I STILL want to be mortgage free - 2011!

twinklie

Cheers guys. Even though you think you haven't helped...you have. DH bought this house for 23k 10 years ago. We then remortgaged and mortgage went up to 45k so we could get double glazing, sort damp proofing, roof and outside skins of the house etc. I should point out DH only paid off 1k in the first 5 years before he met me! :eek:

The though of moving terrifys me due to amounts of money involved. But then staying put depresses me. Bah, pros and cons list could be on the way.

twinkle_star_2

Hello.

I'm new to the MFW thread so I'm saying hello and offering my two pennorth!

I have wanted to move out of my current house pretty much since I moved in (OH bought it before we lived together). We looked at moving last year but couldn't afford it as we were looking to move to a pricey area. However, I got the 'I really have to get out of this godforsaken place' bug again and found we could afford to move to a different area. Completion and exchange expected in 2 weeks!

The key was to do an amazing amount of sums. We got a free valuation of our house (valued as is - no work done beyond a paint touch up on the front windows and sitting room) and worked out the expected costs: estate agent fees, solicitors, searches, etc. I then weighed this against what our new mortgage and living expenses would be and it worked out remarkably well. Our new location meant I would make a saving on bus fares alone of several hundred pounds a year and the new mortgage payments would be less than our current one.

You're not in negative equity which is pretty darn good for the current climate and the low housing market would mean that whilst you wouldn't get loads for your current house any new house would be similarly lower in value than previously.

Do the sums before you give up totally!

Lois_E

Hi twinkle_star and welcome to MFW. It's a friendly place. :wave:

twinklie

Thanks twinkle_star....I feel like we must be distant MSE relations with names like ours!! Your post has really given me some food for thought. I shall mention your suggestions to DH. I think in some respects it would save us some soul searching because those things really do give a defo yes or no as to whether we could move I guess.

Done a rough mortgage calculation and we could probably get a mortgage of £156'000....I think we could possibly get a little more in theory but then have to take into account the outgoings we have and debt we already have. It's all pretty interesting.

SuzieSue

Hi Twinklie

I don't mean to throw a spanner in the works, but I can't understand how you can consider moving when it will only be 2 or 3 years until your DH starts looking for a job. I know you hate where you live, but 2 years will go by very quickly (I remember when my OH moved in with me in 2006, we were working out when some of his debts would be paid off and 2013 seemed such a long way away, but now we are only 2 years away from that date and neither of us can believe where the time has gone).

I think the most important thing is that you wait to see where you OH is able to find a job and then you can sell your house and either rent or buy there. If you put your house on the market now and buy where you want to live now, you might end up having to sell your new house with all the stress and expense that involves if your DH can't find a suitable job.

I hope you don't mind me saying what I think.

Suzie

twinklie

No of course I don't mind...I invited opinions. I can see what you mean totally. The thing is, living where I live we have a living room, kitchen, bathroom, bedroom a box room and a yard. It costs me £300 per month in fuel just to get to work and I'm really isolated from all my friends. It's a 40 minute drive to get to them...they all live near to where I work.

What we want is a house with a garden (I've never had anywhere I could sit outside before and grow my own veg...silly things I know), a spare bedroom (for guests) and a garage for DH's stuff (scooters etc - they are stored up at his folks at the minute...not the best situation).

The other problem we have is that more and more of our street is being bought up by people developing the houses into student accomodation and it's becoming a nightmare to try and park here. Also, the houses that have a student house to the side of them have gone down in value....we have a VERY old lady in the one next door to us at the minute (slightly worried what happens when she goes).

I guess things can't ever be easy.

SuzieSue

Yes, the student thing does make the situation a lot more urgent. It's a really difficult one - whatever you do will be a gamble but with all the other reasons you have given, then I can totally understand why you would want to seriously consider moving.

gratefulforhelp_2

just wanted to add to this

wanting to sit outside and to garden are not small or silly things, they are big important things!!

philhews

One of the most relaxing things I can do in my house is to sit in the garden, in the sun, birds singing, looking at my veg with a cup of tea.

Also if it's warm enough then breakfast in the garden is a really nice way to start the day. Never underestimate the delights of a garden!

Courgette

Toughie Twinkle really. We have the same 'to move or not to move' dilemma constantly and it's just been thrown up yet a-flaming-gain by the work situation. I for one am getting extremely sick of being sensible all the time and making all these mid-term plans when they cause short-term pain. Dunno how that helps you though my love