Do You Have a 2nd Home?
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I have just been watching Maine Cabin Masters, if you haven't seen the program they repair cabin in disrepair , the scenery is fantastic and I thought how nice it must be to have a getaway.
We never been able to afford one, nearest we got to it was when my Mum had a static caravan on the Gower for a few years.
Would you prefer a 2nd home or to go somewhere new each time ?
I'm renting now. I used to own my own house or paying mortgage then I lost my job and they wasn't much help towards my mortgage so I sold up and now I rent which I'm glad after having an accident at work and now I am on the sick and now they pay my rent...
The cost of houses nowadays are through the roof, I don't know how normal people can afford to buy. My son is moving out into rented accommodation and it's £675 per month. Which is more than 50% of his wage.
beccatavender totally agree then the young people have to get car insurance as well. Sometimes it doesn't make sense working
beccatavender that rent is nearly 200 more then my mortgage yes houses are expensive but in long run
better with value going up
beccatavender that rent is over £200 more than my current mortgage, no wonder people struggle to save for a deposit these days.
I agree but now a days you have put such a large deposit down, plus my son has only been working with his current employment for a little over a year, a lot of it be was furlough so I dont think he could get a mortgage MrsCraig
beccatavender you need a minimum of 5% for a deposit, which is ofcourse dependent on lenders as some accept 5% whereas others insist on 10 or 15%, plus sometimes if you are self employed then they will insist on a larger deposit as you are higher risk. Him only being there for a year wouldn't be an issue but him being furloughed might. I've had to do a lot of research on mortgages recently, but I'm not an expert!
Someone I know owns about five houses and two pieces of land, but he's not rich or anything. Bought it when it was cheap.
My neighbor inherited his parents house and had his own apartment though he had to sell it because he was broke. Now, he's doing good.
I couldn't afford a 2nd house! We are selling our house just now and I've had so many viewers telling me that some houses have been going for £20 grand over the home report value, so I'm amazed some people can afford a first house neither mind a 2nd!
Wouldn't mind a second home abroad where I could jet off to maybe a third in New York and a fourth in the carribean
No we don’t but our friends do. The husband worked away so they bought a house for him to live him and he came home at weekends, so not a holiday home. Then they bought their sons house because it didn’t sell. So at one point they owned three houses.
We belong to a shared ownership scheme which allows us to have a holiday in one of a few places each year so we get the best of both worlds. We can also swop with other companies to go abroad etc. We couldn’t afford to do it until recently but would have loved to do it when the children were young. It is all self catering so after the initial outlay the holidays are really cheap.
I’ve got 2 pairs of trainers. That’s all I can afford. I got one pair for daily use. And a holiday pair. 
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