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  • FIRST POST
    MoverShaker
    Anyone else feel this way? Y Generation Living!
    • #1
    • 21st Oct 12, 4:24 PM
    Anyone else feel this way? Y Generation Living! 21st Oct 12 at 4:24 PM
    Hello there! I'm new to these forums and wanted to ask first of all - is anyone else going through what my husband and I are going through? We're both aged in our early thirties, we've not yet had children and we run our own businesses from home.

    We're renting at the moment - we have been homeowners before but ended up hating the feeling of being tied down and sold our house to escape the mortgage. Since then, we've been 'trying out' different places to live... different cities across the UK. We've sold a lot of our furniture and 'stuff' and are becoming more and more mobile. And the less stuff we have, the happier we become.

    I guess from owning a home we also realised that we didn't want to spend our lives, slaving away and paying off the mortgage, working towards a retirement that might never happen (I've had health problems). Instead, we've ditched the mortgage and other things to move towards a leaner and happier existence.

    These days, weekends aren't spent doing the garden or housework - they're spent doing social things, sports/fitness or even learning. And because our outgoings are significantly less, we can afford to eat out a lot and go on little city breaks and holidays all the time, often taking our laptops so we can carry on working.

    Even better - because we live in a city, we can walk everywhere. There's no stressful commuting. We barely use our car (which we're thinking of selling) and cycle everywhere instead. Life is good.

    What's more, because our outgoings are less - we're not stressed, don't have to work as hard and have more spare time to relax and enjoy life. You could say we're having lots of mini retirements along the way and enjoying our lives now rather than making sacrifices for later.

    The only thing that bugs us is the property issue - we think it would be sensible to buy something in the next year or so and we're considering a city centre apartment that we can rent out if we want to move in future.

    But really - I just wondered... Does anyone else feel this way or going through the same thing? I read things about the Y Generation and how this is quite common for us. It would be great to hear your thoughts.

    Thanks
    MS
Page 3
    • mgarl10024
    • By mgarl10024 9th Sep 13, 12:44 PM
    • 638 Posts
    • 450 Thanks
    mgarl10024
    While I don't like the idea of renting permanently or travelling everywhere (I'm more of a settler who wants security), I do like the idea of simplifying, reducing costs, reducing working hours, avoiding commuting, cycling, and enjoying the benefits of financial independence.

    ...We've sold a lot of our furniture and 'stuff' and are becoming more and more mobile. And the less stuff we have, the happier we become.

    ...we didn't want to spend our lives, slaving away and paying off the mortgage,

    ...move towards a leaner and happier existence.

    ...These days, weekends aren't spent doing the garden or housework - they're spent doing social things, sports/fitness or even learning.

    ....Even better - because we live in a city, we can walk everywhere. There's no stressful commuting. We barely use our car (which we're thinking of selling) and cycle everywhere instead. Life is good.

    ...we're not stressed, don't have to work as hard and have more spare time to relax and enjoy life.

    ...You could say we're having lots of mini retirements along the way and enjoying our lives now rather than making sacrifices for later.
    Originally posted by MoverShaker
    When reading your initial post, it reminded me strongly of this guy: http://www.mrmoneymustache.com/
    Indeed, his most recent article is about how to buy a house - http://www.mrmoneymustache.com/2013/09/04/how-and-how-not-to-buy-a-house/
    • googler
    • By googler 9th Sep 13, 12:50 PM
    • 15,294 Posts
    • 10,053 Thanks
    googler
    Hello there! I'm new to these forums and wanted to ask first of all - is anyone else going through what my husband and I are going through?

    Not me.

    And the less stuff we have, the happier we become.

    Many people have pursuits, hobbies, interests, etc. which give them a lot of happiness, and which are incompatible with shedding 'stuff'.


    And because our outgoings are significantly less, we can afford to eat out a lot and go on little city breaks and holidays all the time, often taking our laptops so we can carry on working.

