Shall I buy a Motorhome?
Discussion
I’m in a bit of a rut. I’ve no real chance of buying a home even though I’ve saved about £30k so far. I don’t fancy a flat as most are not very nice and are in a rough area, with no help from the bank of mum and dad. My parents wouldn’t help me anyway.
The question is do I buy a motorhome. I’ve always wanted to travel and plan on starting hiking etc. I don’t know where to begin. I suppose budget would be around £30,000 - £40,000.
But I am open to suggestions.
The question is do I buy a motorhome. I’ve always wanted to travel and plan on starting hiking etc. I don’t know where to begin. I suppose budget would be around £30,000 - £40,000.
But I am open to suggestions.
Mr.Nobody said:
I’m in a bit of a rut. I’ve no real chance of buying a home even though I’ve saved about £30k so far. I don’t fancy a flat as most are not very nice and are in a rough area, with no help from the bank of mum and dad. My parents wouldn’t help me anyway.
The question is do I buy a motorhome. I’ve always wanted to travel and plan on starting hiking etc. I don’t know where to begin. I suppose budget would be around £30,000 - £40,000.
But I am open to suggestions.
From a financial point of view, just buy some property. Even if it's not something you really want to live in, I would buy something. I regret not doing this at an earlier age. In 5-10 years time, you'll be sat on an asset and have a lot more flexibility when you come to your next move.The question is do I buy a motorhome. I’ve always wanted to travel and plan on starting hiking etc. I don’t know where to begin. I suppose budget would be around £30,000 - £40,000.
But I am open to suggestions.
However, I freaking love motorhomes. Go for it.
jimothyc said:
From a financial point of view, just buy some property. Even if it's not something you really want to live in, I would buy something. I regret not doing this at an earlier age. In 5-10 years time, you'll be sat on an asset and have a lot more flexibility when you come to your next move.
However, I freaking love motorhomes. Go for it.
I know what you’re saying. They really are terrible property’s I don’t mind putting in the work, but not for something that’s not really going to appreciate. However, I freaking love motorhomes. Go for it.
Mr.Nobody said:
Antony Moxey said:
What makes you think you’ve no chance of buying a home?
I’m almost 40. Moved back home when I changed career and done an apprenticeship. I’ve no chance. I’ve accepted it. jimothyc said:
Bear in mind that as you get older, the term you can easily get on a mortgage will reduce. At the moment you can get a 25 year mortgage, but in a few years it will be less and that will make buying something harder.
I know, that’s why I’ve accepted it that. It’s not possible. Who wants to be paying a flat or a house into your retirement age. I’ve probably made some mistakes over the years. But I’ve never had a really well paid job, despite going to university, gaining a BSc in Software Development. Which took around 4 years working for companies for nothing to gain the experience, hoping they would keep me on. I’ve been made redundant three times, all to do with money and shareholders pulling out. About 6 years ago I decided to try an apprenticeship at 33. £4 an hour and I’m on about £30k now which I still think isn’t enough. Do you plan to live in it full time? Urban camping is being clamped down on more and more all the time now, there was a thread recently about it.
If you are living in it will you realistically be able
To travel that much if you’re going to remain working (unless you fully remote?)
If you can, then why not? Nothing has to be Permanent these days.
If not how about a park home? They seem to be very cheap
If you are living in it will you realistically be able
To travel that much if you’re going to remain working (unless you fully remote?)
If you can, then why not? Nothing has to be Permanent these days.
If not how about a park home? They seem to be very cheap
Mr.Nobody said:
But I’ve never had a really well paid job, despite going to university, gaining a BSc in Software Development.
I know people falling over each other for even basic software engineers to get hire on £50k a year. Much of it's just building code from pre existing and agile project management.Quattr04. said:
Do you plan to live in it full time? Urban camping is being clamped down on more and more all the time now, there was a thread recently about it.
If you are living in it will you realistically be able
To travel that much if you’re going to remain working (unless you fully remote?)
If you can, then why not? Nothing has to be Permanent these days.
If not how about a park home? They seem to be very cheap
I couldn’t live in it full time with the job I do. I work as a Fire and Security Engineer. Park homes are all cash unfortunately. I’ve looked at that option too. If you are living in it will you realistically be able
To travel that much if you’re going to remain working (unless you fully remote?)
If you can, then why not? Nothing has to be Permanent these days.
If not how about a park home? They seem to be very cheap
sherman said:
Have you considered living in a narrow boat?
