Is it worth leaving the property ladder for 2 years?

bitsandpieces

92203 wrote: »

I know that whatever we decide, it will be wrong. If we stay, I am very worried about what will happen if interest rates go up and how we'll cope, if we go, I'll be worrying about how we manage to buy our next house

Easy for me to say, but try not to panic too much about things. You're actually in a pretty good position. Whether you move or stay in the property, you're facing questions about what will be a good investment, whether you'll need to cut back on some luxuries, etc. Whatever you decide, it likely won't be catastrophic - people make sub-optimal decisions all the time, but that doesn't stop them building good lives for themselves. You'll need to decide - but the options you're thinking about seem sensible enough and, even if you choose wrong, you and your girlfriend should be able to recover.

A couple of other things. If you'll be landed with the Estate Agent fees, that might also be a factor in your decision - but it would be worth checking this out before paying anything. Also, if it's 20 miles, is your girlfriend riding in by bike an option?

sjcollett

I note your mortgage is £400 per month. if you were to sell up and rent instead what sort of place do you feel you would get for under that amount (otherwise is it really worth losing the money you orginally paid for the house). I'm not sure it's the house that's the problem (you will always have to pay for somewhere live) I think perhaps you have decided you want to move and this will be the solution - although I am not sure what problem it is solving - sounds like you need to do some more soul searching to me (IMHO)