x the monthly rental cost - so in effect it has been 'spoken' for, and is wholly ours now (whereas the energy money could still be needed for energy costs if you follow my thinking).  I will need to look at what proportion of the deposit return to put to the windows, and what to put towards loft insulation - we bought a couple of rolls yesterday, and will probably get several more asap.  

Right, best shift a tail feather and get 'school ready'..........

Greying X

Greying_Pilgrim

Well, having DH 'home for the holidays' is paying dividends.  Not that it was our plan for him to have time off now.  It's just that there was much uncertainty from the vendor as to when they would allow us to complete 🙄meaning he didn't book specific time off for moving and in the interim, DH's colleagues had all bagged the remaining time off slots, so DH had to take time off now or lose it 🙁  Anyhoo, today has seen the washing line set up (pole cemented in yesterday), so we're taking advantage of the breeze to get a load and a half (whites) of clothes mostly dried.  Not too sure if the weather for the next few days will be conducive to laundry, so I'm trying to make hay whilst I can.

Then DH took the rolls of insulation up into the loft - and after a 3/4 of an hour search for the newly purchased face masks...... 🙄 - which were located under a pile of DH's 'best' clothes 🙄 - he began installing the rockwool (or whatever it is made of these days).  The good news is that we will probably only have to get another 2 rolls to complete the coverage - taking us to just over the recommended depth.  It's not going to suddenly transform the house, but together with other measures, will surely help.  DH has left the soffit ventilation areas uncovered, as this ain't his first insulation rodeo 😉  There was negligible insulation at the rental house - and whilst I am sure that our landlord would have given permission for us to have laid fresh - it would ultimately have benefitted him and not us, as the house itself was very hard to heat for a variety of (shonky fitment) reasons.  It feels good to have been able to do this for ourselves and, is a relatively quick, easy win which hasn't broken the bank.  I'm hopeful that he will get the other rolls in the next day or two and complete the job so that it can be ticked off the list 👍He's just said he will go later this afternoon to get them, once LG is home.

I went to Mr Al's earlier.  It was busy, but strangely calm/quiet in store.  I spent more than I had anticipated, but the store was very well stocked, so I picked up stuff that I had intended (that we normally go to Mr Al's to purchase), plus items that I otherwise would get from Mr L's - but our local store is a very poorly stocked one 🙁

I have wrapped presents.  I can't help thinking that LG  hasn't got much to open.  It's not about the financial level - although I haven't spent oodles either.  But it's a combination of LG not really mentioning anything they specifically wanted, us moving house and also not being able to find stuff in the shops.  Clothing is getting to be a nightmare.  And to be fair, LG isn't yet insisting on designer this or designer that, but nothing ever fits!  We are lucky in that several relatives and friends have gifted money and some gifts, so it isn't that LG will have nothing - they are actually a very lucky young person who people think kindly of, it's just from a child's perspective, there won't be 'lots' to open.  I do think they will like what they have been gifted though, and thought has gone into the purchases. 

Right, best shift a tail feather again.  Have items to stow away 😉and I will look to get the washing in just now.  We have watery sunshine at least, but the wind is quite cold, and it will only get colder as the afternoon ticks on.

Greying X

Pollie

Lovely to see you posting again. Can't believe that BG is now LG and at school--where does time go? Wishing you all the very best in your new home.

FlacosFloozie

Happy new diary and happy new home!

Greying_Pilgrim

Good Evening MFW'rs

And visitors - how lovely.  Thank you for stopping by and being so kind 😁

Tea this evening was HM curry - although I did cheat and used a sauce pouch on this occasion.  But the dhal was made from scratch, and I did cook/add onions/ginger/garlic, mushrooms and chickpeas to the pre-made Murgh Makhani sauce.  Served with steamed basmati rice.  Certainly cheaper than a takeaway and leftovers for a freezer curry plate another day.  No excuses now not to batch cook as I have the freezer space once more, and it will keep me out of the shops.  Our nearest shop is still a local co-op, so it's not hard to keep out of there......  And although there are now 2 takeaways much closer to the house, 1 serves a cuisine that we don't much care for, and the other is an unknown quantity in terms of quality.  We may try it out one day, but for the time being, it's probably more budget conscious to keep the purse firmly closed......

Today I am grateful for these 3 things;

- a slightly warmer house (OK, so we are trying to work out if we're imagining it, but it seems warmer......)
- the budget stretched to 2 more rolls of insulation and DH will install it tomorrow
- a functioning clothes line meant I could line dry and saved on launderette costs this week.

Greying X

edinburgher

Hello Greying 👋

Well done to DH for giving you a cozier home at a reasonable price and to you for hanging laundry outside! Your meal sounded delicious as well.

I wouldn't worry about the quantity of gifts for LG. If even a modicum of your lovely nature has rubbed off on him he will be very appreciative for what he receives, I am sure

teapot2

Good to see you back in diary land x