Home storage or away?

[Brian Kirby]

Veggielover - 2013-04-11 2:52 PM

 

I plan to downsize my house (less need, less cost and realise some equity) and buy a motorhome, but where to store it? Alongside the house seems convenient (within sight, easily accessible, potential use as spare room etc) and no-cost, as opposed to storage elsewhere, but it's absence when touring could indicate an empty property. The decision could affect type of propertyt/where to live. How have other members decided what to do?

I think you will struggle. I assume you would like to stay roughly in the same area, and would like something relatively new, to benefit from reduced maintenance and running costs. I think you will find that nearly all recent developments leave little actual space around the houses for vehicles such as motorhomes, and in any case include restrictive covenants that ban them (not specifically, but generic bans that are clearly intended to include them). Unless you present house has 4 bedrooms or more, I would expect the costs of moving to make such a hole in any equity gain that you end up questioning whether there is sufficient benefit to make the venture worth the upheaval.

 

If you are lucky you may find an older "project" property with sufficient land to allow your motorhome to be parked to the side of the house, or even behind it, so that its comings and goings are less apparent. Most such properties are likely to be in rural areas so, depending on your age, and how long you intend staying put, you may wonder whether distance to shops, doctors, dentists, or even hospitals, will be practical, especially if/when you have to give up not only your van, but also your car.

 

Maybe stay put until you cease driving, and then move? Your present house will still retain its relative value, and the equity released should then gain a greater benefit.

[Veggielover]

Many thanks for your thoughts Brian. Unfortunately staying put is not an option, for reasons I would not wish to discuss on his forum, nor is a new property, for the reasons you highlight. But hey, looking is half the fun.

 

Chris