Our downsizing dream

Hello readers Lee and I have been talking recently about what we will do once the boys are all grown up and have moved out. I currently live in a large 3 bedroom house. Once we get married Lee will be moving in here and renting out the flat until the boys are grown and have moved on. It is a small one bedroom studio flat that will be perfect for us to downsize to when the time comes. The rent we will receive on the flat will be more than enough to cover the rent on the house. Once married the flat will be put into my name as well as Lee's. There is currently 11 years left on the mortgage but by making over payments I hope to knock it out in 6 years. Once we are mortgage free the rent from the flat will cover the rent for this house and any excess will be saved towards getting the flat ready to move back into when the time comes. I want the flat to be as frugal as possible and to be able to live as simple a life as possible. By 50 years old we hope to be semi retired both working a small part time job each to bring in enough money to cover what I hope will be our minimal bills. We can then enjoy the fruits of our labour and spend lots of time together enjoying each other's company and traveling a little.

The flat has a small gas boiler used for hot water only. I would like to see this removed completely as I can boil a kettle for washing up and the shower is electric anyway. This way we would have no gas bills. I would like to get solar panels fitted so we can generate our own electricity and if we are careful with our consumption we would have no electric bills. I would like to have a water meter fitted and use as little water as possible to reduce the water bill. The mortgage will be paid off so we would have no monthly rent to pay. We will have a freeview box installed so won't have a television subscription to pay out for. I will regularly check we are on the best deal for our broadband. We will be living a short walk from a big Tesco and Asda so I will be buying mainly yellow sticker foods. I also hope that I will be able to get a little part time job in Tesco so that I can take advantage of the staff card that gives you 20% off all purchases. We will continue to walk and use our bikes for short journeys and public transport for longer journeys. We will put up a fence around the small piece of land that comes with the flat and keep chickens and grow some of our own fruits and vegetables.

Obviously none of this will start until we are married but this is our ultimate long term goal. When we get back from holiday we will be looking at a date for our wedding and getting a savings plan put in place. It is going to be a frugal but as nice as we can manage on our budget wedding. I'm thinking around the £2000 mark which considering the average wedding costs £18000 is a hell of a lot cheaper.

In short we hope to work as little as possible as quickly as possible, spend as little as possible, and just enjoy each other for as long as we are able.

Much Love
Claire xx xx xx