If fulltiming goes wrong have you got backup funds ? Forums

sophiesmum

Cheers Stew on the advice of starting this on a new thread Very Happy

Hi all

My husband and I are looking at fulltiming for a year or two to travel Europe and a few other selected countries.

We are selling our house to do it and want to know if you all have loads of money in the bank as a backup in case it all goes wrong and you need to start again in a conventional house.

Also what highs and lows should we expect on the way. 2 year old daughter with us and complete novices with no experience. God what a combination.

Cheers, Sophies mum Very Happy

hilldweller

Sounds more a nightmare than a dream.

At first, before "2 year old daughter" I was thinking "few years round europe, spend Sophie's inheritance and die. But you probably aren't that old.

So, no job, sell house ( we've no idea how much equity you have in it ) blow the cash round Europe, which isn't cheap.

Then what ?

Sounds daft to me.

sophiesmum

Hi Hilldweller

Thanks for your frankness, this is the sort of reality we need. We have talked for years about moving to Europe to live because of the way of life being better (we believe) and thought this was the kick we needed to give it a go. We'll have enough to buy a motorhome and small car, travel for 1-2 years and still have a good deposit for the area we are in now if we need to come back and start again.

We're also hoping the motorhome won't lose too much value over such a short time if needed.

My husband doesn't recall who said it but is living by the words 'People are living their lives as if they've got a spare in the bank and they haven't'.

We also don't want to get too old to be able to do it and still be saying 'What If'.

Cheers, Sophies mum

Confused

RedSonja

Sophiesmum

Live the dream and go for it - You will always regret it if you dont. You never know what tomorrow will turn up. No real advice except for try and save a little if you can for emergencies and enjoy.

Sonja

carol

Hi Sophie's Mum

Personally I wouldn't do it without some backup

I'm on pda so typing is tedious but from 2 friends experiences to go by - it is to me plainly daft

1 One sold up went to work in Lisbon - after 2/3 years came back - it was early 70's and gazumping and prices went mad - like 200% or more - they were stuck with 2 small children

2 A year ago friends who live in the campo nr Alhurain el Grande in Spain - fell down stairs (stone) on New Year's Eve - lunchtime - carrying suitcases upstairs having arrived at his son's - he was in a coma for 8 weeks and is brain damaged - but no home in UK meant they got him back to UK for treatment but his wife had to rent flat - buy a car - they were living abroad as it was too expensive here - caused loads of probs - it looked like they wouldn't be able to go back - but he is now doing well - but it highlights the problems - we never know what is around the corner

3 There was also a member on here who's RV caught fire and they lost everything - although they were alright - there was even a collection for them

Buy a flat and let it - but don't get out of the property market

Carol

geraldandannie · Moderator

Hi Sophiesmum, Sarahsdad here Wink

If anything, the time to do it is now. Sophie will enjoy the experience, and you have 2-3 years before you need to decide whether to enrol her in mainstream school or home educate.

I would imagine that you're younger than us, and could get back into full time work and property if you change your minds later on.

So yes, follow your dream - if you don't, you might wish you had at some point.

Gerald

johnandcharlie

I sold my house last year, and as I didn't have a mortgage, have the cash available to buy another house whenever I want or need to. I am sort of looking for a new home, but while house prices are falling am in no hurry. It looks like prices will be falling for a few years, so I can live off the interest from the sale, and still have the capital available to buy a similar or maybe better house in the future. I'm keeping an eye on house prices, and if I feel uncomfortable can change my plans quickly.

It wouldn't be so easy with a house to sell now, and if I'd had a mortgage. I've only got two mouths to feed (one human, one canine), and I'm staying in the UK so may be doing a lower mileage.

I'm not working, and haven't in the 11 months I've been fulltiming. Other fulltimers do work, for some of the time anyway, and there may be places you could do voluntary work in return for free parking and food (I've done a couple of weeks of that). You'll probably find that you end up doing things differently to how you intended before you started.

Hope that helps.

billym

Property ? Back up ? NO

but what the heck............... enjoy it while you can.

supercat

Hi Sophiesmum,
Life is short, do everything you are capable of doing, the future is unknown, wot we do today determines the future, if this is something you,ve always wanted to do then do it while you have the opportunity to, your daughter is 2yrs leave it any longer and she,ll be at school and you might miss the chance.
Yes, you might have to start again, but if your not happy with wot you have now it can only be better. Good luck.