Getting my moneypits in order..
For many years and a lot more than I'd like to say I've had a second house, nay a money pit, unused and sat gathering value whilst I pottered and fannied about on it with new electrics, central heating, bathrooms etc. You name it and it's probably been done to it.
Work life always consumed me. In the priority of things the second house was somewhat lower than a racing snakes belly. I was happy to pay the small gas and electric bill, some empty property insurance and the council tax. A substantial sum of money every year but I didn't have the worry of managing a house with tenants on top of everything and anyway its at least doubled in value over the last 10 years... it's my retirement plan I always said. I'll start to rent it when I retire and one day perhaps convert it into a yacht and sail the world! That was the dream anyway.
Well that day did come, in fact that was 2 years ago when work finally relinquished its grasp on my soul and in doing so significantly reduced my pay. I retired moments before my 55th birthday and hopefully before the stress of it all did any long term damage to my ageing body and mind. Stress? Yep, by the bucket load. That has now all gone. Big smiley face!
But heres the thing. Whilst I have enough of a pension to live on, to pay the bills and have an occasional holiday or two I cannot afford to do nowt with that house any more. For the last two years the local council has been raising the council tax to encourage me to let or sell. In April it will increase again to treble its normal rate. Ouch!
Now I'm on the final straight. A few more licks of paint and a new gas fire and Voila! It's time to let. I've had an agent look at it. They recon a few scheckles over 800 should see it safely let to a professional family type. Now that also I have a Rangee Rover (a 27mpg money pit) which was donated to me by my fantastic brother I need the additional income to avoid a future life on bread and water.
The only thing derailing me is the final bits of work on the 3rd and final money pit - the home extension which is well in to the first fix stage. Cycling - what's that? - is somewhere in third place at the moment. Cold wet rain is keeping me on the magnetic trainer but thats not enough. However, this years rides are definitely on hold; i'll explain why in the next post. It's something everyone on this planet is living through and is of major concern...
It'll likely make all of this, in fact everything else I have done or will ever write about insignificant going forward. I don't want to die.
Take great care my friends.
Work life always consumed me. In the priority of things the second house was somewhat lower than a racing snakes belly. I was happy to pay the small gas and electric bill, some empty property insurance and the council tax. A substantial sum of money every year but I didn't have the worry of managing a house with tenants on top of everything and anyway its at least doubled in value over the last 10 years... it's my retirement plan I always said. I'll start to rent it when I retire and one day perhaps convert it into a yacht and sail the world! That was the dream anyway.
Well that day did come, in fact that was 2 years ago when work finally relinquished its grasp on my soul and in doing so significantly reduced my pay. I retired moments before my 55th birthday and hopefully before the stress of it all did any long term damage to my ageing body and mind. Stress? Yep, by the bucket load. That has now all gone. Big smiley face!
But heres the thing. Whilst I have enough of a pension to live on, to pay the bills and have an occasional holiday or two I cannot afford to do nowt with that house any more. For the last two years the local council has been raising the council tax to encourage me to let or sell. In April it will increase again to treble its normal rate. Ouch!
Now I'm on the final straight. A few more licks of paint and a new gas fire and Voila! It's time to let. I've had an agent look at it. They recon a few scheckles over 800 should see it safely let to a professional family type. Now that also I have a Rangee Rover (a 27mpg money pit) which was donated to me by my fantastic brother I need the additional income to avoid a future life on bread and water.
The only thing derailing me is the final bits of work on the 3rd and final money pit - the home extension which is well in to the first fix stage. Cycling - what's that? - is somewhere in third place at the moment. Cold wet rain is keeping me on the magnetic trainer but thats not enough. However, this years rides are definitely on hold; i'll explain why in the next post. It's something everyone on this planet is living through and is of major concern...
It'll likely make all of this, in fact everything else I have done or will ever write about insignificant going forward. I don't want to die.
Take great care my friends.
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