What would you do? #London/#Housing/#Growingup

Hi All,

This is not the usual post but it’s somewhat linked, by way of background:

I am on the wrong side of 25 but I managed to buy a property before the boom and it has increased significantly in value and to a level which is actually unaffordable
I work in finance and am making an ok salary and can comfortable afford my mortgage
The house is 2 bedrooms and I still live with my family in our family home. my mortgage will be about 20% of my monthly salary but it could be <10% if I rent a room out
I currently rent out my house but due to my age (getting to the age where I should be looking to move out and building my own life) and the change in the tax rules it’s no longer as economical for me pay taxes but rather for me to move into it and rent a room out
If I move out I want to live with a friend rather than a stranger
my heart is telling me to leave and experience something new but my brain is telling me to stay and live at home
I am worried about being lonely living in my own home and having a roomie that I don’t get along with

I guess I wanted to ask if anyone else felt like this and what did you do? Should I take the leap of faith? I am also single and I originally planned to move out when I had a GF ... some friends have commented that I am not as outgoing because I am living at home, I would be more outgoing if I lived by myself..

Thanks in advance for any comments,

Regards and confused,
Bleached

Reply 1

Voi

Sell the house pay off your mortgage and buy a mansion up north.

Reply 2

Vikingninja

Why did you put hashtags in?

Reply 3

Bleached

Original post by Vikingninja

Why did you put hashtags in?

I thought thats what your generation did these days lol. sorry ive not been on for a while. I'm a bit older than you guys!

Reply 4

Vikingninja

Original post by Bleached

I thought thats what your generation did these days lol. sorry ive not been on for a while. I'm a bit older than you guys!

On twitter yes and whatever the other one is that also has a hashtag feature.

Reply 5

claireestelle

Original post by Bleached

Move out, you'll most likely get used to having lots of your own space in time :smile:

20% of your salary on a mortgage doesnt sound that bad at all, so you can take that time to make sure you find a good roommate.

Reply 6

M14B

I would move up North!

Reply 7

username457532

Original post by claireestelle

Move out, you'll most likely get used to having lots of your own space in time :smile:

20% of your salary on a mortgage doesnt sound that bad at all, so you can take that time to make sure you find a good roommate.

20% is ****ing nothing. I spend about 50% of my income on rent.

Reply 8

Elivercury

First I'd stop using hashtags, you're not 16.

Second I'd move out and become a proper adult rather than living at home. I suspect it will significantly improve your dating chances being able to say "want to come back to mine" rather than "want to come back to my parents? You'll need to be quiet as they are light sleepers....wait you're not allergic to dogs or cats right?".

Incidentally, as an additional piece of advice - don't move in with a friend. Living with friends is a nightmare 9/10. Advertise for the room, interview people and pick someone who is friendly and inoffensive. It is a business relationship and you want someone who will be tidy and respectful of your home, not a friend to party with.

Best of luck with the move.

Reply 9

kisaki

Agree - move out and start building your future. You're lucky to have got the house when you did and when the time comes you have the chance to make a nice little profit which you can reinvest if you ever feel like relocating.

20% is very little and rare in the current economic climate, you should take advantage. Regardless, renting out a room is beneficial but would say go with a stranger rather than a friend and keep it buisnessy so no relationships are strained ect. Moving out gives you a bit more freedom, have fun!

Reply 10

Bleached

hi guys,

thanks for the replies! I have decided to bite the bullet and move out! somewhat getting excited to fill out my own home! I think I will live minimalistly in case i change me mind and want to move back!!