Its my birthday next month, I shall be 23. My mum keeps on badgering on at me about mortgage and moving out. However there is only me and I have, car to run and sox. Its something that's starting to worry me slightly as I know I am only 23 but I will have to move out sometime lol. Has anyone.. moved out on the rents to their own place, with having a car and a high maintance horse? If you have how did you manage it?
Moving out of family home, paying for car and horse?
- Thread starter lauren123
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I'm 25 and still live at home. I don't run a car anymore so just pay for ale and rent to parents. I've been saving like crazy for what seems like forever to get a deposit together, we have 30k between my bf and I but still no idea how we will buy!
I never went back home after Uni but had a reasonable job so rent and then mortgage were okay. I got a lodger for my first flat to help pay the mortgage.I can't imagine how I could have afforded a horse then though. Even on a graduate salary and with houses much cheaper than these days. It's really tough for young people nowadays I think.
Can you pay some rent at home? Would that help a bit? Or talk to your mum seriously about your finances and options and ask her to help you plan how and when you can get a place of your own or find a house/flatshare. When my OH first left home he could only afford a room in a shared house in a very crappy part of town. But he was ok with that and it let him save for a deposit.
Can you pay some rent at home? Would that help a bit? Or talk to your mum seriously about your finances and options and ask her to help you plan how and when you can get a place of your own or find a house/flatshare. When my OH first left home he could only afford a room in a shared house in a very crappy part of town. But he was ok with that and it let him save for a deposit.
I don't know how I'd have managed a car and a horse and a mortgage when I left home at 24! Lol it was hard enough - we took a big mortgage on tho. We both had good jobs - but money was still tight. We didn't have much saved either! I think KP's idea is good - talk to your mum and maybe offer to pay board?? Unless you already do? ( I did) but when I made advances to moving out my parents let me off board so I could put some money together for furniture etc.
Don't get too fixated on buying a place either. Lots of people rent - buying isn't the be all and end all. It depends on whats right for you atm. A good friend of mine didn't get on with his parents and they more or less forced him to leave at 23 - he was not earning enough alone to buy a house. But, he ended up propising to his then girlfriend and they married and bought a house together. It all fell apart pretty quickly and they went their separate ways. That was not good and looking back he'd have been wiser to rent alone than get into an unhappy partnership.
Don't get too fixated on buying a place either. Lots of people rent - buying isn't the be all and end all. It depends on whats right for you atm. A good friend of mine didn't get on with his parents and they more or less forced him to leave at 23 - he was not earning enough alone to buy a house. But, he ended up propising to his then girlfriend and they married and bought a house together. It all fell apart pretty quickly and they went their separate ways. That was not good and looking back he'd have been wiser to rent alone than get into an unhappy partnership.
I didn't get a horse until I was 50 and had nearly paid off my mortgage.
Umm I did - I never moved home after uni and bought a horse the year after I finished uni. We had a mortgage straight away after uni....
But me and my then boyf (now hubby) have been joint financially since uni, which meant we could afford to both run cars, own a horse and have a mortgage (tho we had a 100% mortgage back then so no need to save for a deposit). We were lucky in that we both earnt enough to pay for everything. I was a graduate trainee and had big pay rise jumps at each qualification stage, my hubby was a self employed electrician back then.
Though saying all of the above I worry for people now, everything is so expensive and earnings don't really match. If you live with a partner it is do-able but individually it seems impossible. I have quite a few friends still living at home at 27 due to not financially being able to move out
But me and my then boyf (now hubby) have been joint financially since uni, which meant we could afford to both run cars, own a horse and have a mortgage (tho we had a 100% mortgage back then so no need to save for a deposit). We were lucky in that we both earnt enough to pay for everything. I was a graduate trainee and had big pay rise jumps at each qualification stage, my hubby was a self employed electrician back then.
Though saying all of the above I worry for people now, everything is so expensive and earnings don't really match. If you live with a partner it is do-able but individually it seems impossible. I have quite a few friends still living at home at 27 due to not financially being able to move out
I didn't get a horse until I was 34, had 2 children, a good job and mortgage. I left uni at 21 with over £4000 worth of overdraft debt which I had to pay back and then save for a deposit for a house. I didn't move back home after uni, I lived in a house share until I moved in with my boyfriend (now husband) and we bought our house when I was 26. It took me longer to save, but I really couldn't bare the thought of moving back home.
There are ways of supporting yourself and leaving home. You can share a mortgage with either a partner or friends, rent a room somewhere, get a second job or get another job that pays more. Although at the end of the day, horses are always going to be expensive and you may need to make the choice about what is more important. Having a horse or having a house?
There are ways of supporting yourself and leaving home. You can share a mortgage with either a partner or friends, rent a room somewhere, get a second job or get another job that pays more. Although at the end of the day, horses are always going to be expensive and you may need to make the choice about what is more important. Having a horse or having a house?
