Irresponsible? Mad?

[GermanyJo]

I would like to hear unbiased opinions about what I am considering.....I will be getting some inheritance money in the next months...Not millions, but enough to put quite alot towards buying a flat/ house to rent out....the dilemma ( I admit it is a nice one) that I have is that I have always wanted a nice little lorry....I already have a very ( >25 year) old 7.5 ton which seems to cost me a fortune to tax and insure every year and I normally only travel one.
I am really tempted to treat myself to a nice 3.5 ton.... I understand that they don't run forever like the 7.5, so have been looking about at young models....They all seem to be between 32 and 50k (euros) 😱
I am torn between being sensible and putting all the money into a house, or 'living for the moment' and splash out. I am over 50 and want to convince myself that as one only lives once ( I think!) that I should just do it.
My partner thinks I am bonkers, but he is also not ' horsey' so does not understand 😀
I currently have 2 horses, but one is only 2 and don't plan to want to travel both together, but am still looking at models with at least 1200kg 'nutzlast' as don't want to be worrying with one plus kit about weight ( both around 500kg connie x)

So...mad ?, stupid? Or just go for it...no pockets in a shroud?

 

[Shysmum]

Do it !

 

[AdorableAlice]

My decision if I was in this position would be based on what my pension/retirement looked like. If it is sound I would buy the truck, if it was rubbish I would invest in the property.

 

[Sussexbythesea]

I’d go for it as it’s a windfall and if you’ve already a secure home then live for now.

I remortgaged to finish house renovation I then spent a chunk on a lorry instead. I don’t regret it but house still needs work and lorry is now sold. I did enjoy it when I had it though and I might do it again when the time is right.

 

[shirl62]

I think you should spend at least some of the money with something that you really want...and it seems that you have written more about getting a new lorry.......so go with what makes you happy >>>>>> lorry this way>>>>

Shirl

 

[irishdraft]

As someone who has rented out property for 25 years and is desperate to sell up I would definitely go with the horsbox or anything else lol renting out property is very hard work and extremely stressful so many rules & regs so if you do not need the income i wouldn't go down that route.

 

[GermanyJo]

Thanks for the replies so far 😀, I could still put enough money into a house with maybe a small mortgage to run over max 10 years, so my pension should be secured ( unless I lose what I paid into the UK until I moved here due to brexit!), obviously without the lorry I would need less finance or could get something bigger.....I forgot to say I have no children, so no need to leave anything much when I pop off 😂

 

[crabbymare]

I think (may be wrong) that renting in Germany is very different to UK? If so then I would go with getting a lorry and having a small mortgage on the house. That way you have a lorry that you can enjoy getting out and about in, and will keep your partner happy as well so win win

 

[GermanyJo]

Hi crabbymare,...yes, many more people rent compared to UK, I think Germany has the lowest % of homeowners in western Europe (?)

 

[cobgoblin]

Just wanted to say 'nutzlast' is a far better word than 'payload'!

 

[AmyMay]

My decision if I was in this position would be based on what my pension/retirement looked like. If it is sound I would buy the truck, if it was rubbish I would invest in the property.

I completely agree. Really great advice.

 

[ycbm]

My decision if I was in this position would be based on what my pension/retirement looked like. If it is sound I would buy the truck, if it was rubbish I would invest in the property.

This three times over. I adore my recently bought 3.5, but I would never have bought it before my retirement was secure.

 

[Spottyappy]

I would say buy the lorry, assumign you will be relatively financially ok at retirement.
Life is too short.
I may have a skewed view, but my dad didn’t make it to retirement, and therefore I think it would be sensible to enjoy abit more of life.
Even if we get to retiring, often health is not great and you can’t do what you intended then, so I would say get the lorry and enjoy it. None of us know what’s round the corner.....

 

[GermanyJo]

Just wanted to say 'nutzlast' is a far better word than 'payload'!

Yep....I couldnt think of the English word 😂

 

[GermanyJo]

I would say buy the lorry, assumign you will be relatively financially ok at retirement.
Life is too short.
I may have a skewed view, but my dad didn’t make it to retirement, and therefore I think it would be sensible to enjoy abit more of life.
Even if we get to retiring, often health is not great and you can’t do what you intended then, so I would say get the lorry and enjoy it. None of us know what’s round the corner.....

