'Home for Life savings pot'

Dreamers

Well,

I don't know where to start :$

My husband and I have been insprired many times by reading all the great posts on hear so we've been motivated to set our own target and hope that keeping a diary of it will keep us motivated.

We have been married for just over a year and moved out to Dubai temporarily a year ago. I say temporarily because we initially moved for my job on the basis that we would stay for the 2 yr duration of my contract and so I could pay off my Loan and credit card debt.

After spending a year abroad we have grown to love the laid back lifestyle we have and would ideally like to stay abroad (in Dubai or another country)for another 4/5 years or until we begin to miss home too much! There are a few things that could impact on this though, which include things like job stability/satisfaction and whether we have children and want to bring them up in our home town in the U.K.

Since returning to the U.K for the summer we have thought a lot about the different possibilities and where we might like to be in the future. With that in mind, we have found a location close to where we both grew up which we would like to buy a family house in. The particular village we would like though is more expensive than other villages around and so we would need to save £300,000 to put towards the £200,000 equity we would have if we sold our current U.K property.

We have decided that , all being well we would like to have our first child in the next year or so. If that happens then we would like to return to U.K when that 1st child reaches school age (although we could be flexible on this). This would give us a approximately 5 years to save the money we need. We think this is probably very unrealistic but we are going try our best and see what we actually can achieve.

We need to look at our outgoings and incomings carefully and see how much we can potentially save. Watch this space...

cupkate

Good luck with your plan. I hope you succeed. (Please send some sunshine from Dubai. Am fed up in wet Scotland)

Lois_E

Hi Dreamers and welcome to MFW. It'll be interesting to hear from someone living a rather different lifestyle from most of us back here in the UK but nevertheless on the same quest for mortgage-freedom.

Good luck.

Hurdler

Well you definitely brought us the weather!!! It had been scorchio today!
Looking forward to reading your progress!

Dreamers

Thanks guys for all your positivity. Just over a year ago we were both made reduntant from temporary contracts and job opportunities were very scarce, so much so that we would have had to consider moving to a different part of the U.K to find other jobs. After a few weeks looking for jobs in our area we decided that if we might have to move to a different part of the country we might as well move to a different country!

So that's what we did. Fortunately, we don't have any children so at the time we were not tied in that way and only had ourselves to think about. Luckily after a year of many ups and downs we feel settled in dubai and it has worked out for us. I still don't fancy my chances of getting a job here as opportunites still seem so few. We are hoping to ride it out in Dubai or perhaps somewhere else until things pick up a bit in Britain.

We're planning on looking seriously at all our finances early on next week after what will be an expensive weekend (both have stag and hen dos)

We will keep you posted