    You seem to be in a very fortunate position, both having multiple 'businesses' which can be controlled entirely from laptops, which apparently require no stock, no premises, no interaction with suppliers or clients, no manufacturing facility, no travelling for promotional purposes ...... do tell. What are these businesses?


    Even better - because we live in a city, we can walk everywhere. There's no stressful commuting. We barely use our car (which we're thinking of selling) and cycle everywhere instead. Life is good.

    Again, many folk have pursuits which are incompatible with this - as a for instance, you wouldn't be able to do this if you were in an amateur orchestra, and were schlepping two saxophones and a clarinet to rehearsals on the other side of town, would you?


    But really - I just wondered... Does anyone else feel this way or going through the same thing? I read things about the Y Generation and how this is quite common for us. It would be great to hear your thoughts.
    Originally posted by MoverShaker
    If everyone were living this kind of existence, there wouldn't be any retail trade, no manufacturing, etc., and there wouldn't be enough room in the cities for everyone who wanted to live your lifestyle, surely?
  • exarmydreamer
    We spent years moving about as a family, before and now with children. Our job meant we had too, we have had 5 married quarters in 5 years and the children found it very difficult with schools. We have been out of the Army since 2007 and bought a house in 2005.

    We have both always had 'itchy feet', and this is the longest we have 'sat still', (43 and 45 yrs). We are about to house hunt now but the move is more to do with appropriate schools for 2 of our children with autism. Our children have meant we have to consider the effect of owning or not owning our home, as they may need help in the future once we are gone. To us a house is a home and not a money making machine, we would not rent as it is dead money and I don't think there will be so much help in the future for pensioners on state pensions who need to pay the landlord.

    I suppose, if you own it, no one can take it away and you have something for your children to help them on their way, (especially if they are disabled). Would I love to get up and go?, yes I would but if you have priorities like children or job which is not flexible then it is a no go.
    Mortgage: Aug 12 £114,984.74 - Jun 14 £94000.00 = Total Payments £20984.74 [B]

    Albert Einstein - “Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
    • silk
    • By silk 9th Sep 13, 1:13 PM
    • 207 Posts
    • 40 Thanks
    silk
    House buying feels like a necessity to me personally because whilst renting I just feel so restricted - can't do anything with the house, need permission to get a pet goldfish, worry if my cat rips a carpet, and so on. To me that's not really living.

    In the process of trying to buy a house (again) so fingers crossed.

    I am the opposite to you OP, I am also in my thirties but I want the security of being on the property ladder asap and paying it off asap so I can retire early and have no worries. To be honest life isn't that bad now anyway, decent job and get plenty of time to myself after work and at weekend. My only worry in life right now is all the dead money I've spent on rent, it adds up to astronomical amounts and it's literally just wasted money.
  • exarmydreamer
    As one of those countless thousands that have made the mistakes and have severely restricted choices about whether to rent or buy, I come on here for some solace and as many top tips as I can find. I am facing lengthy renting and possibly into retirement unless I take to robbing banks. Good for you I say, but not the place to kick people when they're down.
    Originally posted by plymouthpafc
    Nobody is kicking anyone, we all have different lives, jobs and responsibilities. You have said yourself that you have made mistakes and they are ones you will have to live with. Just because you are where you don't want to be, does not mean that everyone is the same as you. Good Luck to you.
    Last edited by exarmydreamer; 09-09-2013 at 8:17 PM. Reason: Badly worded
    Mortgage: Aug 12 £114,984.74 - Jun 14 £94000.00 = Total Payments £20984.74 [B]

    Albert Einstein - “Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
    • jules888
    • By jules888 9th Sep 13, 5:15 PM
    • 530 Posts
    • 374 Thanks
    jules888
    Hubby and i are 46 and havent had a mortgage for 6 years but plenty of other bills to pay still and 2 teenage boys who will probably be living with us for a lot of years yet but now we have our forever house we are saving up to travel when our sons are ok to leave on their own.A few years away yet!
    Hubbys been a civil engineer for 27 years and really wants to get out of it.
  • jamie11
    As a senior citizen with a fair bit of property I've always believed in owning the property I live in, but now that I'm looking for my final home I'm considering renting as well, that would probably be with a housing association. I don't expect to live forever so would be paying whatever the rent is but leaving quite a lot of cash available for enjoying my final years, of course I may live to be 100 (unlikely) but if the cash ran out then I can always rely on the state to bail me out, My sister has done something similar and it doesn't cost her a bean for her lovely one bedroom flat in a housing association estate. Different ages and different priorities.
    • Soleil lune
    • By Soleil lune 9th Sep 13, 6:57 PM
    • 1,104 Posts
    • 2,987 Thanks
    Soleil lune
    As a senior citizen with a fair bit of property I've always believed in owning the property I live in, but now that I'm looking for my final home I'm considering renting as well, that would probably be with a housing association. I don't expect to live forever so would be paying whatever the rent is but leaving quite a lot of cash available for enjoying my final years, of course I may live to be 100 (unlikely) but if the cash ran out then I can always rely on the state to bail me out, My sister has done something similar and it doesn't cost her a bean for her lovely one bedroom flat in a housing association estate. Different ages and different priorities.
    Originally posted by jamie11
    If, as your post suggests, you have a fair bit of property - then you won't qualify for a housing association property. Social Housing is for people in housing need; not for people who own several properties. If you wish to rent as well as own a fair bit of property, then you will have to go for private rent. That said, why do you not live in one of the properties you own?

    I doubt that the original poster is going to respond to this recently bumped back up thread, as he/she hasn't been online for 9 months.
    • Lord Baltimore
    • By Lord Baltimore 9th Sep 13, 7:14 PM
    • 1,318 Posts
    • 1,306 Thanks
    Lord Baltimore
    Life is good.
    Originally posted by MoverShaker
    If you think the life you described is good, it will feel a whole lot better when you have children.

    And with children your whole ethos and attitude will change. You will realise that those you feel are tied down are very much enjoying family life to the full.

    When you have kids, you'll want a house and children will fill all those gaps for you in the 'perfect life' but then you didn't write to actually hear replies did you?
    • Soleil lune
    • By Soleil lune 9th Sep 13, 7:14 PM
    • 1,104 Posts
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    Soleil lune
    Millions of folks are 'hidden' renting with interest-only mortgages and no obvious means to repay the capital.
    Originally posted by Nan Dingle
    Very true. The house is never yours until you have paid the very last mortgage payment. With many people starting to buy a house today, that will probably be 75 plus, with not many more years left! And even if they do manage to pay off the mortgage by 50 or 60, they will probably have to sell it to pay for their care when they are elderly, or to raise money for their pension.

    The obsession with buying property in the UK is ridiculous, and the idea (that some have,) that you're somehow 'bettering yourself' if you buy and don't rent, is equally ridiculous... Especially as many do not own their property at all.

    That, coupled with the costs of repairs and maintenance and insurances and the tie of being stuck with somewhere you may not be happy with, next to awful neighbours etc, makes buying the least appealing of all the options. Maybe it was OK and the 'done thing' pre 2000s, but not now. I see very few positives to buying.

    I agree with the person that said that it's a shame that we are not like Europe, where everybody gets a chance to rent long term, with low rents.
    Last edited by Soleil lune; 09-09-2013 at 7:16 PM.
    • Soleil lune
    • By Soleil lune 9th Sep 13, 7:19 PM
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    Soleil lune
    If you think the life you described is good, it will feel a whole lot better when you have children.

    And with children your whole ethos and attitude will change. You will realise that those you feel are tied down are very much enjoying family life to the full.

    When you have kids, you'll want a house and children will fill all those gaps for you in the 'perfect life' but then you didn't write to actually hear replies did you?
    Originally posted by Lord Baltimore

    Controversial comment! I think children bring a lot of joy and fulfilment for many, but many people without them also lead full and enjoyable lives. Plus, the OP may not be able to have children for some reason.

    All that said, I doubt the OP is going to see the comments, as I don't think they come here anymore.

