Mid-Life Crisis...HELP!! (1 Viewer)

[petrab]

Hi all,

I'm ready for the final push....just need a little help...I'm am 40 this year and husband 35, he has just lost his job for the second time in a year. I have always dreamt of travel and a more nomadic life but ended up like most tied to mortgages and dead end job....I have a flat in London I rent out and have a little house in Kent, which we will rent out, so I hope we should be able to survive...not lavish or anything but afford the essentials. We don't have the motorhome yet and need all the advice we can get, we are looking to travel eruope so help there also needed.

Thanks

Petra & Bert:thumb:

 

[Ralph-Dot]

If you re going to travel around, don't forget to budget for fuel, it can be a lot more than you expect.

 

[tony morris]

Hi to you both, welcome to the m/h forum,
you only get one bite of the apple in this life,?
go for it, just make sure you do your homework,
choose the right m/h thats best suited to you,
make a mistake it could cost you a lot of money.
look around has many as you can, you will now when you have found the right one,
has soon has you go inside you will feel comfortable and at home.
I wish you all the best of luck in your new adventure Tony

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[scotjimland]

Duplicate post

Hi

welcome, there are lots of good posts on full timing, there is also a full timers forum .. take your time reading and weigh up the pros and cons.

It's not a long holiday nor living a dream, .. it's a lifestyle, which some find great, others not... there are many things to consider and it's a lot more difficult than many would have you believe.

* Plan your finances.
Sounds obvious, but you must have a sustainable income and sound financial plan..
Budget for an expenditure of at least £12k - £14k per annum.. and that's a minimum, no fancy meals out, extravagant living or expensive sites.

* If you change your mind, have a way back.. a 'get out of jail card'
Too many say , I'll cross that bridge when or if I come to it.. that may be too late.

We have just returned to bricks and mortar after three years 'on the road'. It was a great experience and we have no regrets but are happy to be back under slates, however, it was a lot harder 'getting back' than going away.

Good luck and ask plenty of questions..

jim

 

[JJ]

He(She) who hesitates is lost...

Welcome to the site and I say "Go for it..."

I have had four major life changes which has taken me from school master to street performer and each one has been for the better...

JJ

 

[scotjimland]

I have had four major life changes which has taken me from school master to street performer and each one has been for the better...

JJ

you could say it's all downhill then ?

let's hope there aint a fifth .. oh:

only joking.. you have a great lifestyle mate :thumb:

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[Douglas]

GO FOR IT

But just a word of caution if you have not rented property before, get the wrong manager and/or the wrong tenant and you can have your property trashed, I know.

Doug...

 

[haganap]

Good luck,,,, Go and enjoy it....

 

[hilldweller]

tied to mortgages and dead end job
Petra & Bert:thumb:

Well it can't get any worse then, can it.

Running away might not end up the cure but give it a try or forever regret it.

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[vwalan]

never do things you will later regret. i do things that i my have to do differently next time . life is short. dont take the wrong route .take the one you think is right ,then change it later. is your cup half empty or half full . mines allways full ,sometimes only of air ,but you cant get anymore in . try it it works for some . make your own choice. some dont even realise there are choices. have fun thats the way to do it,cheers alan.

 

[hilldweller]

never do things you will later regret. i do things that i my have to do differently next time .alan.

Sure as hell there are things I'd do differently.

But it's life. We make mistakes. As long as we don't damage anyone but ourselves then do it or regret it forever.

I once watched a guy in Hailwood, all day, every day he welded to pieces of steel to make a Ford petrol tank. Hell he even got to dunk this in water to look for leaks. LIFE is more than this.

It may be running away but on the other hand they may discover a whole new world. Can it be worse than Gordon Brown's world ?

 

[vwalan]

brian,, its a state of mind. carry on reading. keep to the right state of mind. life becomes much better then. some keep making mistakes . i say try it you can change it later ,thats not a mistake just a different adventure. choices ,choices life is full of choices .

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[scotjimland]

Ten Reasons to go full time

This is taken from an American site, but much applies to the UK ..

This is all possible with good planning and a sound budget but it's still a step change in lifestyle.

1. Live your retirement dreams. Are there places you’ve wanted to visit but never took the time or perhaps didn’t have the money to do so? Now you can travel at your leisure and visit all those places. Whether it’s visiting national parks, following the Oregon Trail, playing at amusement parks or getting your fill of country western music, it’s all there for you.