I was kicked out of home at 17 so had to fend for myself and a horse and car were obviously completely out of the question. Couldn't afford a horse until I was 36!
Things were tough enough when I started out in the 90s and they're tougher now - I think it would be a huge struggle for a young person to pay for a mortgage, horse, car and bills, unless of course you're lucky enough to have a well paid job or extremely generous parents!
Things were tough enough when I started out in the 90s and they're tougher now - I think it would be a huge struggle for a young person to pay for a mortgage, horse, car and bills, unless of course you're lucky enough to have a well paid job or extremely generous parents!
Maybes not ideal but couldn't you look into having a sharer for your horse that way it would cut your horsey outgoings without you having to let him/her go. Another idea although I know it wouldnt suit everyone, I know someone who's moved out alone and bought a gorgeous static caravan with 3 bedrooms a bathroom a en- suite,utility,kitchen, living area and dining with French doors( I didn't realise they could be so nice) she's on a really nice site too, yes maybes not a long term family home but she wanted to be in the area her family were in and her options were very limited and she decided to opt for the static rather than rent. x
Some of those statics are amazing! But, some sites only allow certain age groups to purchase. Round here you can only buy one if you are over 50 - but of course there are others for other ages.
Only problem is they only last for a certain amount of years, then you have to get another. That's ignoring the fact that they depreciate in value unlike a brick built house.
I'm 27 (eek!) and moved back home to save up for a deposit after uni. I'm going stir crazy, however I'm in the same boat financially - only I run half a lorry, a car and 2 horses. I'm grateful that we have our own land, and our liveries essentially cover the cost of feed for our 3 horses, but I still have insurance, farriery, vets, competition entry fees and travel to consider.
It so depends on where you are living, what sort of property you will rent, whether you are working or studying and how high maintenance your horse is, whether you can keep him at your rental property or have to agist/board him somewhere etc
When I first moved out of home I was living rural, so the property was cheap, and had a couple acres so I could keep my animals cheaply (didn't have a horse at the time), was only a student and working casual jobs so not much money but cost of living was low.
I then moved to the city (across the other side of the country too) so rent is so much higher, especially now I rent acreage within 1 hour of the CBD where I work. Although I earn more money it has been five years of pay rises before I could really afford to keep a horse, although I guess if I didn't have my goats I could have had a horse a few years ago. They aren't a cheap hobby unfortunately. Between feed if they are high maintenance (thankfully mine is a land whale), lessons, feet,teeth, and agistment. I couldn't afford mine if he was high maintenance or if I had to have him on agistment.
When I first moved out of home I was living rural, so the property was cheap, and had a couple acres so I could keep my animals cheaply (didn't have a horse at the time), was only a student and working casual jobs so not much money but cost of living was low.
I then moved to the city (across the other side of the country too) so rent is so much higher, especially now I rent acreage within 1 hour of the CBD where I work. Although I earn more money it has been five years of pay rises before I could really afford to keep a horse, although I guess if I didn't have my goats I could have had a horse a few years ago. They aren't a cheap hobby unfortunately. Between feed if they are high maintenance (thankfully mine is a land whale), lessons, feet,teeth, and agistment. I couldn't afford mine if he was high maintenance or if I had to have him on agistment.
I brought Bo when I was 19 and he got everything he needed and way more, my then boyfriend and I brought a flat about 18 months later (the mortgage was cheaper than renting) and to afford my half Bo's budget had to be slashed So I changed they way I kept him to be more cost efficent and he actually flourished. I was and still am running cheaper cars to feed the horsey habit.
I moved in to s house share at 18. Cheaper than renting on my own plus not so lonely as being young it can get lonely on your own every night.
I have an amazing OH who let's me spend my very good wage on the boys with minimal input to the house bills. I do pay the rent on our married quarter plus my car. My dog and my bills.
But it is really hard for kids today.
I have an amazing OH who let's me spend my very good wage on the boys with minimal input to the house bills. I do pay the rent on our married quarter plus my car. My dog and my bills.
But it is really hard for kids today.
I moved in to s house share at 18. Cheaper than renting on my own plus not so lonely as being young it can get lonely on your own every night.
I have an amazing OH who let's me spend my very good wage on the boys with minimal input to the house bills. I do pay the rent on our married quarter plus my car. My dog and my bills.
But it is really hard for kids today.
I have an amazing OH who let's me spend my very good wage on the boys with minimal input to the house bills. I do pay the rent on our married quarter plus my car. My dog and my bills.
But it is really hard for kids today.
I earned every riding lesson, livery etc, started at RS at 11 got job there at weekends plus two nights a week in a service station serving fuel to pay for the keep of my horse.Left home at 18 and rode and worked for rides through university and initially working in London with lots of part time jobs. Bought my first house in Liverpool at 25 thanks to 100% mortgage and job move and have traded up and up with several moves.Many times I couldn't afford a horse but usually found one to ride if I couldn't afford to own, even if just as an exercise rider
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