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wish I could afford one

Who Here Has A Plan B

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I came to HPC back in 2007 when I was trying to securely house my family and realised as a person on an above average salary that I couldn't achieve it - thus my forum name. I've been posting on and off for 7 years now and today I am no more likely to be buying a UK house (I'm actually looking for a family home rather than a house) than I was back then. There is however now a big difference - back then I couldn't afford it where now I refuse to buy somebody's over valued pension at the expense of my own financial future.

I'm always one for Plan B's and so I've also tried to protect myself and my family with one of these. For me that is rapid financial independence giving me the option of early retirement anywhere including emigration. With a fair wind I'm 3 years from that. Today Malta or Southern Italy are our likely new homes. We'll rent initially just in case our current research and visits have missed something. Then we'll put down roots including a home purchase for cash.

Does anyone else have a Plan B or are you going to sit tight and rent until a HPC?

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I came to HPC back in 2007 when I was trying to securely house my family and realised as a person on an above average salary that I couldn't achieve it - thus my forum name. I've been posting on and off for 7 years now and today I am no more likely to be buying a UK house (I'm actually looking for a family home rather than a house) than I was back then. There is however now a big difference - back then I couldn't afford it where now I refuse to buy somebody's over valued pension at the expense of my own financial future.

I'm always one for Plan B's and so I've also tried to protect myself and my family with one of these. For me that is rapid financial independence giving me the option of early retirement anywhere including emigration. With a fair wind I'm 3 years from that. Today Malta or Southern Italy are our likely new homes. We'll rent initially just in case our current research and visits have missed something. Then we'll put down roots including a home purchase for cash.

Does anyone else have a Plan B or are you going to sit tight and rent until a HPC?

Why not buy a house in a cheaper part of the country - like Wales?

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Is living abroad that cheap........property taxes, health, travel costs, just not really knowing the crack and overpaying for everything.

I have reasonable knowledge of how to live cheaply in the UK (other than the cost of houses). Seems a lot of expats exhaust their savings and then come home.

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Southern Italy or Wales would be on my list too. Another idea would be to find somewhere more remote. Folk on here say old England is not that overpopulated, quoting statistics, but I like to take a pictorial view (e.g. google "earthlights") to get a true perspective.

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Why not buy a house in a cheaper part of the country - like Wales?

Because it's Wales.

I did a plan b thread a while back in off topic. I have given up. Life is going to become increasingly hard and buying a house will not make any difference to that. The 'sacrifices' made in building up a small capital buffer were not worth the effort and I hope that as those savings dwindle I find something to get some worth out of them.

I now only have a long term objective although there are a couple of short term milestones. Other than that all bets are off personally and professionally. I could 'retire' tomorrow (via no efforts of my own) and lead a peasant lifestyle scratching out a living off the land but that doesn't fit in with my long term objective. In the meantime it's limbo.

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Why does it have be Wales....plenty off cheap properyt north of the Wash along the east coast from Lincolnshire onwards. At least you get the UKs social capital, welfare backstop and can speak the language.

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Is living abroad that cheap........property taxes, health, travel costs, just not really knowing the crack and overpaying for everything.

I have reasonable knowledge of how to live cheaply in the UK (other than the cost of houses). Seems a lot of expats exhaust their savings and then come home.

DYOR of course but...

Property taxes. Malta has no Council Tax. Italy Real Estate and Rubbish tax far less than what I pay in Council Tax for a house instead of a flat.

Health. Italy 5 years of residence and you get free access if EU. Get there early in life and you won't pay that much over that period. Malta then you need to pay until state pension age.

Travel costs. It's your new home so you're not coming back to the UK.

Why overpay? If it's expensive look for alternatives.

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Is living abroad that cheap........property taxes, health, travel costs, just not really knowing the crack and overpaying for everything.

I have reasonable knowledge of how to live cheaply in the UK (other than the cost of houses). Seems a lot of expats exhaust their savings and then come home.

From personal experience, living abroad can cost a lot less than living in the UK as long as you ditch the UK lifestyle. I get more of a buzz from living a rural French lifestyle than living the former consumerist UK lifestyle that I used to live and the bonus is that I can do it at half the cost and with the benefit of having a decent sized property with land that would be unaffordable in the UK. I am sure that if I lived back in the UK I would fall back into the lifestyle where spending money on cr@p became part of my way of life again because that is just the way it is there and resistance is not that easy.

Edited by campervanman

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Plan A was buying a starter home in a crappy area back in early 2006 (before my awakening :-)

Plan B was managing to escape Plan A with a small loss, and managing to build up a good deposit / enough to buy a small house outright,

Plan C was to escape this crappy Country to Ireland

Plan D was moving back from Ireland to somerset, which so far has been the mose sucessful move so far. We intend on buying a house in the next 6 months and starting a family next year.

There is no plan E, so if it all goes tits up I will have to re-evaluate life and start again from scratch.

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Because it's Wales.

I did a plan b thread a while back in off topic. I have given up. Life is going to become increasingly hard and buying a house will not make any difference to that. The 'sacrifices' made in building up a small capital buffer were not worth the effort and I hope that as those savings dwindle I find something to get some worth out of them.