2. Take your house with you: Instead of having to pack and unpack and hassle with airports or schlepping luggage in and out of motels, everything is there. Some RVs come with air or pillow-top mattresses, or you can add your own. Instead of sleeping on a lumpy mattress or too hard one night, then too soft the next, enjoy your own. Your bathroom is clean and you can relax at night on your comfortable sofa or La-Z-Boy recliner.

3. Zero yard work and cleaning house is a breeze: With only a couple of hundred square feet to clean, cleaning house takes just a few minutes. There is no lawn to mow or yard to maintain.

4. Stay active: Most experts agree that staying active prolongs and improves quality of life. Living in an RV provides many ways to stay active physically and mentally. When traveling, you have to stay engaged with life!

5. Live less expensively: An RV is much less expensive to maintain than a house. Nightly campground fees are normally less than property tax and maintenance expenses on a stick house. Many expenses in the RV lifestyle can be controlled so you can cut back in a budget category when needed.

6. Meet new people and make new friends: RVers are very friendly people. Opportunities are constant to meet new people. Get involved with an RV club or at an RV resort and find a whole new community. Working or volunteering as you travel is another way to meet people and make friends.
7. One house, many views: When you get tired of one view, move on to the next. RVing is the ideal way to snowbird. Go where it is cool in the summer and where it is warm in the winter. Change your ocean view to a mountain view in a matter of a few hours.

8. No property taxes: Enjoy home ownership (your RV) without property taxes. Rent an RV space for as long as you want, then move.

9. Have many new experiences: You can actively have so many new experiences and be part of them rather than experience them vicariously on the boob tube. Stand where Lewis and Clark stood on their Voyage of Discovery. Crew for a hot air balloon at Albuquerque. Kayak among whales in Glacier Bay. Hike part of the Appalachian Trail. Or visit historical monuments; an auto tour at Gettysburg makes you feel like you are part of the Civil War.

10. Visit friends and relatives: Visiting friends and relatives in an RV makes visiting so much more fun. Even if you are parked in their driveway, you have your own space. Or,stay at a nearby RV park so you are not instant babysitters!

 

[calculad]

Yeh I had one of those. Good job, well paid but one day the stress hit me very hard.
I quit and do you know what, it was very liberating.

I got a nice little low paid job with zero stress and huge horizons of opportunity opening up in front of me, because now every job was better paid.
Ended up trying various things finally to settle on being self employed.
Hope I haven't drifted off topic.
Good luck

 

[Heyupluv]

GO FOR IT

But just a word of caution if you have not rented property before, get the wrong manager and/or the wrong tenant and you can have your property trashed, I know.

Doug...

And I know to our cost, many times (with property we have rented out) I have rented out properties for about 20 years. :Angry:
Don't go on looks
Don't go on good quality clothes
And don't go on references
Do a lot of checking do your home work well?
As there many good looking smartly dressed crooks with references to die for...all bogus
These people go from one rented place to another,
And getting them out of your property is not easy, they only decide to move when the bailiffs arrive and that takes months up to about 12 months, they have the law on there side and are advised well by free legal help, and they know the system.
Listen to what other funsters have said they speak wisely.
At the end of the day, it is your property and your money you are loosing

Mel

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[lorger]

I was once given a bit of advice by an old guy i worked with while serving my time he told me when i get to his age i should only have regrets for things i have done and not for things i haven't done. In other words dont get to an age and say to each other i wish we had did this or that.

Good luck
Gerry

 

[Bulletguy]

And I know to our cost, many times (with property we have rented out) I have rented out properties for about 20 years. :Angry:
Don't go on looks
Don't go on good quality clothes
And don't go on references
Do a lot of checking do your home work well?
As there many good looking smartly dressed crooks with references to die for...all bogus
These people go from one rented place to another,
And getting them out of your property is not easy, they only decide to move when the bailiffs arrive and that takes months up to about 12 months, they have the law on there side and are advised well by free legal help, and they know the system.
Listen to what other funsters have said they speak wisely.
At the end of the day, it is your property and your money you are loosing.

Renting out my property was an option I was considering......until a friend of mine told me about a friend of his who had had very bad experiences. He's lost thousands in sorting damage out, unpaid rent, solicitors fees and court costs in getting tenants out of his home. As you say, the law is on the side of the tenant.....not the landlord.

