Our attempt at being MF!!

pammyj74

I never thought of that LP. My kids will be at senior school in 3 and a bit years and I will probably be working more hours and less childcare but there maybe other things to account for then lol, they get older and cost more!

CathT

Thanks for all your input.

Main drawbacks are:
1) increasing mortgage from 118 to around 140k
2) Not as good an area as we are in but still fine, as it is a new build it's not really in an established area iykwim but between places
3) at the moment I live right by my mum and she pointed out not being able to pick up DD from school etc but no reason she couldn't and DD could possibly still go to that school anyway? My mum rarely looks after her anyway so I don't know why she pointed that out as an issue!
4) not a huge amount of downstairs living space so we would have the playroom upstairs in one of the spare bedrooms
5) would delay TTC is not already happened due to decrease in wage

Positives
1) new build - no little maintenance
2) 4 bedrooms
3) immaculate clean home
4) more energy efficient, reduce bills in long run
5) DH really wants it - willing to sacrifice sky sports and movies etc.

He felt if we struggled we could reduce his personal allowance (never worked with the new car though!)
He sees it as an investment, in truth it is probably worth closer to 200k. If we didn't have another baby our nursery costs would reduce in a couple of years saving us around £150 a month. I also am newly qualified in my job and have just enjoyed a 6 month payrise, get another in 6 months and then yearly. Additionally would get any inflation based rises.

Tbh, i really don't know how to come to a definite decision, yes it's a risk and if rates go up it will be a nightmare but that applies here too. Although I did work out that after paying everything except CC repayments we would have around £550 a month left over.

CathT

for the record our income is 40k joint, i wish it was one salary! maybe for me it will be in years to come!

LilacPixie

so you take home monthly will be a touch more than 2400 a month as you will have the use of 2 personal allowances. see positives in everything. If builder struggling you might be able to squeeze a bit more out

TBH I think no matter the enviroment its a risk, quite alot of us MFW are in a precarious position if we lose an income, I think OH needs to lose his 'allowance' and you need to consider what if any impact maternity pay would have on you.

CathT

We have decided to go for the house :eek:
Discussed lots of points you all raised with DH and then I said well if we stay here how will we fund the improvements which would inevitably have to be a loan so moving makes so much more sense.

I think depending on what mortgage we get offered we would put it back over 25 years for now in case rates rise and massively overpay while we can - am thinking 300-400 a month the first few months. DH said he will only reduce personal spends if we struggle! He does buy food shopping etc out of it at times but a lot of it is unecessary really.

In all honestly I'm not sure our house will sell in time. We are only selling to buy this particular house as price wise can't get a 4 bed detached in immaculate condition for £175,000 anywhere else. But what is meant to be will be and I do love living here so we will crack on with home improvemens with what we have saved in preparation for the move.

I will only lose the cost of the energy report by putting house on market so not a huge risk.

£25 arrived from Amazon today so have transferred that to savings. Mum still owes me £40 and I have £50 in my purse the builder didn't need for the window so not spent very much since payday!! :rotfl:

Day off today and don't plan on going anywhere due to the snow, have a parcel to post and one to collect but don't want to take DD out so will get DH to go in the morning! I can't even be bothered to wheel the bin out!

CathT

A prett constructive morning so far. DH rang to see if i'd made up my mind about the house and was really pleased with my decision. Snow has stopped, i've done quite a few one-poll surveys and a couple of others. Bathroom cleaned, upstairs tidied (plan to find some items for a charity bag and some for ebay - wondering if board games would sell?), washing away (my least favourite job), another load on. BIN OUT! - i braved it!

Have an item ending on ebay soon so will need to get that ready for posting tomorrow. Am also selling a pair of Clarkes trainers but they end soon and not even got any watchers!!

CathT

Item sold for £4.70 so get that sent off tomorrow providing they are prompt payers. Feels a bit odd not sending all spare bits of cash as OP's now but transferring them to savings instead! perhaps i can offset it to make me feel better.

LilacPixie

Cath - do you have adequate stocks for Mr ClearBlue?? I have a digital test with 'conception indicator' in bathroom cupboard i'd be happy to fling in post box for you.

CathT

I have one as i used one when i tested too early! If you aren't going to need it that would be very kind. I take it you won't be needing it again in the future then?

newgirly

Wow, you have so much going on at the moment! I think you have definatly made the right choice to move, the difference in house price is not massive it just goes against your MFW ways to up the mortgage, but in this case it really sounds like it would be well worth it for what you are gaining. I just wish I could get such a fantastic house for that price here, its not fair!