How would you like to become mortgage free

happyfella

SInce the Covid pandemic a lot of people have looked at becoming mortgage free and changing their way of life to have a better life.

I love seeing what people do in the newspapers and on videos, so my question is, if you had £60,000 how would you become mortgage free, and i don't mean paying off your mortgage.

Some people have bought buses and converted them while others have bought a canal boat, so what would you do

chiarieds

I've been interested in 'tiny houses' for a long time & think they are a good option, also eco friendly.

chiarieds

Hi @Biblioklept - I actually live in a Park Home, which is only 10 x 40 feet, so watched TV programmes & videos about 'tiny houses' which gave me some inspiration as I managed to update my home, with the help of a wonderful joiner, who also came up with some ideas for extra storage (& yes, that included bookcases & shelves for books!)

leeCal

Do you full years residency @woodbine? Quite few near me are only for ten or eleven months of the year.

i must admit some years ago I was tempted by a park home but with rising prices we were able to move on by downsizing and are mortgage free, thank heavens. It was a mixture of luck and planning.

happyfella

woodbine said:

We moved into a park home 11 years ago and became mortgage free in our very early 50's, we bought into a lifestyle as much as anything, everybody over 50, no resident children allowed, one car per home, easy to maintain ours is 11'x44' and we love it.

Park homes are great. There are many at different budgets depending on what you want. I have seen some for as little as £50,000 but for the big ones you are looking at over £100,000.

What i have always said is, these caravan parks, it would help solve the housing crisis if councils allowed people to live on them if they wish.

Caravans nowadays can be lived in all year due to the way they are now built. And as you have mentioned it is the lifestyle.

There is a council down south somewhere, i cannot remember where. But, they have bought a caravan park with the intention of letting people live there all year round. They have said that not everyone can afford a house, especially with prices going up.

With caravans being available from as little as £20,000 then it can give people the option of moving out of home, or those who want to sell their homes and live a better way of life.

happyfella

We were going to become mortgage free a few years ago by moving to Spain. We were all ready to make the move but then at the last minute my daughter decided she did not want to go. So, we decided to stay. My biggest regret.

vikingqueen

      I bought the worse house on the street, it had squatters in it for 3 years so you can imagine the state   . I had to jump through hoops to get a bank to lend on it but I finally managed to get a 20 year mortgage  and managed to pay it off in 13 years. Been here 30 years now, best thing I ever bought. 

leeCal

They say buy the worst house on the best street, makes sense.

leeCal

If I was younger and if I had £60k I’d seriously think about buying a small plot of land and living in a yurt ⛺️ 

Quite a few ifs though.