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Am i silly to want to move?!
blushingbride_3
Posts: 1,043 Forumite
Hi everyone.
I want to relocate closer to work, currently i have to drive 45 mins plus to get there & would like to relocate out of the city to a village location closer to my work.
Our house has just been valued at £155-£157000 its a modern house & we converted the garage last year to increase the living space.
we paid £147 in 2006.
Houses in the area we would like to live our £190+ with smaller proportions than the current house, maximum we could spend is £225
We have a good deposit & can afford the mortgage etc i am just worried it s the wrong time to move & we would effectively get back what we paid as the garage conversion was £4000.
We also consider that we've had lodgers since we moved in so have been havin almost 80% of the mortgage paid by them over the years.
Advice would be appreciated
I want to relocate closer to work, currently i have to drive 45 mins plus to get there & would like to relocate out of the city to a village location closer to my work.
Our house has just been valued at £155-£157000 its a modern house & we converted the garage last year to increase the living space.
we paid £147 in 2006.
Houses in the area we would like to live our £190+ with smaller proportions than the current house, maximum we could spend is £225
We have a good deposit & can afford the mortgage etc i am just worried it s the wrong time to move & we would effectively get back what we paid as the garage conversion was £4000.
We also consider that we've had lodgers since we moved in so have been havin almost 80% of the mortgage paid by them over the years.
Advice would be appreciated
0
Comments
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Lets say your £150,000 house increases by 10% in a year. You will have 'made' £15,000. Congratulations and party time!
But, the house you wanted to buy was £200,000. It has also increased by 10%, and is now £20,000 extra.
In this scenario, you got your £4,000 back, indeed you made £15,000. But once you purchased the new place, it will be only then that you realise you made a loss of £5,000.
It's always better to move when prices are depressed, if you can, as the gap upwards is not as large. You can also find a better deal, or 'bargain' - as there's not normally as much competition around in a depressed market.
You may acually find, that by waiting to make back your £4,000 that house prices fall. 'Oh no', is the automatic reaction, but in your case this is excellent news, you would pay less for the new house too!
It's all about percentages!I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
Is this really about moving closer to work or is it more about nesting in a village location?
What happens if/ when you change jobs? Is the new location more convenient for your husbands work too? What about if/ when he changes jobs? What is public transport like in the village just in case your car breaks down/ you break your foot/ you can't afford to run two cars? Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
for me its about getting out of the city :rotfl:
we choose this village because its got good schools (for the future!) & not too far from the city as hubby will miss it!
Hubby is starting his own business so works from home & also works in various locations.
I have a company car & he has a car.
there are excellent buses last one in the evening @ 11pm so could even be used for a night out with the girls.
We've friends who live there already.
its a bigger village than i would want but so long as i get a big garden & access to nice walks for the dog i'm happy
there are good schools, shops, takeaways etc.
Its also closer for my work which will be fab & same side as my parents which will be about 15minutes from this house & will mean that if need be i can work part time when babies arrive as i work with my dad & mum might watch the children, although i am planning on being a SAHM
0 -
Lets say your £150,000 house increases by 10% in a year. You will have 'made' £15,000. Congratulations and party time!
But, the house you wanted to buy was £200,000. It has also increased by 10%, and is now £20,000 extra.
In this scenario, you got your £4,000 back, indeed you made £15,000. But once you purchased the new place, it will be only then that you realise you made a loss of £5,000.
It's always better to move when prices are depressed, if you can, as the gap upwards is not as large. You can also find a better deal, or 'bargain' - as there's not normally as much competition around in a depressed market.
You may acually find, that by waiting to make back your £4,000 that house prices fall. 'Oh no', is the automatic reaction, but in your case this is excellent news, you would pay less for the new house too!
It's all about percentages!
yes this is exactly what i thought & how i talked hubby though whether we sell higher or lower the next house will also be higher or lower
thanks i feel a bit more settled now, we're thinking of advertising with house network for £400 so then we havent lost much if we dont sell
BB0 -
blushingbride wrote: »yes this is exactly what i thought & how i talked hubby though whether we sell higher or lower the next house will also be higher or lower
thanks i feel a bit more settled now, we're thinking of advertising with house network for £400 so then we havent lost much if we dont sell
BB
Thoroughly good idea. Puts you in control of viewings etc. As long as you don't mind managing it, its great. Personally, I will always use a service like this.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
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I believe my friends used them.
Are they the ones that you have access to the online details, and can change the description and price of your house at your own discretion?
I understood that my friends received calls / emails from interested parties, which meant they could deal with people direct. Once a deal is struck, it is just a matter of putting each others solicitor in touch with one another.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
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My views are:
- you'd be increasing the mortgage
- you'd be losing the lodger income
- your husband will be starting his own business, that will need time to grow into a regular/ongoing good income
If your husband's business didn't go as well as expected and if you lost your job (and your company car), you'd be stuck out in the sticks and wish you'd stayed in the town as you'd not need a car to get to work and would have more options available to you and easier access to goods/services.
Also, if this is a nesting moment, you can bet your bottom dollar your husband's new business will hit a lull right at the time the boiler packs up and you announce you're up the duff.
Lots of risks to think about...0 -
On reflection, I do believe it was this organisation.
I had misunderstood the relationship slightly.
You do have access to your adevrtisements like I said above, but any enquiries do get processed through the estate agent as you stated.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0
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