Long term dilemma!

cattie

Are you able to sit back and analyze yourself to see if you are the kind of person who is instinctively hesitant if it isn't something you are 99.9% sure of? I know I am this kind of person and it tends to turn out that when I do hesitate about something and find I need to seek reassurance from other people as to whether it's the right or wrong thing to do, it's because I know deep down that it isn't the right thing for me and that it was my instinct that made me very hesitant in the first place.

Just don't rush into anything. If you decide it's not the right choice for you right now, you can change your mind anytime you like in the following months or years. It's all in your hands and your control.

caeler

Interesting, I'll share my current situation with you. After selling a property and renting for a while I found a nice house to buy. It is smaller than I'm used to (but still 2 bed with a garage/garden) so plenty of room for just me but I do occassionally find myself wondering if I should have gone with something bigger as I'll only want to upgrade again. Then I think well if I stay single then why would I need more space. Then I switch back thinking nicer house and space would be good and something to be proud of. Then I go back to remembering I can actually afford where I currently live and go out occasionally, after struggling for years to get debt free and only have a mortgage I fear not being able to cope financially. No real solution, but thought I'd share so you knew you were not the only one!

michelle2008

I was in the same position as you about seven years ago. Hated living in my flat - neighbours, management company and no outdoor space.

I made the leap to a house and haven't regretted it for a second. I managed to stay quite urban which suits me. Holidays have definitely suffered - but that's life. I have a home that I can see myself in in ten years time so I feel much more settled.

Good luck!!

tomstickland

When you say "mortgage slave" is that because the mortgage will be a difficult amount to pay, or simply that you do not like the idea of such a large debt?

I can afford the payments without trouble - I'm currently paying the same amount per month via overpayments as what the new house would cost to test out the effect.

I'm not looking for someone else to make a decision for me. Just having a good ponder about it. Also, every month that I wait means that I pay more of the current mortgage off which means more deposit for the next one.

I think the main problem is that as the prices go up then you do gain a lot more house for the money. £150K on a terrace versus £190K on a detached makes the terrace seem not worth it.

I am planning on one big jump rather than a series of moves.

I agree about needing to sell my place first.