good idea?

N

nicci_s

New Member
Do you think it is a good idea to sell your house (worth about £60,000 profit) to fund a season in ibiza, go travelling and then start anew somewhere like manchester? Belfast is boring the tits off me and ive no job here so....
 
Honestly? No... possibly the worst idea you could have.

Start a new life, put all you money back in bricks and mortar (apart from a little enjoyment fund). While its all going through, go and spend time some time in ibiza, but when your money has gone... come home. its easy to spend over a grand a week in ibiza. Even easier if its burning a hole in your pocket.

My 2 penneth... not that anyone gives a monkeys!
 
Bricks and mortar eh, dont any of you think its all going to fall on its arse and everyone is going to be left paying massive mortgages on houses that arent worth all that much?
 
that happened to me once, but back in those days it was called negative equity.

how times change. i just spent the same amount on a car as i did on my first house 25 years ago. haven't said that the house couldn't do 0 to 60 in under 10 seconds.
 
nicci_s said:
Bricks and mortar eh, dont any of you think its all going to fall on its arse and everyone is going to be left paying massive mortgages on houses that arent worth all that much?
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The key is to buy in the right location so if it does crash it will eventually pick up again and in the meantime you are happy where you live. As long as there is a strong employment rate in the area i.e city centres, the demand for housing will be strong so I wouldn't worry about lossing money if you choose the location carefully.

60k - If that were me i'd defo be going to Ibiza but as previulsy mentioned, you'd be crazy not to invest the majority. 8)
 
just for the record, we havent as yet sold our house or put it on the market. These are all just ideas at the minute and possibly just silly talk but i just cant get it out of my head at the moment.
 
Do both, re-mortgage and release some of the equity,rent out your property for a year while you`re out in Ibiza, enjoy the Summer (not too much);),then during the off season why not look to setup or rent/lease a business out there?
 
Strike a balance! I hate listening to investor bores! :lol:

I did it and didn't regret it for a second! - but don't spend it all! Just go around the world for a year with £20k - then you'll be all inspired, refreshed and ready for a life change when you get back. All sounds very exciting to me. 8)
 
Robder said:
Strike a balance! I hate listening to investor bores! :lol:

I did it and didn't regret it for a second! - but don't spend it all! Just go around the world for a year with £20k - then you'll be all inspired, refreshed and ready for a life change when you get back. All sounds very exciting to me. 8)
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Oh and sod going to Ibiza with it.

I've been there 8 times and will still go back most years - so will you...it's a big old world out there. For Christ's sake broaden your horizons, explore the east and discover new wildlife/cultures...you'd be crazy to spunk it all in the Balearics.
 
nicci_s said:
Bricks and mortar eh, dont any of you think its all going to fall on its arse and everyone is going to be left paying massive mortgages on houses that arent worth all that much?
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Interesting you said that because that is already happening in Dublin,prices were getting so high that many people were priced out of the market so simply couldn't afford to buy so prices have dropped and will continue to drop which can only be welcomed (obviously not welcomed by those trying to sell)

Actually Robder makes a good point,so much more to see and do rather than just Ibiza,given the chance (aka money to fund it) i would do it..maybe someday:!:
 
Robder said:
Oh and sod going to Ibiza with it.

I've been there 8 times and will still go back most years - so will you...it's a big old world out there. For Christ's sake broaden your horizons, explore the east and discover new wildlife/cultures...you'd be crazy to spunk it all in the Balearics.
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yeah but its easy for people like you who live so close to keep going back to ibiza every year, because its much cheaper and you can go for a shorter break.

when you have to come from so far away, you have to make it your big holiday of the year.

It would be nice to go to ibiza for just a quick break and still go somewhere more adventurous and exotic for my main holiday\

having said that i agree with you in that if i had that kind of money to spend on traveling, i wouldn't spend it all on Ibiza, I'd do a normal 1-2 week holiday in ibiza and go traveling somewhere with more adventure and somewhere that is completely different.

while I love ibiza and hope to go back again and again... its not exactly a place that is sooooo different from where I live compared to a million other places in the world one could visit.
 
my sister did the same a few years ago...........used £30K house profit to travel for a year or two.

now has no chance being on the ladder and although the memoris bank is full to bursting, she wishes she'd have been a bit more prudent.
 
people often want what they can't have though.... if you never go traveling, you always wish you had done it.. if you go traveling, you want to have the memories AND the house/career/money/equity etc

No one can ever take away your memories and experiences, but possesions and money can always be lost, stolen or destroyed.
 
utagaura said:
people often want what they can't have though.... if you never go traveling, you always wish you had done it.. if you go traveling, you want to have the memories AND the house/career/money/equity etc

No one can ever take away your memories and experiences, but possesions and money can always be lost, stolen or destroyed.
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Not if you have an adequate insurance policy.
 
im amazed at everyones suggestions. all of which will have to be seriously considered before any decison is made, not to mention the fact that there is a bit of work needing done on our house before we could sell/rent it.

Robder, i have always wanted to work in ibiza for a season and its getting to the stage where if i dont do it in the next year or two then i wont. So even though i know i would return to ibiza for a holiday it wouldnt be quite the same so if we did go travelling i porbably would start it off with a season if ibiza then make my way east.

utagaura- i loved what you said about possesions and money being lost. You certainly dont have pockets in the next life.
 
:lol:

GOT FOR IT!

no question. leave some cash at home to start again, maybe £10k of your £60k.

good advice already that its a big world, on that sort of cash it would be a waste to spend anymore that £20k - £30k in ibiza.
 
bad idea, if you sell now and spunk all your money you will never get back on the ladder, and house prices in Manchester aint that cheap either, this "collapse" some folk are predicting will not happen, there will just be a slowing down.
 
£60k is an awful lot to spend in Ibiza for a season.:lol:

Do you have to do anything as drastic as sell your home to fund it?

Get an equity release loan and just take what you need.

It's alright people saying you can't take it all with you etc etc etc, but unless you're past retirement age which i'm sure is not the case, then I'm not sure it really is the best advice.

Living for the moment is fine. But hindsight is a bitch. :lol:
 
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