Published on 12, July, 2020
Hey I know I keep going on about moving I’m just finding it hard and I don’t think my folks get it so I can’t really talk to them much. looking at renting isn’t really going great I’m just struggling with the whole concept. However it struck me today that rather then saving for a home and renting why don’t I do shared ownership. But then I don’t really know what that is where it would lead me and what happens so could someone please explain to me what shared ownership is? In simple terms because Google is confusing me and what the pros and cons are
Ways I've seen low/intermittent income type people win at housing.
1. Buy with a mortgage and sublet most of it getting the tenants to help you pay it off quicker.
2. Rent a large falt e.g. over a shop, and sublet for more than yrou rent, saving the money towards your forthcoming house purchase.
3. Buy or rent a narrowboat, live cheaply and save for the house.
4. Buy something really, really cheap, pay of the mortage quickly due to hard work and frugality and sublet it, augmenting yoru income so you can get a larger place with a bigger mortage.
Anyoen else know any suggestions?
My own idea was to buy some land (done) and build a clandestine refuge (part done) to be able to go and live in if my current housing arrangement fails...
only idea i have is what i did.... not care about standards, look for the cheapest dump on the market that no one is bothering touching. buy that. everything else will sell in the first day of listing and before your allowed to place a offer its always sold. need to buy undesirable cheap dumps that no one is touching, like my communist looking dilapidated looking flat lol which only looks like a dump on the outside... on the inside its big, way bigger than modern flats.... infact its as big as a unmodified bungalo plus has a garage too. but people didnt want these as they look ugly from the outside lolmy other plan was always to buy a cheap yacht... like a 3k cost westerly centaur... and live in a scottish sea loch as that would be most secure and not as wavy, relatively flat and easy to anchor from.
nah i didnt even do my flat up as it was ok enough condition. not gonna sell as its always livable. dont need to sink more money into a house to live in when my cheap flat can be lived in. that way all my future money goes to saving for retirement. although yeah i do need to perhaps bear in mind anything can happen to flats in a lifetime... but i do hope to stay in it to the end of my days and not need to stress about moving again. lifes easier when you stick with a thing.
So like what buy a flat do it up live in it for a year and then sell it on use the funds for another house? That kind of thing?