Selling up .... two choices/options ?

laura2506

My husband and I moved in to a 3 bed semi in March 2006. We paid £125k for it as first time buyers. ( 100% mortgage as hubby is a graduate )
The mortgage fees are steep but we can cover them. However, we are not happy in the house. Numerous factors, but mainly troublesome kids.
We are considering putting the house on the market ( in the hope that we can make some money on it ).
We are considering either looking for somewhere cheaper ( but this will be tricky as £125k is about the going rate for more 2bed+ houses ) or we were thinking of selling up, saving what profit we make ( if any ) and renting for a couple of years in the hope we can save a good deposit for when house prices go down ( if ever ).

Anyone out there done what we are thinking of ? Any advice ?
Like I say, we were first time buyers. We kind of rushed in to it. We love having our own home, but are not happy where we are.

leftieM

If you don't like where you live then you'll have to something! Could you rent out your house and rent somewhere else for yourselves until you are free of the mortgage penalty period?
What sort of profit, after fees, do you think you would make? If you buy another house I'd imagine most of your equity would be eaten up by fees. It depends on how much your house has risen in value.