    And why do you think they didn't post it to hear replies?
    • sulphate
    • By sulphate 9th Sep 13, 7:39 PM
    • 1,165 Posts
    • 3,375 Thanks
    sulphate
    Personally I prefer stability and probably the #1 reason why we bought a house recently was because I want to be able to retire at the normal retirement age without having to worry about paying rent. In 40-50 years who knows what kind of pension we'll get. I certainly don't think that the government will pay our way.

    We should pay the mortgage off by the time I'm 50 (sooner if we overpay) so even if I go into care when I'm 70 that's still 20 years mortgage-free

    We used to rent and I felt like a second class citizen. LL coming round with no notice and letting himself in whilst my housemate was asleep, being told we weren't keeping the garden to LL's standards, difficulty in finding somewhere to live that would accept a house rabbit, being asked why we weren't forwarding LL's mail, having to be at home every time agent wanted to come round as they couldn't be bothered to get their own set of keys cut. Maybe if tenants had a little more rights in this country so many people wouldn't be drawn to owning their own home.
  • jamie11
    If, as your post suggests, you have a fair bit of property - then you won't qualify for a housing association property. .
    Originally posted by Soleil lune
    I disagree, there is nothing to stop me applying for a HA property, I already have. I intend to dispose of my whole portfolio over the next 2/3 years anyway. Nobody asks how much money you have in the bank. I should have a fair bit when everything's sold and I intend to spend it, every penny if I can.
    • Soleil lune
    • By Soleil lune 9th Sep 13, 8:35 PM
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    Soleil lune
    I disagree, there is nothing to stop me applying for a HA property, I already have. I intend to dispose of my whole portfolio over the next 2/3 years anyway. Nobody asks how much money you have in the bank. I should have a fair bit when everything's sold and I intend to spend it, every penny if I can.
    Originally posted by jamie11
    I think you are very misinformed, and you are in for a nasty shock Yes anyone can apply for a HA or council property, but whether you get it, is another story. I hope you declare all the monies you acquire from 'all your properties' if you are offered a property. If you do declare everything you have made from your 'portfolio,' (which you should or you are committing fraud,) then you will not be offered social housing.

    And do you realise that deliberately spending all the multiple 10s of 1000s you make is called 'deprivation of capital?' and will almost certainly stop you getting any state benefits or tax credits and most likely, any social housing?

    2 years ago, my friend was sick of being a homeowner, and she wanted to apply for social housing and then sell her house. But when she tried to apply, they said she can go on the list but no way would she be offered anything in her current circumstances... So she asked if she could sell the house and then move into social housing. They said she could not, as she would most likely have sufficient funds to buy a home. And she cannot deliberately spend the money to make sure she had nothing, as they would find out, and refuse her anyway, or if she didn't declare it and they found out, they would evict her.

    Out of curiosity, why do you think you should be allowed social housing (for people in housing NEED) when you own several properties? From what you have said so far, there is no reason on earth why you should get social housing.
    • Eliza
    • By Eliza 9th Sep 13, 8:53 PM
    • 1,290 Posts
    • 1,812 Thanks
    Eliza
    I would hate being tied to a house, fancy not being able to move when you want - the thought of living in a house I didn't like with all the other possible disadvantages previously described fills me with horror. If you rent you can up and off with a months notice.

    And not all landlords forbid pets, pictures on the walls, your own style of garden either. It's your home after all, and I've never yet met a landlord who doesn't appreciate that.

    There are obviously as many views as there are personalities, basically - and it's a good thing - we just all want different things from where we live.
    • calicocat
    • By calicocat 9th Sep 13, 8:58 PM
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    calicocat
    Years ago when I applied and got a HS flat no-one asked me about money or income (I was working) , it was purely based on housing need, for example if a current private rent was damp and LL wasn't fix it, over crowding, rent had become unaffordable, domestic disputes etc...........so money didn't come into it but there were criteria for it obviously. I am sure it's mighty harder now to get one though.


