Can we ever stop renting???

lynzpower

Probably cos more than 2 million people have moved into London meanmachine...

I agree though London is expensive, if you dont have to be here for work, then I wouldnt bother.

Jorgan_2

ChrissieI, the OH left her family behind, there was no defining factor in finally taking the plunge, apart from the long hours, high cost of living, hearing about, but not experiencing the high levels of crime in the area. It used to take 45 mins to commute 9 miles to work, it now takes 18 mins to go 10 miles. I have the sea a 10 min car ride away & open countryside a 10 min bike ride (5 mins for everybody else) away. Like doozer, its ok to visit 'the smoke' its only about 2.5 - 3 hours hours by car. The OH goes up on the train once every other month for work and can't wait to get home.

NervousYetFeisty

Firstly, renting isn't the end of the world and when prices are as high as they are now, it can make sense. The old "dead money" arguement doesn't stand, if you invest the money you save from renting wisely.
Having said that, I appreciate the hassle of having to move frequently. As a parent, and having watched my mother have to move on a landlord's whim every year or so, I can see the appeal of buying. This is exactly what we're doing.
As everyone here says, think about moving out of the smoke. Visit a mortgage broker for advice. In fact, visit a couple of them (we saw two - one got us a great deal, the other suggested a terrible one, - which I was able to recognise as being so bad because I'd already done my own research on moneysupermarket etc). You may be surprised at the amount you're able to borrow and more importantly, afford.
And assuming that having a baby isn't going to mean a drop in income, you don't need to wait until you've bought to start a family. I know you say you need a three bed house - but do you really? Say you happened to conceive today. The baby's not going to be born for nearly 10 months - say Feb next year. Then they stay in your room for a good six months (as recommended!), maybe more. They won't "need" a room of their own until they're one - that's two years away!
All depends on how old you are I suppose, but don't put it off just because you're renting...
When the baby's 18 months/two years - that's when you'll really appreciate a house and a garden. If you've got a decent park near by even that's not essential - I didn't have a garden myself, but can see how mmuch nicer it would have been to have one. And when they get to about four, you'll be thinking about schools and being in a nicer area. That's five years away, assuming you conceive tonight, lol!

suki1964

Jorgan wrote:

ChrissieI, the OH left her family behind, there was no defining factor in finally taking the plunge, apart from the long hours, high cost of living, hearing about, but not experiencing the high levels of crime in the area. It used to take 45 mins to commute 9 miles to work, it now takes 18 mins to go 10 miles. I have the sea a 10 min car ride away & open countryside a 10 min bike ride (5 mins for everybody else) away. Like doozer, its ok to visit 'the smoke' its only about 2.5 - 3 hours hours by car. The OH goes up on the train once every other month for work and can't wait to get home.

Same here, moved out in Feb and am wondering why I took so long making my mind up

So now the nearest shop is 5 miles away but then the beach is just 10 miles away and I have fields all around. Having to drive everywhere is a pain (I dont drive so rely on hubby) but when driving 10 miles take 10 mins instead of the 90 mins it took it london its no hardship.

We now have a 5 bed, 3 bathroom, 2 reception, double garage house in a quarter of an acre with a mortgage that we hope to have paid off in two years.

And friends and family? True friends already have their beds booked and family are just the same

Tassotti

So, plenty of advise Littlum's.

No response.

Move out to the commuter belt...very affordable there

For the money you mentioned, you could buy 1 good home and 1 investment property.

Think laterally and achieve all you can

meanmachine_2

I was in London yesterday.

Man, are there too many people on this planet.

You forget just how noisy the place is.

If I had kids, I'd certainly not want to raise them in the big smoke.

Or maybe I'm just getting old. In your teens, London is a faraway dream; in your twenties it's a reality, but you're too poor to enjoy it; in your thirties you realise that trendy bars are full of twenty year olds so you decide to move out.

I'd visit some commuter towns over the long weekend and do some research.

galileo

I would suggest talking your circumstances through with a broker. mortgage calculators may not reflect the fact that many lenders lend on the basis of how much you can afford to pay back as opposed to traditional income multiples basis.

Try London and Country - they are very helpfukl in my experience.

xycom1

meanmachine wrote:

I was in London yesterday.

Man, are there too many people on this planet.

You forget just how noisy the place is.

If I had kids, I'd certainly not want to raise them in the big smoke.

Or maybe I'm just getting old. In your teens, London is a faraway dream; in your twenties it's a reality, but you're too poor to enjoy it; in your thirties you realise that trendy bars are full of twenty year olds so you decide to move out.

:ditto:

Hell yeah.

littlem's

Hello all,

Thanks so much for all your advice, personal stories and thoughts.

We have looked into moving further a field, although we do need to stay in the SE and near to London. It's still very expensive but perhaps as bit more 'do-able'. (Work and family commitments).

Family maybe able to help us with the deposit we need but that isn't confirmed - we can't buy without it. (How else do people buy homes these days????)

We looked into mortgages and found some of the broker's fees along with the 'other house buying costs' makes buying our own home a little harder to achieve as we don't have £1000's in savings!!!

We are really grateful for your thoughts,
sorry we took so long to get back to you, we were researching and looking at properties!

(For Poppy9: On the disability/parenting note: yes I'm restricted in working but not in my ability to look after a child. I didn't want to go into all the personal details but thanks for asking though.)

Thanks again, happy to keep you updated if you'd like me too.
littlem's
:wave: :wave: