In the UK there are many people who measure success based upon life’s milestones, such as getting married or owning a property. Although undeniably exciting, many of these markers come with a premium price tag, and none more so than buying a home.
With a quarter of households predicted to be renting by 2021 due to inaccessible house prices, it is no surprise that many are seeking alternatives to the traditional bricks and mortar route. With tenants of all ages becoming fed up with renting for a multitude of reasons, many are opting for the unique options featuring in the media.
Become a property guardian
Unlike house sitting, becoming a property guardian means you live in an empty building. They are usually very quirky, and the purpose of your tenancy is to keep them secure and report any maintenance issues that may arise, such as a leak or out of control ivy.
From disused care homes, schools and libraries, to mansions, asylums and churches, there are spaces to call home for every taste. The rent is often extremely cheap, as low as £100pcm, and usually inclusive of all bills.
There have been issues surrounding the rights of property guardians, with many being given as little as two weeks’ notice to vacate. However, many guardians state that they enjoy the freedom provided and penning a thorough contract is the perfect way to keep you and the landlord protected.
Live on a houseboat
Particularly in London where waterways are rife and property deposits unachievable for many, some are finding canal life much more appealing. Living rent and mortgage free on canals throughout the UK doesn’t come without its fees, with a permanent mooring costing a significant outgoing. However, with the most expensive moorings in East London coming in at £10,000 per year – significantly less than the cheapest studio space – there is a saving to be had.
Typical mooring costs throughout the remainder of the capital fall around £6,000 per year and the rest of the UK can see tow path space as low as £2,0000. However, you can knock down the price by opting for a continuous cruiser license. This costs around £800 in London and means that you have to hop moorings every two weeks.
Other charges to consider are mostly related to maintenance, with engine and boat upkeep around £500 per year. Just like house insurance, you will need the boat equivalent, which is upwards of £300. Lastly will be expenses for sewage, heating, and electricity. However, these are significantly less compared to a traditional property.
Tiny house living
Having become somewhat of a movement over the past few years, more and more people are opting to live in tiny purpose-built homes. Whether they are self-built or created using a professional, some tiny homes in the UK can be designed and built by hand for as little as £12,000.
Those considering the tiny lifestyle can opt for a connected or off grid home, with the main differences being related to electricity, water and drainage.
Connected tiny homes function in the exact way a regular sized home does. They need to be within easy reach of another home or building which has a water and electricity supply that the tiny home can be connected to. Off grid tiny homes allow you to live in the wilderness, if you so wish, but come with a higher initial set up cost. Generators, solar power and wind turbines would be options to consider for power, whereas rainwater harvesting or storage tanks would be best for water.
Although cost is often the primary reason many go down the tiny home route, the lifestyle also presents the following benefits:
- You can move easily, especially if your tiny home is on wheels
- You can be extremely environmentally friendly
- You can be energy efficient
- You can live a minimalist lifestyle
- You can spend less time and money on redecorating and tidying
Move into a mobile home
Also known as manufactured homes, mobile homes are becoming an option for those who cannot afford to buy a traditional bricks and mortar home and those who are tired of renting. Despite the ‘trailer park’ stigma that has been perpetuated by the media, mobile homes often sit in idyllic rural locations and have the off-street parking, quaint gardens, and front porches that many desire when buying a home.
Mobile homes boast many of the perks that tiny homes do, such as being environmentally sound and allowing occupants to live more simply. Saying this, there are some incredibly luxury mobile homes, so they really are what you make them and prices for a two-bedroom home start at £60,000.
One aspect of living in a mobile home that many champion is the sense of community. You are essentially living in a detached property, which would be expensive in the traditional market. However, you have the benefit of neighbours close by that live a similar lifestyle to you.