Advice Please - What to do???

lovethymini

I think you need an option C!

If you really really can't bare to stay there for another year, could you research whether renting your current house out is a viable option?

You could then rent a place yourself for 12 months, then go for a house that you fall in love with the moment you step through the door (and I don't get the impression you've done that with noisy road house)

I'd rather have a small garden than live on a main road with children but that's just my opinion, obviously!

We moved into rented after selling our house last year.

elspeth240

lovethymini wrote: »

I think you need an option C!

If you really really can't bare to stay there for another year, could you research whether renting your current house out is a viable option?

You could then rent a place yourself for 12 months, then go for a house that you fall in love with the moment you step through the door (and I don't get the impression you've done that with noisy road house)

I'd rather have a small garden than live on a main road with children but that's just my opinion, obviously!

We moved into rented after selling our house last year.

Thanks, I suppose this would be an option but then I'm worried that prices may drop significantly again and then I don't have as much deposit. At the moment with the current offer (more than our house is worth), we just have 25%. If prices drop then we wouldn't be able to afford similar size house.

Also, it's not a main road, just used as a cut through for other people who live on the estate so not too much traffic. There is a cul-de-sac directly opposite and the back garden if fully enclosed with a 6ft fence.

lovethymini

If you're worried that prices will drop significantly, overpaying for a newbuild probably isn't a good thing to do! If this happens, that house you're considering will definitely lose at least another 10k to be below the stamp duty threshold of 250k

Don't forget, every time you buy a house there's the cost of buying it - you'll need about 10k to buy the bigger house, plus costs of selling your current house.

What do you think is the best solution financially?

elspeth240

That's just it, all the costs are included as it's a p/x.

Financially, it's a gamble. I may get a better deal if I sold my house but I would have to sell for 10-15k less than I've offered but then the house I would then buy could be 20-25k less but with all the extra costs of moving.

lovethymini

Maybe going for a 2nd viewing could help you work out whether you want to go for it or not then