    As to original topic, I owned my home, then rented, moved about lots within both and have to say I prefer to own. This however may well be as I can see my retirement in the next 20 years, 15 if I plan better, and want to be rent free and any money I have to be for me and being able to do the things I fancy. The only downside I see will be that i will need that extra money for redecoration and a gardener when I may not be able to do it.....but a positive is that if needs be I can take equity out of a property as don't have children and can do as I please and stay in my own home. As I get older I want more control over things I guess.
    Yep...still at it, working out how to retire early........ Going to have to rethink that scenario as have been screwed over by the company. A work in progress.
    • Soleil lune
    • By Soleil lune 9th Sep 13, 9:17 PM
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    Soleil lune
    Years ago when I applied and got a HS flat no-one asked me about money or income (I was working) , it was purely based on housing need, for example if a current private rent was damp and LL wasn't fix it, over crowding, rent had become unaffordable, domestic disputes etc...........so money didn't come into it but there were criteria for it obviously. I am sure it's mighty harder now to get one though.
    Originally posted by calicocat
    Yes, they definately DO take into account what capital you have now. Certainly in the area I live anyway, and the area my friend lives. I doubt it would be different anywhere else.

    I really don't see why anyone should be given social housing anyway, if they have made multiple 10s of 1000s from several properties. I don't think that affordable housing should be only for people on benefits, but it certainly should not be reserved for people who own/owned several properties, and have sold them to make 10s of 1000s in profits.

    And making all that money and not declaring it is walking on very dodgy ground.
    • calicocat
    • By calicocat 9th Sep 13, 10:02 PM
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    • 22,863 Thanks
    calicocat
    Yes, they definately DO take into account what capital you have now. Certainly in the area I live anyway, and the area my friend lives. I doubt it would be different anywhere else.

    I really don't see why anyone should be given social housing anyway, if they have made multiple 10s of 1000s from several properties. I don't think that affordable housing should be only for people on benefits, but it certainly should not be reserved for people who own/owned several properties, and have sold them to make 10s of 1000s in profits.

    And making all that money and not declaring it is walking on very dodgy ground.
    Originally posted by Soleil lune

    Things have changed then, and rightly so with the present housing problems to be fair.

    If he's got loads of properties he shouldn't need social housing, and to be honest why would you!??......bit silly really, as unless you live in a tiny village like I did you are likely to find yourself in a real poo area of town. Also as I think you said, surely its just as easy and better to live in one of your own......unless they are in poo areas too of course.
    Yep...still at it, working out how to retire early........ Going to have to rethink that scenario as have been screwed over by the company. A work in progress.
    • Lord Baltimore
    • By Lord Baltimore 9th Sep 13, 11:08 PM
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    Lord Baltimore
    Plus, the OP may not be able to have children for some reason.?
    Originally posted by Soleil lune
    The OP said no children yet; I took this to mean a deliberate choice based on the subject matter of the post.

    All that said, I doubt the OP is going to see the comments, as I don't think they come here anymore.
    I know that but the discussion is now about the concept raised in the Original Post not the personal choices expressed by the specific Original Poster.

    And why do you think they didn't post it to hear replies?
    Because, Sherlock, the OP has not responded to the majority of contributions and indeed hasn't been here once in 2013.
  • jamie11
    Out of curiosity, why do you think you should be allowed social housing (for people in housing NEED) when you own several properties? From what you have said so far, there is no reason on earth why you should get social housing.
    Originally posted by Soleil lune
    I think it's you misunderstanding me, I am talking about having a smallish property designed for elderly people. I expect to pay the full going rate of rent for it, I don't have a problem with that. It would be nice not to have to worry about maintenance

    As for selling up, why on earth should I keep owning property into my extreme old age, it can be stressful enough when you're young.

    Snide comments about whether I declare tax or not annoy me, all my affairs are in apple pie order, that's what I pay an accountant for.
    The guvmint will get it's share when I do sell up, the rest I will use for my own purposes, after all, that's why we work and save innit?
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