On the pros and cons of having one place as yer base that you own (compared to renting)

in LeoFinance2 years ago

So I've been quite happily renting my thoroughly pleasant basement flat in Ramsgate for 5 weeks now, and been without a permanent base for almost three months.

I quite like the feeling of temporary flux TBH and it's rational to stay in it for several months, maybe years, more - given the economic uncertainties and the fact that the gf could get a job anywhere in the country or we might go live abroad for a time.

However there are a few massive downsides to no having one base in which I'm going to stay permanently....

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All that stuff waiting to be moved!

Now that I know I'm remaining in the UK it means it's worth my while accumulating (or re-accumulating in the case of some objects) and I've started....

Toaster, frying pan, duvet.... it's mounting up - but the more stuff I get the more stuff I will need to lug about potentially from house to future house until I'm finally settled.

Although on the plus side I guess this prevents me from accumulating too hard and fast!

No capacity to invest to save

The second major disadvantage is that I can't start ploughing money into things like solar panels and insulation to help bring down the cost of living.

I quite fancy tinkering with some off grid ish solutions to help with the cost of living crises but I can't.

Then again my rent is relatively cheap given that it includes bills!

No garden to plant!

One thing I really miss about not owning the place I live in is not being able to plant my own food - especially longer lived trees and shrubs.

However I guess I could solve this by just buying some land seperately somewhere - It is highly unlikley that I'll ever be able to afford a property with signifant land of > one acre.

Missing out on capital gains...?

At this particular historical moment this might actually be an advantage as I am expecting interest rates to carry on increasing and property prices to probably fall!

Final Thoughts - more ups than downs to 'not' owning atm..?

Probably I was born lucky, after all!

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Without a permanent place, got to stay minimalist 😀

Nothing wrong with that!

One thing I really miss about not owning the place I live in is not being able to plant my own food - especially longer lived trees and shrubs.

Trees and shrubs aren’t an option in your place, but container gardening for veggies and herbs probably is. We grew a huge amount of cherry tomatoes in containers this year.

At this particular historical moment this might actually be an advantage as I am expecting interest rates to carry on increasing and property prices to probably fall!

Yeah, probably so. Some places are temporarily bucking the trend; prices have lately surged in Miami for instance. But when it turns, current buyers are likely to get burned bad.

Actually containers are a great idea... I might wait for a year or so until I've got more of an idea of what's coming next, and then start some bushes off to give them a head start!

Blueberries do well in containers I know!

Getting a little grow up for inside to grow a little vegetables could be an option. Tomato plants can be grown indoors and aren't that big nor need much attention.

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