It crops up when you mention minimalism and reducing the amount of stuff you own, there is always one question that people want you to answer:
‘Why don’t you sell your house?’
It’s a good question and we have definitely considered it. But there are a few reasons we won’t, even though at the moment we admittedly have more rooms than we need.
1. While we don’t want to fill our extra rooms with stuff, we would live to fill them with some little people in the future.
Yes, we could downsize to a one bedroom place and live quite happily but when children eventually come along it will no longer be suitable for our needs.
2. Instead of downsizing we could sell up completely and rent, probably living off the money we have made on our property for a good few years.
However, we still need somewhere to live and London is an extremely expensive place to be. We have no intention of leaving the city, we love it here, but signing up for a lifetime of renting would be financial folly.
Rent in London increases year on year and you have zero security of tenancy meaning we could be turfed out after a year. This is a precarious position to be in and although we would have far less to move now than we ever had I don’t want to be left at the mercy of a landlord who wants to up the rent or sell the property.
3. The financial cost of renting leads nicely to the third reason for not selling: financial security.
While our house has a mortgage attached at the moment we are working hard to pay this down so we actually own out property outright.
By doing this we will reduce our outgoings significantly as our mortgage is currently a huge 60% of our bills.
Minimalism for us is not just about reducing the amount of stuff we own, it’s reducing the obstacles in our life that stop us doing the things we want to do and bills are a huge obstacle.
By paying off our home we minimise the bills we pay substantially whereas renting would mean there is always that cost hanging over us, it would become a permanent obstacle. If we take away the cost of accommodation we free ourselves up to do so much more.
Owning bricks and mortar may not be minimalist in the purest sense of the word. Everyone has to follow their own path and do the things that make them happy.
We are taking a minimalist approach to our outgoings and costs that we hope will give us freedom financially and freedom to really do what we what with our lives.