Achieving Goals Faster with House Hacking

Meet Lydia Claydon. I met Lydia at book club and we instantly became friends. Lydia is very outgoing, savvy, cheerful, and ambitious. It has been very fun learning about the UK and all of its lovely quirks through her experiences. Lydia and I are always discussing ways to better ourselves and I was thankful to be able to reach out to Lydia to ask questions about this blog as she had already started hers.

Although real estate investing in the UK is different from in the US, the reason behind why most of us start is for the same reason. We all want more time to enjoy doing the activities we love to do.

Describe a major goal you've set for yourself recently.

I actually have two, one that is career focused and one that is more personal. I recently joined a new company and I joined with the mindset of longevity. Its a small-medium company and there is a lot of opportunity for progression. My five year plan is to become a director within the company which is very possible. My personal goal is to visit 30 countries before my 30th birthday. I am currently at 19, I have a few more to go but I think it is definitely achievable. I want to explore and travel and just experience different cultures. To an element, travel is one of the reasons that I chose the job that I am in. I wanted a job where travel was included. Those are the most important to me at the moment and those are my biggest goals for the next 5 years.

What actions did you take advantage of during the lockdown to better yourself?

I was furloughed during for majority of lockdown from April to July. It was really a bit of an adjustment. So many people thought I was so lucky to not be working and you have time off and whilst at first it does feel like a holiday, it gets mundane. During the day I only had my own company and becoming my own best friend. We couldn’t do anything during lockdown but go out once a day to exercise and shop at the grocery store. I started practicing yoga and I taught myself how to properly cook and continued both once I started working. I learned to enjoy the simple things, the things you take for granted. The things that I have that other people don’t have access to. To keep myself busy, I stated writing a blog and took a social media management course so I could learn a new skill. I was always interested with both but it wasn’t something I pursued because I didn’t have enough time. I started writing down tasks that I could do while being more from. The blog became my passion project. I needed something that I was excited about doing everyday so that I could stay active during the lockdown. I created a schedule with my content so I had different activities to complete everyday.  

What would you spend your time doing if you were financially free?

Without a doubt, I would just pack a bag and take a flight somewhere. If I didn’t have a job that required me to work in the office, I would work from anywhere. I would spend my holidays differently, I wouldn’t have to have a full itinerary. I have folders of different destinations that I want to visit. I can easily map out the places I want to go and go to them as I please. Some people were able to book flights and travel right before lockdown and could stay and work at that location for a month because they weren’t tied down to working in the standards that their employer required.

What bit of advice would you give to someone who feels stuck in their life?

Do something new, something you aren’t already doing. If you are complacent, it probably means you are bored and you don’t realize how good you’ve got it. By doing the same thing, just carrying on with your life exactly how it is, you aren’t going to change anything. Just do something different, join a club, cook a new dish, join a class, or learn a new skill. Start small so that you can progress into larger changes and be more successful. Also, reflect on your current friends circle and think if they are people you want to be like. If you spend time with people who inspire you, your attitude and actions will gradually change.

I listen to a podcast called, “The Mindset Mentor.” Time and time again, the host repeats, “You become the five people that you hang out with most.” If you think of those people and think of their defining characteristics, those are most likely going to rub off on you. You get to define your own benchmark.

 Why did you two decide to house hack?

Buying in Cambridge, England is really expensive and flats particularly because of the ground floor access. Whilst we could afford to live there by ourselves, by having a roommate, we had more disposable income. The mortgage is covered, the bills were covered, and then we still had money leftover to save. The reason we did it really, was so we could spend less time at home. As weird as it sounds but if you have a mortgage and you're spending all this money on your mortgage if nothing is leftover after you are paid, you spent all your money on your house. So, by all means we rather have someone come live in our spare room, so we have extra money to leave our house. It alleviates some of the pressure and not that money makes you happy but having a bit of money, I think, can improve your quality of life.

Why did you decide to hold on to your previous property and rent it out?

Since the flat is only 3 years old, when the flat was revalued, it wasn’t worth the money that it was originally bought for. We decided to rent it out and wait to sell until the market increases and we have equity in the house again. The rent from the flat covers all the expenses plus more. There are very minimal expenses because everything in the flat is fairly new. This situation proves you don’t need money to be successful in property. For people who do have money, there is no reason for it to sit in a bank account because the interest rates are terrible. Having money in a property always provides better returns than the bank. If you buy wisely, you are not going to lose out. Obviously you can, there are some risks, but just allow yourself a bit of cushion. If you don’t take a risk you aren’t going to make any money.

Check out Lydia’s blog! It is full of fun date night ideas, book recommendations, and how to stay occupied in lockdown!

Do you house hack or have you considered house hacking? We would love to know your experience, let us know below!

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