So long story short. I have a self employed photography business that is in the middle of it’s best year yet. We moved to a bigger house, got kids you see, and now spring / summer is here we are loving our new life. We accept that we pay peoples mortgages and the rest. It’s the nature of the beast. I have made peace with that. My business is going so well that my wife quit her day job (part time) and has set up a little business which pockets more than her part time job did. Very proud of her.
We are (no lie) a 4 minute walk onto fields upon fields and the kids can play in streams. It’s amazing. Now we moved in here the plan was to start saving and saving so that we can buy either this house or one very close by. We can afford the mortgage but just don’t have £30k lying around.
Then today the owner of the house gives us our 8 week notice saying she wants to move back in… Wounded. Absolutely wounded. One of our kids moved school too, which was a bummer.
You know that feeling when deep down you are hard working people but get messed about. Well, this is one of them. I have been a bit of a d*ck and a downer at times but have been going through a positive mindset approach to life lately. I’ve done this through the following things: being passionate about my business. Being involved in the kids more. Getting outside and enjoying the little moments in life. Being more in the present.
Then this. Bam!
Don’t know why I posted this. Needed to get it out there I guess.
Sorry to hear it, life always throws hurdles at you and you’ve just gotta keep jumping them. On the plus side, everything else you’ve got going on sounds positive. Business is tough, and if that was struggling or failing, I think you’ve be in a much worse position.
Take that as you will, but if you can make the business succeed (which you’ve both done), then you can keep going. It’s arguably harder than anything else (beyond death and medical problems at least) that you’ll have to fight through to survive.
cheers Ian! My wife just said something similar. She says we have our health and financially we are at the best point in our lives. Just a pain in the backside that we don’t have £30k lying about. Well, looking at mortgage calculators we could do with 20k, so not much haha.
Might go see a financial advisor in all honesty. I used to work in mortgages and 100% self cert was the thing back then. That is just crazy but I have a flipping type R worth 5k easily (don’t really need it) and if this was ten years ago I’d have a better deposit than most of our old mortgage customers. Plus I could afford to buy this house now.
Situations are just so random sometimes. Not gonna get defeated over it though. Kinda needed to vent.
This is a perfect example why owning your own home is so important, but I’m sure you know that already. I’m not sure what the lending situation is where you are located but here in the U.S. you can get a mortgage with as little as 3% down payment and most of the population here still thinks you need 20% down. Have you checked to be sure there aren’t any programs where you are that allow for a smaller down payment?
Thanks for the comments. You can get a mortgage here in England with a lower deposit if it is on a house being built right now. So you are limited with where you can buy and also forced to pay the higher house prices. Before setting up my own business I worked in the mortgage industry too. Things are relaxing for self employed people but it’s not like it used to be or I would be laughing all the way from the bank right now. Probably with an even bigger house and new car haha.
I feel your pain. I had the same thing happen to me in two consecutive rental properties, where in both instances just like yourself, the landlord wanted to move back in and break the lease early. This ensued two and a half incredibly frustrating years.
The kicker was, at the time I was renting pretty run down places in an overpriced city, after being f**cked around so much, we made the impulse decision to move to the other end of the country and now have an infinitely better life style. So, for us. It was somewhat a blessing in disguise.
Looks like you have put some pieces together and are moving in the right direction anyway!
Thanks! On the random off chance I was speaking to a client yesterday. He said that he has just moved house because he got given a 2 month notice too. He looked into mortgages and unfortunately for him he couldn’t get the right multiplier of income to make it worthwhile. He also said that there was a 100% mortgage out there too!
The fact that one lender is doing 100% mortgages again means that things surely must be getting more stable. Afterall, the banks need to lend money and not everyone has got a large amount of cash in savings.
Got myself a new whiteboard coming today. Once up in my office (the box room, but it’s cool) it will have my plans and goals on it.