House options

Discussion in 'Joining Up - Royal Navy Recruiting' started by gorni12000, Apr 9, 2015.

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  1. Hi,
    I have been continplating joining the navy for a number of years, I am now getting older..almost 29 so realise time is getting on and will have to move if I want to join. I have completed my application but not submitted yet due to the below.

    My issue is I now have a house I have spent a fortune and loads of time on and what to do with it. Is there any support or services to discuss my options with?
  2. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    It's up to you really, you have an asset many do not.

    Logically, if you live alone in the property and don't wish to get rid or buy closer to where you work, you can either sub let or retain it empty at your own expense whilst away. Most sub-let in these circumstances, much the same as anyone else working away from home, service or civilian.

    For those serving, the White Ensign Association can offer advice but whilst your AFCO staff can give generic pointers, for most civilians there's seldom such a thing as "free financial advice" on how best to retain or turn a profit from a private investment worth tens, if not hundreds of thousands of pounds.
  3. Cheers, these were the two options I was thinking. The branch I have been looking at is either based Scotland, Southampton or Devonport. I live in Cornwall, so if I got posted Devonport would be ideal for heading home now and again, but I suppose is no garrantee which is the worrying bit :/
  4. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    Obviously it's difficult to know where you are going to be based & no guarantee of remaining static throughout your career but I think pretty much everyone would advise "Don't sell" unless you are doing it to buy another.

    What would I do? Adopt a pragmatic, wholly business-like stance. Put aside any emotional affinity with the property as you will most likely have to let it in order to offset the cost of keeping it. Remove all items of sentimental or significant financial value from the property & find somewhere to keep them. Accept that you aren't going to be living there for some time & accept that the house may be used & abused/require a full refurb when the time comes to move back in.
    • Like Like x 1
  5. Thanks, some sound advice and plenty to think about about
  6. Another option worth considering - bearing in mind that it appears that your house is in Cornwall - is to consider letting it for holidays. There are a lot of holiday letting agencies you could approach for quotes, but if you are not going to be able to guarantee being able to deal with the nitty-gritty yourself ( changeovers, cleaning, defect rectification etc) you would also need to consider appointing a managing agent to deal with such work. That would certainly entail some additional expenditure, but possibly a better return on your investment than a simple rental.
    And don't forget that if you do rent the property out ( either long term or as a holiday let) there is a tax liability. Much as it grieves me to say it, it would be worth involving an accountant. (not forgetting that within every accountant there is a four-letter word beginning with c)
  7. sorry to high-jack,

    do you know when you are eligible for housing (married with 2 small kids) once joining? I am 28 and seriously considering joining but worry about how we would afford the period until we get quarters (if we would). I am speaking to a CA (call back within a week) and just thought I would ask to see if anyone knew first hand?

  8. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    You need to have completed Initial Naval Training at HMS Raleigh. It is possible to apply for a quarter during Phase Two (branch/trade) training but usually you have to be on the "Trained Strength" and to have received your first draft (assignment order) before you can realistically move your Family into quarters.

    The full shebang is here:

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