New Diary - pre mortgage, MFW

Indecisionismymiddlename

Hello

Firstly let me introduce myself. I'm 40 and have two children and a husband. We're both self employed.

We live in the south west and have been living in a rented house since 2007 when we sold our own house at the top of the market (valued / sold summer 2007).

We would really like to buy our own house again but for several reasons (mainly indecision!) haven't done so yet.

Now we're really focused on doing it but have to move again first in the next few weeks in to a different rented house which is really frustrating but that's life.

I'd like a £200,000 deposit / stamp / solicitors fee pot and we'd like to move before Christmas this year.

We've got a lot to do in a very short space of time and I thought it would be good to have somewhere to record my trials and tribulations.

We used to have debts etc but now we have savings. lovely what a bit of focus for 2 or 3 months does for you.

It's a massive job and I'm really worried we won't manage it but here goes. Any support gratefully received.:cool:

julliff

Hello IIMMN

Wow,a £200,000 pot! That is a lot of money. Are you using the equity from your house sale for the majority of this?

How much are you looking to spend on your new house?

Anyway, good luck with your journey!

originalmiscellany

Welcome to your new online home
I'm sure you'll be made to feel welcome here...
With 200k deposit you should be able to get a decent bank rate, even if you're planning to buy quite a special house in the home counties, which is good news for you...
To help you, what are you immediate jobs to do, i.e. by next Friday, and what are your medium term ones, say by the end of May? By posting here, there will be some accountability to ensure that you stay on track.

But I look forward to tracking you ups and downs over the coming months.

Indecisionismymiddlename

Hello

So lovely of people to reply. Thank you.

Yep, the £200 is our money from our last house but we've put it n the business and I want it back! It's whether it's giving it to me that's the issue :eek:

It needs to go back in to a house as it feels like if it doesn't then we've wasted it.

We're not home counties, just the south west.

The problem is that there aren't a huge number of things we can do. Pray the business works and it coughs up.

On a more practical basis, we've really trimmed the monthly outgoings and appear to be able to save around £750 a month so I'm working hard on that - getting the bills down and reducing the food expenditure.

We're having to move to another rented house and to be honest I'm not going to enjoy living there much but it's cheaper and the difference is helping us to save that £750.

Part of me thinks that there's little point being so careful with the money we give ourselves as wages because it's a tiny amount in comparison with what i'm trying to save.

In reality that's a stupid theory so i'm going for the look after the pennies and the pounds will look after themselves theory instead.

So my main targets are:

1. Move as cheaply as possible, doing it all ourselves.
2. Keep careful spending diary as this seems to be the best way to keep to your spending targets.
3. work extremely hard, making careful decisions about spending within the business without choking it.

We really have to do this so I'm totally focused. However, the main problem is that it's making me quite depressed. I'm finding it hard to find a way of doing this without obsessing. Anyone have suggestions of how to avoid this trap?

Indecisionismymiddlename

cost us £400 to take on the new house - £400 is an amazing amount of fees - they really see you coming. now we've got to pay the 1st month's rent and the deposit before we get the deposit back on this place but thankfully it's come out of our month to month savings and we will be able to put it back using the larger deposit we paid on this house.

i have to admit that I'm rather depressed at the minute. Finding it hard to cope and am wondering whether CBT might be a good idea.

I'm a little ray of sunshine!

cha97michelle

It does sound like a big task ahead for you, but you are in good company here. I find keeping a diary is a great way of evening out my moods as there is always someone offering support and common sense. I wish you luck in your challenge.