It's made me think twice!

 

[vwalan]

i find its better to let someone you know live in it free whileyou are gone . they usually thank you .if you rent out it just costs you lots. its amazing how easy it is to get carefull people for free i think it puts them under an obligation. when you charge they think they can break everthing . been there tried it.

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[derekfaeberwick]

Mid Life Crisis

Mid LIfe Crisis! I wish I was young enough for one of those .

 

[Heyupluv]

Renting out my property was an option I was considering......until a friend of mine told me about a friend of his who had had very bad experiences. He's lost thousands in sorting damage out, unpaid rent, solicitors fees and court costs in getting tenants out of his home. As you say, the law is on the side of the tenant.....not the landlord.

It's made me think twice!

What happened to Bulletguy's friend happened to us several times....and don't think like I did "I am well insured".........wrong........as I was told a few times.........covered for breaking... in....not breaking out.......you tread a very fine line with insurers what clause they can find in the small print why you should NOT be paid.....new properties trashed you would think the third world war had happened....so what do you do, you grit your teeth wipe the water out of your eyes and start again out of your own pocket (yes they can make a grown man weep)...Jeckle and Hide...springs to mind

Then you go onto heating, every year it must be checked by a (used to be) corgi registered heating firm...they must give you a landlords report, and because they know you must have one these reports,.... boy do the Corgi men know how to charge for that report, and when they are servicing your heating are they worried about breaking anything on the boiler, no, because you will pay.............

IF you do rent out at the end of the day, empty your place leave a bare shell carpets and curtains is classed as furnished ...then you are not liable if something goes wrong or breaks...e.g. electric cooker, (that would have be checked every year if gas) shower, plumbing leaks, the list goes on.
The tenants will ring you if a light bulb goes or a rubber sink plug leaks.....one tenant I had for 3 years you would think they had eaten all there meals on the carpets instead of plates...

This is what happens a lot of the time

Or you could get some nice caring tenants who will look after your property like there own !
But the when you come back and you want to live back in your own property, can you get the tenant out!........not very easy….
Renting is not just filling your pockets…..if you are a good landlord…you have obligations and responsibilities by law.

Mel

There a lot of landlords out there like the bad tenants………

there are good people out there but most of them will own or are buying there home...

 

[atakd]

If you rent I would try and get a guarantor, who is a house owner, for the tennant . It is much easier to get £ off them as they are less likely to vanish and they will act as an unpaid property manager if its their offspring renting.
I'd agree with a budget ~£1000 / month for a reasonable standard of living, money goes further if you're somewhere warm.
Best of Luck
Andy

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[Sundowners]

We are now on our second time around living in our fifth wheel 24/7.

When we were in our early thirties we spent 6 years travelling around Europe, sold the house as we were planning to move abroad (a long story, but it never eventuated). House prices went sky high and when we came back to settle, mainly to put the kids into school to finish their education. We did get back in owning our own house again, but it was not easy. At that time of life we could start afresh, but not so easy as you get older, so we decided that this time we would keep our house.

Because of our circumstances we have been renting out our house for the last 7 years, but it is to American servicemen, we would not even consider renting it to others because as has been said, the landlord has no protection over tenants. If our tenants do anything anti-social, any damage or mis-use of premises whatsoever, even default on the rent, we only have to contact the USAF base and they will deal with them and not too kindly.

Our daughter looks after it for us, for a small fee, so if we need a new tenant or problem fixed, she organises that. This gives us peace of mind.

We always like to have what we call a 'y' road, so if something doesn't go to plan, you always have another option available to you.

Living as we do is not a dream, it is a way of life (which to us is as close to a dream as it can be), but it does have it's pitfalls, and does take a lot of planning. But to us it is our prefered option of a lifestyle at this moment in time, having experienced it before, we are already aware of the highs and lows of this type of lifestyle, please don't anyone go into this way of life with rose coloured spectacles, you will learn a lot along the way, make mistakes which can all be over come, as long as you have the right mental approach, and this you learn with time.

If you are able to try this type of lifestyle, given your circumstances, give it a go, but do not burn all your bridges and remember it's not a holiday, it is a way of life. You are still young enough to start again should the need arise, but as you have already had the experience of renting out your property you are already aware of that side of things and you will always have somewhere to come back to.

