Mortgages and planning baby advice please

Money777

Hi,

Is it better to move to a bigger house before you have 1st baby or after?

Me and my partner have mortgage on our house now. We are trying for a baby and have been thinking about moving house as we would ideally like more space and settle there before the baby comes. However we would be able to save more money if we stayed here for longer- also I would be able to take up to a year off work without worrying about money as my partners wage can cover all bills etc here. But we are worried that when it comes to getting a new mortgage for a bigger house with a baby and having been on maternity leave it will be harder... is this so?

I am a nanny so I will be going back to work with my baby so don't have any childcare costs to consider (obviously have baby expenses)

I feel it would be easier for us to get a bigger mortgage now but we would then struggle a bit when I'm on mat leave but if we do it the other way round will we struggle to get a bigger mortgage and wish we'd moved before baby?

Any advice or ideas welcome. Thanks

The_Palmist

No one can predict if it will be easier or harder to get a mortgage in future. If you have even the slightest doubt about your finances, I would strongly suggest you save save save and carry on living in your current house.
Head over Heart.

laurama79

I think staying put for now would be your best bet, you want to be able to enjoy your baby and maternity leave without having money worries. Our house is bursting at the seams after the arrival of our beautiful son (who will be 2 in October) however, we've made do until now as quality of life is more important. We're moving into our new house in September and I am glad we waited as everything has been affordable and we have not stretched ourselves, good luck.

opinions4u

Personal choice.

In my view living within your means, in a loving and caring environment, is better for the baby.

I'd wait - house prices may be cheaper next year!

Peelerfart

"Mortgages and planning baby advice please"

Personally speaking I wouldn't trust any of this lot with planning babies.

I've read a lot of O4U's mortgage posts and they are sound,but baby advice -nah!

:rotfl:

co123456

Choosing a mortgage is like making love to a beautiful woman.

Look at what's on offer. Select which one you can afford. Ask yourself if you want to be tied. Agree on a rate you’re both comfortable with. And if you can’t manage everything, ask your solicitor for help with the deed.




I'll get my coat.

shop-to-drop

On the face of it I would stay put and be able to take the year off if you choose to. However, you may consider childminding in your own home on returning to work so if that is something you choose to do and you would need a bigger home to do it then may be better to move now while you have two incomes.

opinions4u

cheeryoleary wrote: »

Choosing a mortgage is like making love to a beautiful woman.

4 mortgages on, and I can safely say it has never felt that way to me.

And having sold dozens of mortgages, I don't think many of my customers would consider me a beautiful woman either!