since moving into my own place it's not taken me long to be put off by
the reality of property developing. while i was still in my parents
house i got ideas from watching property ladder and the like that it
would be an enjoyable and money making thing to do.

however ive pretty much changed my mind now and i'm thinking i should
just keep things simple, do my day job, be able to do financial
calculations clearly (as i have regular income and outgoings). my long
term aim and a sensible one is to pay my mortgage off early, set a
target and check it monthly.


i think the tv programmes make developing look quite glamorous but the
reality is different. it would certainly be better to develop a
property seperate to your living accomodation as you can shut the door
on it and go back to a clean home, however this can only be available
to a few with decent capital.


buying to let or renting a room out seems to be the soundest thing you
can do as somebody else contributes to your mortgage? even renting a
room yourself while letting out your property sounds like it could
make sense and supplement your income.


another thing i feel could be important is buying a property you
actually like, where i live, looking round, i honestly cant see many
properties i'd fancy buying. i live in reading, berks.


what do other people think about this? i find if i can't do something
that i want then it stays in my mind for ages as something i want to
do but then once i try it it doesnt take long for me to be put off?

I can't really make sense of your post... it's a stream of consciousness jumble of ideas.

If you are 'easily put off', don't even consider developing. It is very hard work, time-consuming and can be very expensive if you don't know what you're doing.

As for renting a room and letting out your main residence as a BTL... have you considered that you'll be paying both a mortgage AND rent? Your tenants payments may not even cover the interest on the mortgage. Think very carefully and do loads of research.

Think of every property development project as a maths question. The figures have to stack up.

I agree it can make it look like a hobby sometimes. And these people often get bailed out by rich parents. My partner is an architect and has the majority of skills to do all work ourselves - unfortunately i am the one without a job so it would be down to me.

It's terrifying when you tot it all up. The maths that Donna is talking about are very difficult because there are so many unpredictable factors - like how long you'll take to get a buyer and final price etc

And with interest rates so high, letting is looking unattractive at the moment.