Good luck in whatever you choose.

Nigel and Pamala

 

[vwalan]

sundowners ,you put it much better than me. i agree with every word you say. i dont like to put people off but sometimes they do think the grass is greener. cheers alan. heep on smilling.

 

[Peter JohnsCross MH]

There are some letting agents, part of large established estate agents who say they guarantee rents.

Obviously tied to a letting management agreement, but presumably that takes all the possible agro out of letting.

Might be worth investigating.

Peter

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[vwalan]

that depends if you trust estate agents or even solicitors . could be they take a good share of the cash .dont monitor the premises then the last 3 mnth of contract the tenant disapears and dont finish paying the rent. try taking an estate agent or solicitor to court . easier to trap your head in a door and less painful. all part of being alandlord. best is stay local and if you getany trouble go in mob handed throw there things out and wait for them to take you to court , never do though .

 

[Heyupluv]

that depends if you trust estate agents or even solicitors . could be they take a good share of the cash .dont monitor the premises then the last 3 mnth of contract the tenant disapears and dont finish paying the rent. try taking an estate agent or solicitor to court . easier to trap your head in a door and less painful. all part of being alandlord. best is stay local and if you getany trouble go in mob handed throw there things out and wait for them to take you to court , never do though .

Peter what Alan is saying is correct, a letting agent at the end of the day are there to make money, your money......vetting people.......that’s a laugh,
Many of my friends that used the letting agent/estate agents route to rent out property for them....most of them ended up with no income and tenants they could not remove....the agents take there cut first and any expenses acured while employed by you, also any repairs they have had done on your behalf (working with builders that are giving them back handers) and of course somebody has to pay the money they slipped the agent,
It all goes on your bill (with little extra on top for the builders/plumbers pocket as with the corgi fitters also taking work from the agent),

Never have the rent money go straight into your bank from the government for the people claiming benefits….thinking at least you are getting your money…wrong
You must have it paid in cash or through there bank then into yours, that is if they have bank account
If your tenant de-frauds the government and the money goes into your bank from the government, they can retrieve the money back out of your account, and this has happened to people I know…so you loose all that rent

What Nigel says, sounds ok, American air base...I would think that is sound, and I like what he has written.

What Atakd said about guarantor ...gone down that route...with me it did not work..The couple I had as tenant’s, young 30 to 35ish you would think the female was a model, finger nails about 6" long ..in business with the uncle with a boy about 14...even neighbours painted such a rosy picture......................Tenants from hell...they would call and fetch the rent as they were passing while they were working (bad mistake you never get to see your property) after about a year of renting we had to go down as we had received a complaint about a dog!!!!what dog!!
This dog had tried to bite the next door neighbour man age of 82…what dog!!

When we arrived the front door split down the middle with a inch gap with locks hanging off so the door had not been shut for about a month...so inside was black and all the carpets wet through with the rain getting in, the bath had two great big holes in, pvc windows broken , large holes in the wall,
All the interior doors shreded..then we saw the DOG they had a rather large Alsatian locked inside(it said on the rental agreement no pets) the doors was shredded because the son/boy of 14 just out of remand/borstal climbing on the wheelie bin onto the roof gemmed the pvc windows to get inside the Alsatian going mad to get at him so the carpets and doors just got trashed they had changed brand new doors inside to some second hand and screwed them on to the door frame, they did not hang correct or close, all this was because the originals was so badly broken...the list goes on..when we finally got them out they had the cheek to ask for there bond back (the wife had a few choice words for them, and they were off very quickly with file-a-fax in hand),...they were two drunks/alcolics.and just went barmy........the woman one night sat in there car (I use there car loosely) in the rain revved the car up to full revs and let the clutch out ploughed through three neighbours cars...she was then taken away by the police…drunk!!
After they had gone, for two years we had dept collectors and phone calls from the police from all over England wanting money they had swindled from many many companies...they had purchased new cars it was endless,…. they was still using that address of mine
They had also swindled the uncle and the mother who was the guarantor....so you can not get blood out of a stone...or you can not get money from somebody that has got none...this is just one set of tenants.
The cottage they rented from me was a rebuild just completed three weeks before they moved in

BUT DON’T LET ME PUT YOU OFF, THER ARE GOOD TENANTS OUT THERE…..ENJOY YOURSELF…..JUST BE CAREFUL

Mel