Should I sell to invest

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  • LHW99
    LHW99 Posts: 4,220 Forumite
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    What you need to consider is the cost of the mortgage versus renting a house that will accomodate 5 comfortably and is near enough to your work that you don't run up additional large bills getting yourself there.
    You also have to think about uprooting your children, particularly educationally. Children are remarkably resilient, but changing schools usually means changing your set of friends, and its never easy being the "odd one" who wasn't there in the group originally.
    Don't give up on your business idea, but a secure roof is most important to your family now IMO - we were in our 50's before we branched out on our own business.
  • HardCoreProgrammer
    HardCoreProgrammer Posts: 155 Forumite
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    If you are struggling to make the mortgage payments on your salary then there may be a case for downsizing, but this will cost money too so you may find the benefits less than anticipated.

    Renting with a young family is a big no-no. Children need stability and you could be asked to leave with 2 months notice and they may have to change school, etc.

    A small business is usually unlimited liability - if it fails you could lose more than what you put in including your home, so be cautious.

    Why would one get banned from the forum for suggesting that OP's idea is bad?
  • Annie0707
    Annie0707 Posts: 12 Forumite
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    Thank you everyone for your responses. I really appreciate it, certainly given me some clarity. I guess since I'd always provided a secure home while renting, I don't see it as that risky.
  • UKSBD
    UKSBD Posts: 797 Forumite
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    Have you considered getting a lodger?
  • jimjames
    jimjames Posts: 17,625 Forumite
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    Annie0707 wrote: »
    Point taken

    I think the voting is pretty emphatic. Random internet strangers agree with your friends and family!
    Remember the saying: if it looks too good to be true it almost certainly is.
  • badger09
    badger09 Posts: 11,211 Forumite
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    jimjames wrote: »
    I think the voting is pretty emphatic. Random internet strangers agree with your friends and family!

    Random internet strangers are your friends and family! :rotfl:
  • badger09
    badger09 Posts: 11,211 Forumite
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    Whoop whoop. My 4000th 'Thanks' :j


    Thanks Annie0707:o
  • le_loup
    le_loup Posts: 4,047 Forumite
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    HardCoreProgrammer wrote: »
    Why would one get banned from the forum for suggesting that OP's idea is bad?
    When you have as many posts as I have, your risk of being banned grows exponentially if you do not agree with a poster who asks a daft questions!

    You will notice in this thread I said that I would not say that the OP put forward a crazy suggestion.
  • Annie0707
    Annie0707 Posts: 12 Forumite
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    You are welcome :T
  • badger09
    badger09 Posts: 11,211 Forumite
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    Annie0707 wrote: »
    You are welcome :T

    Assuming that was for me, allow me to be the first to 'Thank' you

    Better stop this :love:now :o
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