Author Topic: Netflix show How to Live Mortgage Free with Sarah Beeny  (Read 1016 times)

crimwell

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Netflix show How to Live Mortgage Free with Sarah Beeny
« on: December 01, 2019, 01:57:10 AM »
Anyone seen this? It's a British show, more about "creative" housing solutions than strictly mustachianism. Just watched the first episode, it features a young woman getting a lot of help from the show to refurbish an old barge (not probably replicable) but also features a family who paid down their mortgage in just a few years by doing full on mustachian style savings. Also a guy who rehabilitated a prefab metal chapel from the early 1900s and a woman who built a house out of an old industrial site.

Erma

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #1 on: December 01, 2019, 04:04:41 AM »
Yes, I have seen it and loved it.

Hula Hoop

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #2 on: December 01, 2019, 04:09:56 AM »
Is it on Netflix or YouTube?  I'll check it out.  Personally, I'm not aiming to live mortgage free as mortgages are so incredibly cheap here in Europe (or at least here in Italy) but I like the idea of mustachian living.

Imma

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #3 on: December 01, 2019, 04:14:11 AM »
Yes, I really loved it. Really inspirational. One episode showed a man who made a completely adapted high tech home by himself, for his disabled wife, on a really small budget which was super impressive.

It's on Netflix in here. Living strictly mortgage free isn't our goal either but living cheaply is. I do get the impression that planning permission rules are less strict in the UK which makes alternative living easier. I think at least half of the homes on the show would be illegal in my country.

crimwell

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #4 on: December 01, 2019, 10:38:37 AM »
Is it on Netflix or YouTube?  I'll check it out.  Personally, I'm not aiming to live mortgage free as mortgages are so incredibly cheap here in Europe (or at least here in Italy) but I like the idea of mustachian living.

It's on Netflix, I think it's a Netflix exclusive

I'm curious about the cheap mortgages in Italy thing. Can you say more about how they work or why they are so cheap? Are they subsidized or supported by the government?

Hula Hoop

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #5 on: December 01, 2019, 01:14:49 PM »
Is it on Netflix or YouTube?  I'll check it out.  Personally, I'm not aiming to live mortgage free as mortgages are so incredibly cheap here in Europe (or at least here in Italy) but I like the idea of mustachian living.

It's on Netflix, I think it's a Netflix exclusive

I'm curious about the cheap mortgages in Italy thing. Can you say more about how they work or why they are so cheap? Are they subsidized or supported by the government?

Not as far as I know.  The Euribor is just really low and was even lower when we got our mortgage a few years ago.  We are on a 20 year fixed rate of well south of 2%.  This is just with a normal bank. 

SwordGuy

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #6 on: December 01, 2019, 01:47:50 PM »
Is it on Netflix or YouTube?  I'll check it out.  Personally, I'm not aiming to live mortgage free as mortgages are so incredibly cheap here in Europe (or at least here in Italy) but I like the idea of mustachian living.

It's on Netflix, I think it's a Netflix exclusive

I'm curious about the cheap mortgages in Italy thing. Can you say more about how they work or why they are so cheap? Are they subsidized or supported by the government?

There are multiple small towns in Italy that will sell you a house (in need of repairs) for 1 Euro, with the promise that you'll move there, repair it, and do something (start a business, for example) in the town.

If we didn't have a special needs kid and some young grand kids we want to see regularly, I would be trying to talk my wife into moving.

crimwell

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #7 on: December 01, 2019, 03:17:21 PM »
Is it on Netflix or YouTube?  I'll check it out.  Personally, I'm not aiming to live mortgage free as mortgages are so incredibly cheap here in Europe (or at least here in Italy) but I like the idea of mustachian living.

It's on Netflix, I think it's a Netflix exclusive

I'm curious about the cheap mortgages in Italy thing. Can you say more about how they work or why they are so cheap? Are they subsidized or supported by the government?

