September 23rd 2023.
We're in Norwich this week, and this week we're checking in with Siam Kidd and his family who have been living in a house in Norwich for the last three-and-a-half years.
Siam is a 37-year-old full-time crypto trader and business owner, and he tells us that renting is the perfect fit for his current lifestyle. He doesn't feel the need to deploy huge sums of capital into a house, and his business growth and crypto returns exceed normal house price appreciation.
So, what does he get for what he pays? Siam and his family are living in a lovely house with an annex, stables, garages, and many acres of garden and woodland. He pays £3,250p/m rent, £330p/m council tax, £350p/m cleaners, £600p/m gardeners, £250p/m water, and £2,000p/m in electricity.
Siam says he has a good deal, as his businesses contribute to the rent, so that reduces his personal outgoings a bit. Plus, he is able to grow the saved capital a lot more via his trading and businesses.
Norwich is a beautiful area with everything one needs, and he found the property on Rightmove. He hasn't made any changes to the place, as he doesn't really get caught up in the emotional aspects of feeling like it's a home. But he has made nice bedrooms for the kids and a nice play area in the garden, so the kids enjoy it.
Siam has no plans to move anytime soon, and he has no intention to buy a house either. He believes mortgages are modern day scams, especially when you look at the numbers. He plans to buy his forever home mortgage-free at the end of 2025, as he feels that's when house prices should have fallen nicely and when the next crypto bull market high will be.
If you're interested in taking part in the What I Rent series, please email email. You'll need to take pictures of your kitchen, living room, bathroom, and bedroom, plus a few photos of you in your bedroom or living area. Make sure you get permission from your housemates! You'll also need to be okay with sharing how much you're paying for rent, as that's pretty important.
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