Owning your own home

How long do we again have before the world burns and our entire society collapses?

I've been buying beans.

hope they're the prepper ones with 30 year shelf life

I'm not going to last that long without Wifi.

we'll be lucky to have electricity, let alone wifi

This looks like a solid plan.

Mate the future is bottlecaps

I thought my plan was very neat and sensible.

It’s not unsensible - it just involves large sums of money, human relationships and the bonkers legislation around buying homes. And you can’t go back in time after doing it. So I think it’s worth hearing alternatives from internet strangers even if you decide your plan is best for you in the end.

You're not being selfish enough for this thread!

Only slightly joking.

I read something somewhere about property ownership and the correlation with self interest.

Basically though, it's a pros and cons list, and there just weren't that many pros for the original joint ownership proposal.

I’d move the currency into gold/non-UK based investment instrument, no way I’d want it in either GBP or UK property at this point in history.

French sale and leaseback chalet in the alps?

Last person I spoke to about them, said you could get one with as little as 30k EUR deposit and the numbers showed a net >2% yield. A couple of week for yourself in ski season and then the summers mtb'ing when it's vacant.

(incidentally if anyone has absolutely tonnes of cash then PM me as if you can front the cashflow for 3-18 months then the deals on the >1m EUR chalets from developers are pretty impressive).

French sale and leaseback chalet in the alps.

If GBP recovers against the EUR (i.e. A50 is revoked) then you'll make a stonking loss moving GBP to EUR now.

A couple of week for yourself in ski season and then the summers mtb'ing when it's vacant.

Sounds awful. Where do I sign?

PM'd...

trollface.jpg

How about use the cash to buy a buy to let in somewhere cheap as chips with high unemployment and fill it with DSS tenants in a HMO?

Alternatively I hear workhouses are coming back and smart investors get in early...

#spiritofthethread

Mrs Sparky would rather live on the streets in a cardboard box than be a BTL landlord.

And finally we've just exchanged. Only took 6 months and two threats to pull out

lol as if.

As the bulk of the purchase would be debt that is being serviced through EUR income, your loss would be limited to the cash. But yes, the income will be in a devalued currency as will the VAT rebate.

@chrisbmx116 - I've pm'd you a brochure. Just complete the form and remember to include your mother's maiden name and first school for kyc purposes. thanx

@Fox - I was trying to find an article about sub-sub-prime trailer parks for sex offenders being great investment opportunities due their inability to move freely, but can't. But you're right, low income social housing would be a good idea, especially with the wave of unemployment AI will bring.

#happydays

A couple of week for yourself in ski season and then the summers mtb'ing when it's vacant.

Sounds awful. Where do I sign?

A friend owns a ski chalet. He says it's not economical to use it himself unless it really is vacant (and if he leaves it that late, sometimes the chalet gets booked with just a day or two notice, the flights and other last minute costs wipe out any savings he'd make).

Most of the time it's cheaper and easier to get the rental income from his chalet and just pay to rent somewhere else (even in the same resort) months in advance.

(Part of this is because his family of 5 doesn't fill his chalet that sleeps 10, so he either has to get friends/family to fill up the empty space - which changes the holiday dynamic - or take a hit to have loads of unnecessary space. As an investment it's been great for him, he just doesn't ever use it himself.)

He says it's not economical to use it himself unless it really is vacant

Hah. I assume at that point he means ‘returns less than cash in the bank’. But yeah that would kinda suck given the stakes.

As a wise man once said- “don’t hate the player, hate the game”.

May or may not have been Ghandi.

Wahoooo! Congrats buddy.

She’s a keeper.

As for all you French Chalet owning capitalists, the rest of us will be laughing when global warming wipes out the Alpine skiing industry.

And then booking in to use it for new summer riding MTB opportunities.