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I Am Sick Of It!

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I live in Reading in the south-east, and I feel trapped by the extortionate property prices.

About 10 years ago when prices were a bit lower I bought, on the advice of my dad, a property with the intention of letting it out, paying for itself.

Apart from a year or so of sharing with friends/lodging I have been stuck since then living with parents.

I had intended to buy a second property to live in, by borrowing equity from the first property, but it's looking like I will only be able to afford a small studio flat which I don't really want.

My first property as I said was intended to rent out and even though its currently empty I don't fancy living there, so am having to decide whether to rent it out again or sell it.

During the time I've had it I've had numerous problems with damp, a shortening lease (knocking 20k off the market value) and dealing with and cleaning up after tenants leave which I don't enjoy.

I have no other debts apart from this one mortgage and I am starting to question whether all debt is bad, why is a mortgage so accepted? I am a single person I don't need a stable house for a family, so why am I bothering to pay the bank so much interest every month? I am starting to question whether I'd be better off renting and saving for example £500 a month. Then one day in the future I could put a large amount down and only have a small mortgage.

I just feel really angry that an essential thing (a roof over your head and warm environment) is so unnaffordable in this society!

I still, however, have a concern over renting, I feel like many, why should I fund somebody elses mortgage or income by renting a property?

I cant seem to find an answer to this dilemma I have with not wanting a debt to anyone, but feeling like why should I indirectly pay another persons mortgage (and interest) by renting?

Is there a solution, maybe I should just buy a tent and gear, quit work, sell my property and go travelling LOL any advice/views most welcomed :)

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I live in Reading in the south-east, and I feel trapped by the extortionate property prices.

About 10 years ago when prices were a bit lower I bought, on the advice of my dad, a property with the intention of letting it out, paying for itself.

Apart from a year or so of sharing with friends/lodging I have been stuck since then living with parents.

I had intended to buy a second property to live in, by borrowing equity from the first property, but it's looking like I will only be able to afford a small studio flat which I don't really want.

My first property as I said was intended to rent out and even though its currently empty I don't fancy living there, so am having to decide whether to rent it out again or sell it.

During the time I've had it I've had numerous problems with damp, a shortening lease (knocking 20k off the market value) and dealing with and cleaning up after tenants leave which I don't enjoy.

I have no other debts apart from this one mortgage and I am starting to question whether all debt is bad, why is a mortgage so accepted? I am a single person I don't need a stable house for a family, so why am I bothering to pay the bank so much interest every month? I am starting to question whether I'd be better off renting and saving for example £500 a month. Then one day in the future I could put a large amount down and only have a small mortgage.

I just feel really angry that an essential thing (a roof over your head and warm environment) is so unnaffordable in this society!

I still, however, have a concern over renting, I feel like many, why should I fund somebody elses mortgage or income by renting a property?

I cant seem to find an answer to this dilemma I have with not wanting a debt to anyone, but feeling like why should I indirectly pay another persons mortgage (and interest) by renting?

Is there a solution, maybe I should just buy a tent and gear, quit work, sell my property and go travelling LOL any advice/views most welcomed :)

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I live in Reading in the south-east, and I feel trapped by the extortionate property prices.

About 10 years ago when prices were a bit lower I bought, on the advice of my dad, a property with the intention of letting it out, paying for itself.

Apart from a year or so of sharing with friends/lodging I have been stuck since then living with parents.

I had intended to buy a second property to live in, by borrowing equity from the first property, but it's looking like I will only be able to afford a small studio flat which I don't really want.

My first property as I said was intended to rent out and even though its currently empty I don't fancy living there, so am having to decide whether to rent it out again or sell it.

During the time I've had it I've had numerous problems with damp, a shortening lease (knocking 20k off the market value) and dealing with and cleaning up after tenants leave which I don't enjoy.

I have no other debts apart from this one mortgage and I am starting to question whether all debt is bad, why is a mortgage so accepted? I am a single person I don't need a stable house for a family, so why am I bothering to pay the bank so much interest every month? I am starting to question whether I'd be better off renting and saving for example £500 a month. Then one day in the future I could put a large amount down and only have a small mortgage.

