Around a year and a half ago, I wrote about rental properties being a waste of money. However, here we are again. Nathan and I have moved back in to a rental property. You could call me a hypocrite, however I still stand by everything I said.
I still hate the thought that we’re paying someone else’s mortgage. But our situation has changed, Nathan’s changed jobs and is now self employed. Things are going great, but it is also much harder to secure a mortgage when you’re newly self employed. Number one, your income isn’t guaranteed. Even if you know you have 2 or 3 years worth of work ahead of you, Mr Lender can’t give you £100,000’s without proof of a steady income. Which brings me to point number two. You need at least two years of solid books (accounts) before they even consider borrowing you any money what-so-ever.
Although we have saved towards our deposit, we couldn’t see ourselves living in parents houses for another two years. Both being adults who’ve lived in their own space before proves it difficult moving home to parents, I will admit it. Our parents have been amazing, and we’re SO thankful for everything they’ve done for us over the past 18 months or so. Well we’re always thankful for everything they do for us. But even more so for having us back home.
When a family friend got in touch to say that his flat will be up for grabs, it was an easy decision. It’s less than a 10 minute walk for me to get to work, which means that in time were going to sell my car and get myself insured on Nathan’s car. There’s no point us having two cars sitting on the road while Nathan uses the van for work. Nathan’s brother has also moved in with us as its two bedrooms, so he can help with the bills and we can carry on putting some money away.
I guess what I’m trying to say is it’s going great for us. I’m not hypocrite; it’s working for us, for now. It may not always be practical, but you have to do what’s right for you.
ps if you have any home interior inspo, hit me up cause I love that shit.