Gone are the days of buying a property to pass on to your children, and even making a large profit when moving on to something bigger for the growing family. Increasing numbers of young people are staying at home with parents for longer. Even when they finally move out, it may be to private rented property.
Alternatives to Renting
There are viable options for housing, and some of them will mean that you may have something to pass onto the next generation. For more information about house prices and the downward trend in the popularity of home ownership, take a look at this article from 2016: https://www.theguardian.com/commentisfree/2016/apr/12/house-prices-money-cheap-debt-planning.
Six Quirky Alternatives to Home Ownership
1) For under £10,000 you can buy a canal boat. You will also want to pay for a permanent mooring unless you don’t mind moving every couple of weeks or so. Boats do take a fair amount of maintenance, though. They can be very cold in the winter.
2) You can buy a flat-pack house from £10,000, and some can be constructed, complete with a composting toilet, in about four hours. A cubic house would suit a couple. If you are seriously interested in this option, look for more information about QB2 houses.
3) Why not live in a van? You will need to find somewhere to keep it permanently unless you want to be on the move all the time. This option will cost upwards of £500, but some van-dwellers have even put in shower facilities.
4) A yurt costs about £200, but you will need to be creative if you want to live in it permanently. It can be cosy with a wood-burning stove. A tent is even cheaper, although the local authority may not be tolerant if you try this as more than a temporary option.
5) A caravan or park home may be more appealing, particularly if the above options are making you feel somewhat chilly. There are Gloucestershire park homes for sale from £180,000, although some caravan options may only set you back a few thousand. Take a look at www.parkhomelife.com/park_orchardtwigworth.aspx for availability.
6) Finally, how about going for the hipster lifestyle and converting a double-decker bus? This may only set you back about £4,000 and will suit those who yearn for the days of the London Route Master buses.