I just feel really angry that an essential thing (a roof over your head and warm environment) is so unnaffordable in this society!

I still, however, have a concern over renting, I feel like many, why should I fund somebody elses mortgage or income by renting a property?

I cant seem to find an answer to this dilemma I have with not wanting a debt to anyone, but feeling like why should I indirectly pay another persons mortgage (and interest) by renting?

Is there a solution, maybe I should just buy a tent and gear, quit work, sell my property and go travelling LOL any advice/views most welcomed :)

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I live in Reading in the south-east, and I feel trapped by the extortionate property prices.

About 10 years ago when prices were a bit lower I bought, on the advice of my dad, a property with the intention of letting it out, paying for itself.

Apart from a year or so of sharing with friends/lodging I have been stuck since then living with parents.

I had intended to buy a second property to live in, by borrowing equity from the first property, but it's looking like I will only be able to afford a small studio flat which I don't really want.

My first property as I said was intended to rent out and even though its currently empty I don't fancy living there, so am having to decide whether to rent it out again or sell it.

During the time I've had it I've had numerous problems with damp, a shortening lease (knocking 20k off the market value) and dealing with and cleaning up after tenants leave which I don't enjoy.

I have no other debts apart from this one mortgage and I am starting to question whether all debt is bad, why is a mortgage so accepted? I am a single person I don't need a stable house for a family, so why am I bothering to pay the bank so much interest every month? I am starting to question whether I'd be better off renting and saving for example £500 a month. Then one day in the future I could put a large amount down and only have a small mortgage.

I just feel really angry that an essential thing (a roof over your head and warm environment) is so unnaffordable in this society!

I still, however, have a concern over renting, I feel like many, why should I fund somebody elses mortgage or income by renting a property?

I cant seem to find an answer to this dilemma I have with not wanting a debt to anyone, but feeling like why should I indirectly pay another persons mortgage (and interest) by renting?

Is there a solution, maybe I should just buy a tent and gear, quit work, sell my property and go travelling LOL any advice/views most welcomed :)

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I live in Reading in the south-east, and I feel trapped by the extortionate property prices.

About 10 years ago when prices were a bit lower I bought, on the advice of my dad, a property with the intention of letting it out, paying for itself.

Apart from a year or so of sharing with friends/lodging I have been stuck since then living with parents.

I had intended to buy a second property to live in, by borrowing equity from the first property, but it's looking like I will only be able to afford a small studio flat which I don't really want.

My first property as I said was intended to rent out and even though its currently empty I don't fancy living there, so am having to decide whether to rent it out again or sell it.

During the time I've had it I've had numerous problems with damp, a shortening lease (knocking 20k off the market value) and dealing with and cleaning up after tenants leave which I don't enjoy.

I have no other debts apart from this one mortgage and I am starting to question whether all debt is bad, why is a mortgage so accepted? I am a single person I don't need a stable house for a family, so why am I bothering to pay the bank so much interest every month? I am starting to question whether I'd be better off renting and saving for example £500 a month. Then one day in the future I could put a large amount down and only have a small mortgage.

I just feel really angry that an essential thing (a roof over your head and warm environment) is so unnaffordable in this society!

I still, however, have a concern over renting, I feel like many, why should I fund somebody elses mortgage or income by renting a property?

I cant seem to find an answer to this dilemma I have with not wanting a debt to anyone, but feeling like why should I indirectly pay another persons mortgage (and interest) by renting?

Is there a solution, maybe I should just buy a tent and gear, quit work, sell my property and go travelling LOL any advice/views most welcomed :)

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The Reading property sounds pretty shitty.....but more than good enough for a tenant I would think. You should borrow on the basis of this place, and on the next one, and the next one until you boast a portfolio like the Wilsons. Finally release equity to purchase a property that any landlord would die for. A mansion fit for a king from which you can revel in your business acumen and superiority.

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