Not sure your question was to me, but when I did live in a camper for a while I did look into the costs of a narrowboat and they're not far behind the cost of a proper bricks rental in the north, once you factor in mooring fees, taking it out of the water for periodic hull ltreatment to stop the metal bits turning into tin worm and the wood bits turning to pulp, insurance, fuel, services, etc.There are a number of 'vlog' youtube channels about the truth of living full-time on a narrowboat from people who actually do it. As you can probably imagine, it's nothing like the 20yr old cute influencer types on Tiktok would have you believe - same for #vanlife and #staticcaravanlife. I'm not sure which will empty your wallet faster : narrowboats or static caravans. I think the latter still have the edge.
Mr.Nobody said:
jimothyc said:
Bear in mind that as you get older, the term you can easily get on a mortgage will reduce. At the moment you can get a 25 year mortgage, but in a few years it will be less and that will make buying something harder.
I know, that’s why I’ve accepted it that. It’s not possible. Who wants to be paying a flat or a house into your retirement age. I’ve probably made some mistakes over the years. But I’ve never had a really well paid job, despite going to university, gaining a BSc in Software Development. Which took around 4 years working for companies for nothing to gain the experience, hoping they would keep me on. I’ve been made redundant three times, all to do with money and shareholders pulling out. About 6 years ago I decided to try an apprenticeship at 33. £4 an hour and I’m on about £30k now which I still think isn’t enough. There are swathes of the country where £30k deposit and £30k income would get you a modest house or flat in an OK area.
I get the appeal of a camper, but spending £30-4k on a rapidly depreciating, expensive to run, only used at holidays vehicle when by your own admission you're not in a great financial place doesn't seem a sensible thing to do...
(I say that as a campervan owning, charity employee with less resources and wealth than many my age)
Mr.Nobody said:
Antony Moxey said:
What makes you think you’ve no chance of buying a home?
I’m almost 40. Moved back home when I changed career and done an apprenticeship. I’ve no chance. I’ve accepted it. 30k spent will one day all be gone. You'll then be faced with paying way over a mortgage monthly cost in rent outgoings.
cliffords said:
I think others have said it .
If you buy a motorhome for £30k. It will cost you a couple of thousand each year in upkeep. After 10 years it will be worth nothing . You will have spent your money and it will be gone . You will be homeless.
If that happened, surely you would just buy another motorhome ?If you buy a motorhome for £30k. It will cost you a couple of thousand each year in upkeep. After 10 years it will be worth nothing . You will have spent your money and it will be gone . You will be homeless.
I think you need to decide what your priority is - if it is somehow securing a home then focus on that and forget about a motorhome. If a home is something you really want then sit down and make a plan for what you need to make that happen, whether that is move, save, change jobs etc. You have a really decent deposit so work with some lenders as to what your borrowing could look like.
My nephew is only 22 and in late stages of apprenticeship and he's actively looking for a house - no help from anyone (caveat, we are in Wales, his budget is 160k and that gives you choices).
That said, if you are resigned (or not willing to put effort in) to getting a home, it's not the end of the world. If instead your priority is lifestyle - the ability to explore UK/Europe in a van, go off on weekends, freedom etc then a van can be a great choice. If this is your decision then you need to consider what level of comfort you want. We went from a converted T5 (which was great and easy to just get out and about) for prob 8/9 years to a motorhome earlier this year. We're late forties, wanted more comfort and room for 3 dogs. Been away a few times and it's so much easier than the T5 but routes need more planning as narrow lanes can be fun!
30-40k easily gets you into something 2010 onwards, and unless you are unlucky with bills (like any van) annual costs are pretty low (for us, 300 odd in insurance, occasional service and just had some welding done to get through MOT (£180) but it is an 06 plate which cost 23k). Not a great time of year to buy, but to counter someone elses comment vans typically hold their value well - certainly better than cars for example though can take a while to sell.
In summary, decide how you want to spend the next few years, make it a goal and work out how to make that happen.
My nephew is only 22 and in late stages of apprenticeship and he's actively looking for a house - no help from anyone (caveat, we are in Wales, his budget is 160k and that gives you choices).
That said, if you are resigned (or not willing to put effort in) to getting a home, it's not the end of the world. If instead your priority is lifestyle - the ability to explore UK/Europe in a van, go off on weekends, freedom etc then a van can be a great choice. If this is your decision then you need to consider what level of comfort you want. We went from a converted T5 (which was great and easy to just get out and about) for prob 8/9 years to a motorhome earlier this year. We're late forties, wanted more comfort and room for 3 dogs. Been away a few times and it's so much easier than the T5 but routes need more planning as narrow lanes can be fun!
30-40k easily gets you into something 2010 onwards, and unless you are unlucky with bills (like any van) annual costs are pretty low (for us, 300 odd in insurance, occasional service and just had some welding done to get through MOT (£180) but it is an 06 plate which cost 23k). Not a great time of year to buy, but to counter someone elses comment vans typically hold their value well - certainly better than cars for example though can take a while to sell.
In summary, decide how you want to spend the next few years, make it a goal and work out how to make that happen.
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