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Would you accept this offer?
cobbingstones
Posts: 1,011 Forumite
Hi all
We have been considering putting the house for sale and I have been hoping that my dh would change his mind. I love my home to bits and I am in turmoil trying to make the right decision on selling and going into rented. We have a beautiful detached five bedroomed house which was valued last year at around 390k my dh wanted to move then but I disagreed
Now one of our neighbours who has the same house, but have made it into a four bedroomed and also upgraded the kitchen are asking for 390k and we know that they will not accept under 380k for their house. We have not put our house on the market as yet because of my indecision, and we by chance heard that friends of our friends would be keen to view so they came yesterday and offered 360k. They have a buyer for their house who are ready to proceed who are currently in rented. They need a decision today and its my call.
So I need your advice please. Would you accept? My dh said he is being realistic, we owe about 38k on debts and are on an interest only mortgage. We have lived here for nearly four years and we could not say one negative thing about the house, neighbours or area. Or would you stay and wait for five years until the debts had been paid off? My dh is also concerned that he could lose his job (he works in telecomms) and he wants to live now not in another five years (I'm happy to wait). He also states that we would have 40k left after the bills have been paid and we would use that for a deposit for another property when (or if) the house prices go further down.
Sorry for the ramble just can't sleep and need constructive advice!
CS
We have been considering putting the house for sale and I have been hoping that my dh would change his mind. I love my home to bits and I am in turmoil trying to make the right decision on selling and going into rented. We have a beautiful detached five bedroomed house which was valued last year at around 390k my dh wanted to move then but I disagreed
Now one of our neighbours who has the same house, but have made it into a four bedroomed and also upgraded the kitchen are asking for 390k and we know that they will not accept under 380k for their house. We have not put our house on the market as yet because of my indecision, and we by chance heard that friends of our friends would be keen to view so they came yesterday and offered 360k. They have a buyer for their house who are ready to proceed who are currently in rented. They need a decision today and its my call.So I need your advice please. Would you accept? My dh said he is being realistic, we owe about 38k on debts and are on an interest only mortgage. We have lived here for nearly four years and we could not say one negative thing about the house, neighbours or area. Or would you stay and wait for five years until the debts had been paid off? My dh is also concerned that he could lose his job (he works in telecomms) and he wants to live now not in another five years (I'm happy to wait). He also states that we would have 40k left after the bills have been paid and we would use that for a deposit for another property when (or if) the house prices go further down.
Sorry for the ramble just can't sleep and need constructive advice!
CS
0
Comments
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I think your DH has a point. I also think £360k is a good offer. What is your monthly mortgage compared with renting a similar sized house?0
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Thank you for your reply.
Our Mortgage is £1300 (interest only) I guess we would be looking at renting for £1000 for this area. We would need to stay in the locality due to schools etc.
CS0 -
It is only a house. Bricks and mortar can be bought again, but thousands of couples split up every year because of stress surrounding being in debt.That can makes some marriages irretrievable. Your DH sounds like he wants to be debt free, so go with it, on condition you stick to the budget and invest the leftover money instead of frittering it away.
Go rent, take a year out to budget properly and build up savings instead of getting into debt, then you will be in a position to buy something affordable at the bottom of the market AND be in a position to not be coming from a chain when buying (like the other couple you talked about)Member of the first Mortgage Free in 3 challenge, no.19
Balance 19th April '07 = minus £27,640
Balance 1st November '09 = mortgage paid off with £1903 left over. Title deeds are now ours.0 -
And your wouldn't need a HIP!0
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I know its just bricks but its the first house I have ever lived where I have not wanted to leave.0
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The both of you need to talk this over fully, the pros and the cons. No one on here can make that decision for you. My head would say sell, but my heart?0
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Write a big list of reasons to stay and reasons to go. All the pros and cons of renting - how much cash you'll make etc0
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What's DH?
I can only think of dog handler and d*** head.0 -
DH = dear heart, dear husband etc0
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yes take it similar price range for my house and i would accept 360 in present climate.Before you point fingers,make sure your hands are clean !;)0
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