Not as far as I know.  The Euribor is just really low and was even lower when we got our mortgage a few years ago.  We are on a 20 year fixed rate of well south of 2%.  This is just with a normal bank.

Very interesting, thanks

Imma

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #8 on: December 03, 2019, 02:56:26 AM »
I'm often shocked at how expensive mortgages are in the US. Our interest rate is 2,25% and that's quite high - we locked in the rate for a long period because we figured it wouldn't get any lower but right now the going rate is about 1-1,5%. On top of that property taxes are fairly low where we live: we pay maybe Ä600/year and half of that we would have to pay as renters too because it for garbage disposal and sewage. And then Americans seem to have to pay a mysterious thing called PMI too?

In my country owning is usually way cheaper than renting - our mortgage payment is Ä300 and we'd pay 4 times that if we rented this exact house. I guess that's because it's very hard to qualify for a mortgage in my country. Only a select group of people can jump through all the hoops while saving enough money for closing costs while paying extortionate rent. We managed by being extremely frugal.

In this series, lots of people seem to be able to convert barns their family owns or build temporary homes on land someone else owns, pretty much all of that is semi-illegal in here. And honestly, I don't think most people know someone who has a vacant field that you can put your tiny house in for free. But if that's something you have access to, you should grab that opportunity with both hands. Low housing costs are the gateway to financial freedom to the average person.

Hula Hoop

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #9 on: December 03, 2019, 04:13:03 AM »
It's similar here in Italy, Imma.  We don't pay property tax as our apartment is our "first house" (prima casa) ie we live there full time and don't own any other properties.  There is only property tax on investment or vacation properties.  Getting a mortgage here in tough - you have to put at least 20% down and it's very difficult to qualify unless you have a permanent work contract.  These are getting rarer and rarer especially for younger people.

I can't imagine buying one of those 1 euro houses in an abandoned hill town here in Italy - and I'm fluent in Italian and have lived here for years.  I can only imagine what a nightmare it would be for someone who didn't speak the language and didn't know anything about how Italy works.  They need extensive renovation work and the towns are de-populated so there aren't a lot of services.
« Last Edit: December 03, 2019, 04:16:04 AM by Hula Hoop »

habaneroNorway

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #10 on: December 03, 2019, 04:16:20 AM »
I'm often shocked at how expensive mortgages are in the US.

Different currencies, different target  rate levels and different inflation rate and expectations of future inflation rate. For starters, the yield on a 30y US treasury bond is about 2,25%. The German 30y yields about 0,2%. So that alone should make a US 30y mortgage somewhere around 2 percentage points higher than an European one. Inflation is higher in the US and also expectations of future inflation are higher for the US than for the Eurozone. It doesn't really make much sense comparing mortgage rates across different currencies. If you want to have an opinon on it being "cheap" or "expensive" you have to look at say the spread to the risk-free rate or the spread to where the mortgage can be funded by the lender. Also there is a quite valuable option to refinance embedded in a US mortgage rate. If rates drop a lot you can refinance, if they go up you just sit put.

A US citizen can probably get a mortgage denominated in Euro and have a lower interest rate then the US one. But that would be an Extremely Stupid Thing to do as the person would take on a massive FX risk where the size of the mortgage measured in USD can go up (or down) quickly.

You could just flip the argument around and have a US person being shocked at how low bond yields are in Europe or how little you make in a savings account and that you have to pay a bank to hold money for you in a checking account in Europe.

« Last Edit: December 03, 2019, 04:23:13 AM by habaneroNorway »

MoolahLula

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #11 on: December 03, 2019, 06:08:15 AM »
Thanks for the recommendation, will check out this show this week now that Iíve consumed all of The Crown.

norajean

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Re: Netflix show How to Live Mortgage Free with Sarah Beeny
« Reply #12 on: December 03, 2019, 06:27:01 AM »
Sarah owned Rise Hall, a 97-room castle in the English countryside, hardly frugal living, although she didn't pay a lot for it.