Paradisefound

Well done Louise! Great website and lovely photos.

Hortons to go

Hi all, is BE not working properly? why are so many people leaving posts about education? I am more interested in a sustainable lifestyle without a mortgage.

How much money goes into bills even without a mortgage and also is there minimum wage in NS?

We are planning on working! i couldnt do nothing i'd go crazy.

Danny B

You asked us to discuss mortgage free living and the general consensus is that without a mortgage there are lots of other things to spend your money on. Childrens education being the primary.

dbd33

I terrified my children when they were not diligent by screaming at them "if you don't pass the exams you'll end up in the computer business". They'd seen me do that for years and, to them, it was like going down the pit was to us.

The point of a degree shouldn't be to teach a technical skill like programming or plumbing but to develop the mind. If it is to be used for a career then it should be something remarkable, such as doctoring; computers, car mechanics, carpentry are valuable skills but not academic ones.

Tangram

I would love to be mortgage free, but unfortunately didn't move here with a wodge of cash, so I will bow out of this, to me, depressing thread.

Hortons to go

As i have a brother who got a PHd in maths at Bath Uni and My sister got English at Oxford i understand the financial burden placed on my parents but they also had a mortgage to pay oh yes my brother was a competitive swimmer and my sister had flute and piano lessons too.

Kids are expensive as are houses, more reason to be mortgage free.

Atlantic Xpat

There's a tendancy to smugness amongst the mortgage free which can be a little galling for us mere mortals can't it?

Steve_P

Mortgage free July 1996, developed angina August 1996, quadruple bypass October 1996.

Was I glad the mortgage was paid off...you bet your boots I was.

Made the decision to retire in 1999 much easier.

Would have liked to have worked a few more years but being mortgage free meant we could afford to take the smaller pension and run.

Tangram

There are exceptions to every rule Steve mate.

macadian

Oh yes they do...in this neck of the woods its essential...other 'tongues' not required...

christmasoompa

Playing devil's advocate for a moment but what happens if those who have chosen to take their money out of the UK housing market to live mortgage free in Canada later decide to return to the UK? Presumably they're priced out of the market, or at the very least, have to live in a lesser property than they are used to?

We won't be selling here for that very reason, despite having approx £300k equity in the house which would fund a very nice house in Canada. Just wouldn't take the risk of then not being able to get back on the UK property ladder. So we're going to rent our house here.

Bearing in mind how many people return to the UK for whatever reason, I just thought it might be worth mentioning as something for people to think about. The MBTTUK forum is full of people who would love to return to the UK but can't afford it for that very reason.

bodgerx

Hortons to go

We have thought about that, we could by a flat to rent out to gives us a small top up to income and it also gives us an exit plan. We don't have anything near $300,000. I'm getting tired of comments about lucky people who go to Canada with bundles of cash. We are not in that situation. In fact we do not want 10+ acres to look after. If we can find a house maybe 15% larger than the one we are in now then we would be happy. It is so easy to get carried away and look at $250,000+ houses but some of the larger houses you would need staff to help maintain them. Unless i suddenly start playing football like Renaldo or star in a hollywood blockbuster i think i would be better placed in a modest house.

stepnek

Look at it this way: It's too expensive to live here unless you are either mortgage free or have a well paid job. Ideally you need both.

BristolUK

It's a consideration, but not being able to afford an equivalent house back in the UK has been because UK prices have outstripped Canadian prices.

It's the other way around now isn't it? Big falls and further falls expected? People who sold a year or so ago in the UK and bought in Canada, and have since decided to return, would get more for their Canadian House than they paid and need to spend less than they got a year back.

There are posts here where people have reduced their asking price by £20k to £50k
Swings and roundabouts?

Plus the 'freedom' of being mortgage free does allow you to do things you perhaps couldn't do before - making it less likely one would want to return to that. Not guaranteed, just less likely.