I now only have a long term objective although there are a couple of short term milestones. Other than that all bets are off personally and professionally. I could 'retire' tomorrow (via no efforts of my own) and lead a peasant lifestyle scratching out a living off the land but that doesn't fit in with my long term objective. In the meantime it's limbo.

Interesting that you've seen exactly the opposite to me. Part of my strategy was to cut costs rapidly which included heavily opting out of consumerism. My experience is that since doing this our health and happiness is better than it ever was.

Additionally as my wealth has accrued I'm seeing the life getting easier right in front of me. Sure I've worked very hard over the past few years to maximise earnings but for me it's been very worth it.

How long did you stick with the 'sacrifices'? Do you think you gave it a fair chance to become the 'norm' before assessing worth?

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Why does it have be Wales....plenty off cheap properyt north of the Wash along the east coast from Lincolnshire onwards. At least you get the UKs social capital, welfare backstop and can speak the language.

I said - 'like Wales,' meaning, 'for example, Wales.' I didn't include any other places because I am more familiar with house prices in Wales.

Since 7 year itch has denigrated my motherland, i am happy that we now know that his itch is down to thrush. (a thread on the OT forum).

I like Lincolnshire by the way.

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From personal experience, living abroad can cost a lot less than living in the UK as long as you ditch the UK lifestyle. I get more of a buzz from living a rural French lifestyle than living the former consumerist UK lifestyle that I used to live and the bonus is that I can do it at half the cost and with the benefit of having a decent sized property with land that would be unaffordable in the UK. I am sure that if I lived back in the UK I would fall back into the lifestyle where spending money on cr@p became part of my way of life again because that is just the way it is there and resistance is not that easy.

I'd agree with that. My research suggests that once you're not dependent on working for The Man then there are a lot of places in Europe where you can live very well for very little. For example Malta has a gross average wage of only around EUR1,311 per month compared to the UK at EUR2,600 or so.

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I know Italians from Southern Italy who can't wait to 'escape' and move to UK.

Funny old world.

(Italian economy/govt; Albanian immigrants, local economy, olive oil, long list of reasons why they hate it)

Edited by R K

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I know Italians from Southern Italy who can't wait to 'escape' and move to UK.

Funny old world.

And lots of north Africans who can't wait to get into southern Italy.

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Interesting that you've seen exactly the opposite to me. Part of my strategy was to cut costs rapidly which included heavily opting out of consumerism. My experience is that since doing this our health and happiness is better than it ever was.

Additionally as my wealth has accrued I'm seeing the life getting easier right in front of me. Sure I've worked very hard over the past few years to maximise earnings but for me it's been very worth it.

How long did you stick with the 'sacrifices'? Do you think you gave it a fair chance to become the 'norm' before assessing worth?

A decade? Admittedly not to the extreme you document but nevertheless it was not an insignificant effort.

There was only ever a plan A of assessing worth and that was to buy a house. For a while, 2009-2012, it was worth doing but from the start of 2013 it has been pointless and my wife and I are on diverging vectors.

She is still in plan A and mindful of increasing prices hence increasingly desperate,

regardless of value. And I am on to Plan B as described. I'd rather burn it all than partake.

The funny thing is that it is she who provides the key to the simple retirement but will not grasp that particular nettle.

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I know Italians from Southern Italy who can't wait to 'escape' and move to UK.

Funny old world.

(Italian economy/govt; Albanian immigrants, local economy, olive oil, long list of reasons why they hate it)

I guess everyone is chasing something different in life. If they need to work to feed their family then I can understand why they're looking for out.

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I said - 'like Wales,' meaning, 'for example, Wales.' I didn't include any other places because I am more familiar with house prices in Wales.

Since 7 year itch has denigrated my motherland, i am happy that we now know that his itch is down to thrush. (a thread on the OT forum).

I like Lincolnshire by the way.

I grew up in an area of Wales where only 18 months ago you could buy a 3 bed family home identical to the one I grew up in for £50,000.

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I'd agree with that. My research suggests that once you're not dependent on working for The Man then there are a lot of places in Europe where you can live very well for very little. For example Malta has a gross average wage of only around EUR1,311 per month compared to the UK at EUR2,600 or so.

Campervanman is not working for the man, he is by pension implication, the Man.

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I've given up on plans. We are living in an age of increasingly arbitrary authority in which two clicks of a bureaucrat's mouse can make a life of hard work and sacrifice worthless in milliseconds. I'm just enjoying my day-to-day work (yes, really), enjoying time with my girlfriend, and signing as few pieces of paper as possible. I don't believe a single thing I am told by a government, a bank, a pension provider or anybody involved in real estate. I used to think about having kids, now I can see they would just be used against me by governments and employers to make me work harder. If you pretend to throw the ball too many times, the dog stops chasing. That's where I am now.

Edited by Dorkins

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I grew up in an area of Wales where only 18 months ago you could buy a 3 bed family home identical to the one I grew up in for £50,000.

My daughter bought a similar property - terraced - for 62k in 2011. It is probably around 100k now but she doesn't want to move, couldn't afford to anyway, and there's going to be a fall back to 2011 levels quite soon IMO.

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