Agree...my mother only just saw her 40th birthday, with my father dying this year, my own mortality is staring back at me at the moment

 

[GermanyJo]

My decision if I was in this position would be based on what my pension/retirement looked like. If it is sound I would buy the truck, if it was rubbish I would invest in the property.

Definately good advice, think it may be sensible to look at properties, sort that out and see if the shiny little run about is do able after the sensible bit is secured.

 

[AShetlandBitMeOnce]

I would buy the house, assuming a small mortgage, I would then put the rental income straight into a separate account and save up for a lorry. Would have both by the time the 2yo is ready to be out and about.

 

[Sugar_and_Spice]

Or you could buy a really really good lorry with living, live in that and rent your current home out. Though I suspect there's some impracticalities with that which I can't see :biggrin3:

 

[Theocat]

I'd buy the house, and either save for a lorry or buy a trailer, if that would suit you.

 

[rabatsa]

You have the oportunity to get the lorry without worrying about the costs. Do it otherwise you will only come to regret not doing so, by which time you will have to stretch your finances to get one.

 

[JillA]

But will your horse load in a 3.5 tonner? Mine won't and he is only 16.1hh - he doesn't believe he will fit, because he needs to get in and turn. That would be my main consideration, plus if you can drive a larger one I think they are safer and more durable, even if they don't look so nice

 

[ycbm]

But will your horse load in a 3.5 tonner? Mine won't and he is only 16.1hh - he doesn't believe he will fit, because he needs to get in and turn. That would be my main consideration, plus if you can drive a larger one I think they are safer and more durable, even if they don't look so nice

That sounds like a training issue, Jill, sorry. Mine 'wouldn't' load in it either when it arrived. There is the same turning space on the driver side as in the second to last berth on a lorry, and the same on the passenger side as the last berth on a lorry. But the low ramp makes it much easier to load a reluctant one.

 

[pansymouse]

Tenants are a balls ache, buy the box. Mine have just buggered up the heating (again) and expect me to know better than British Gas how to fix it

 

[Sukistokes2]

You only live once and life is short........I’d buy the lorry and enjoy it.

 

[Antw23uk]

I'd buy the lorry. Life is too short and if your comfortable before the money arrives then you'll be comfortable afterwards. Thats a big budget though so I would be looking for something cheaper and then investing whats left (there are investments with the same benefits out there that dont involve property and dealing with nightmare tenants!)

 

[Cecile]

You only live once and life is short........I’d buy the lorry and enjoy it.

Absolutely this ^^

 

[Apercrumbie]

Tenants are a balls ache, buy the box. Mine have just buggered up the heating (again) and expect me to know better than British Gas how to fix it

How do you "****** up the heating"?

It sounds like you can actually do both so I would. Do make sure you are well set up for retirement but once you have, get on with living! Riding at 80 is pretty rare...

 

[Annagain]

I'd hedge my bets. Keep enough back for a deposit on a property and get a mortgage for it and spend the rest on the little lorry. Borrowing to fund the flat would at least provide an income, if you end up having to borrow to fund a lorry soon (when your old one dies - it will sooner or later!) you'll only have a depreciating asset to show for it. The interest on a mortgage for the flat will be covered by the rent - you won't be making as much profit as you would without a mortgage but you'll have an investment and a lorry!

 

[PeterNatt]

Problem simply resolved.
Buy a nice property to rent out and make sure you get a good agent to look after it for you sp that you do not end up with aggrrovation.
Then use the income from the house to pay for the hp on the Lorry but get yourself a brand new lorry from a reputable builder such as Bloomfield, Boss, Marlborough or Oaskley.

 

[JillA]

That sounds like a training issue, Jill, sorry. Mine 'wouldn't' load in it either when it arrived. There is the same turning space on the driver side as in the second to last berth on a lorry, and the same on the passenger side as the last berth on a lorry. But the low ramp makes it much easier to load a reluctant one.

You would be more than welcome to come and train him - it has taken many sessions to train him to load in a trailer, never mind a vehicle where has has to load and turn without barging out. Feel free