Caravan life

[mutineer]

Hello people

I thought this would be a good place to enquire about life in a caravan. Simply, I have to quit my job. It's not a life. My house ties me to it. It is crazy that it costs me less per month on a mortgage than to rent a similar property.
There are 2 reasons for making the change:
1- I can retrain for another career
2- I love being outdoors and seeing as living in woodlands is prohibited, the log cabins out for now!

I live in the south near Guildford and a a separated Dad need to be in the area for my kids.
Can it be done?
Any ideas?

Nick

 

[bopdude]

Yep cheap as chips site at Lyne, it's not pretty but it serves a purpose, you can put your own on or rent one off the guy the runs it.

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[British Red]

It is crazy that it costs me less per month on a mortgage than to rent a similar property.

Not really. If you have a mortgage, you are also responsible for decor, upkeep of the fabric (pointing, roof, wiring, bathroom, kitchen, all the rest). If you rent, someone else has to pay.

 

[didicoy]

You are your own boss if you own the house. Living on a campsite, you can be made to leave at a moments notice. You have no control over your neighbours short term. Ground rent is dead money. Caravans are cold and damp in winter. I've lived in this static 34 foot caravan for over 7 years. It can be quite rough at times and space is a premium. Even more so if you will be needing bedrooms for weekend kids. Think long and hard before you do go down the caravan route. Your next partner may not wish to live in a caravan.

 

[Swallow]

It is crazy that it costs me less per month on a mortgage than to rent a similar property.

130% rules states that....

for a buy to let mortgage the Rent that can be got for a property must be 130% of what the mortgage repayment is.

 

[mutineer]

Swallow
I didn't know that. Thank you. That makes more sense now.

 

[dewi]

There is another alternative... how many bedrooms does your house have?

 

[woodstock]

Hello people

I thought this would be a good place to enquire about life in a caravan. Simply, I have to quit my job. It's not a life. My house ties me to it. It is crazy that it costs me less per month on a mortgage than to rent a similar property.
There are 2 reasons for making the change:
1- I can retrain for another career
2- I love being outdoors and seeing as living in woodlands is prohibited, the log cabins out for now!

I live in the south near Guildford and a a separated Dad need to be in the area for my kids.
Can it be done?
Any ideas?

Nick

WOOF mate food and somewhere to stay for a agreed amount of labour

 

[Tengu]

I love living in a caravan butit costs me a small fortune, is cold and limits my options.

 

[bopdude]

Can you not put a wood burner in there ? Failing that a tea light stove in the rooms is a cheap form of heat.

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[mutineer]

I have 3 rooms but they all get used. Albeit 2 of them not permanent.

 

[dewi]

I have 3 rooms but they all get used. Albeit 2 of them not permanent.

You're commutable to London, so if you buy 3 locks for the bedroom doors, you could feasibly rent out the two bedrooms... at current rates, it gives you £450 pcm per room... so for a nominal increase in bills, you get £900 pcm. Per annum that's an extra £10,800... and if the rules haven't changed, the first £4250 is tax free.

Yes you have to share your home with strangers, but you get to meet them, vet them as best you can and you can ask them for a bond (which you have to register in a bond scheme now I believe) but you can earn a decent amount.

It's tempting to think you could rent all 3 rooms out, but the problem with that is if you don't live there, the classification changes completely and it becomes a HMO (House in Multiple Occupancy)... at that point you have to abide by rules relating to room size, you need a sink in each room, a fire door on each room etc etc... it becomes a nightmare. HMOs work best in ex-guest houses where all the fire regs are already met, room sizes are fairly standard etc. etc.

If you want a real change, you can currently buy seaside ex-guest houses all over the country for a fraction of the house prices in Guildford... get something with 10 bedrooms, rent 9 of them out for roughly £360pcm each and essentially live for free and earn a living at the same time. You become a glorified cleaner, because daily you have to service the communal areas, but £38,000 a year (before expenses) isn't a bad wage for a cleaner.

 

[Swallow]

Nice line of thinking from dewi.

Mutineer I picked the 130% rule from here.

http://www.amazon.co.uk/Mortgages-M...5408557&sr=8-1&keywords=mortgages+made+simple

 

[nic a char]

try a stealth van and/or a protest site = free accommodation...

 

[nic a char]

ALL caravans can be insulated PROPERLY ie NOT as per manufacturers' specs, and a tiny woodburner with an insulated chimney will provide all your heat, hot water, and cooking energy.

 

[didicoy]

ALL caravans can be insulated PROPERLY ie NOT as per manufacturers' specs, and a tiny woodburner with an insulated chimney will provide all your heat, hot water, and cooking energy.

Why's insulated chimney? I have a good size woodburner and un insulated ( apart from where it goes through the roof) there I have a decralite flashing to prevent combustion & water ingress. I wish I had better insulation though on the walls.