MFW Diary - Take 1!

Calfuray

Hey SSS Thanks for posting.

I have pretty good security, and if not, a wanted skillset. But, you are completely correct. I forgot to mention this in my original post: OH will still work where we currently are, and I don't plan to stay at this place for the rest of my working career, so the plan is to move to a town between Glasgow and Edinburgh. The particular train station is on the express line between those two cities, so would cut my current commute to around half, and only increase my OH's by about 20-30 minutes.

The work prospects where we live are pretty poor, but moving to this new place would be the best of both worlds - relatively close for both of us, and more value for money than Edinburgh!

Formidable earning machine

Not to put more preconceptions on where we live just now... but it's not the best area. We have had issues with anti-social behaviour, including damage to my husband's car. I wouldn't really feel comfortable letting this place out, and not at all trusting that it wouldn't get trashed. On the other hand, the mortgage is so low that it would cost us a lot more to rent, money we could be saving to deposit.

Glad to hear you confirm what I thought - I think I would prefer the smaller hassle of renting short-term compared to trying to line up the timings perfectly. Once we were renting, that would give us a chance to know the area we would be moving to better and make sure it was definitely for us

I believe Ed's has gone unusually smoothly just because of the area of Glasgow he is in, but I guess time will tell?

Thanks for keeping me company, I will try and post and update more

SuperSecretSquirrel

Sounds good. Buy an affordable home between two major cities with good rail links, plenty of options regards work, reasonable commutes. In the short term sell up and move into rented and look forward to being treated like FTB royalty when ready to take the plunge and buy the next place. Makes sense to me

House buying and selling chains seem like a real hassle. If you've found the absolute perfect house and everything is in place, but your buyers fall through, you risk losing the perfect house. If you've been struggling to find a buyer and all of a sudden have one that requires you move fast you might end up buying a compromise house just so as not to lose the buyer. Without a rented stepping stone it won't ever be as stress free as being a FTB again. Of course in a rising market it can be costly, but time it right when prices are falling and you could be quids in! Sadly timing the markets is pretty much impossible, so you won't know if the gamble works out in your favour until it's already too late to do anything about it!

Calfuray

SuperSecretSquirrel wrote: »

Sounds good. Buy an affordable home between two major cities with good rail links, plenty of options regards work, reasonable commutes. In the short term sell up and move into rented and look forward to being treated like FTB royalty when ready to take the plunge and buy the next place. Makes sense to me

House buying and selling chains seem like a real hassle. If you've found the absolute perfect house and everything is in place, but your buyers fall through, you risk losing the perfect house. If you've been struggling to find a buyer and all of a sudden have one that requires you move fast you might end up buying a compromise house just so as not to lose the buyer. Without a rented stepping stone it won't ever be as stress free as being a FTB again. Of course in a rising market it can be costly, but time it right when prices are falling and you could be quids in! Sadly timing the markets is pretty much impossible, so you won't know if the gamble works out in your favour until it's already too late to do anything about it!

This is what I have to convince the OH about now!

Saving is quite boring. I just want to go on holiday

Calfuray

Payday today, deposit now stands at 3k. Think I'll put it in my signature for some motivation. As well as actual deposit, need to save for the dreaded fees _pale_
I have a lot of reading up to do. I got my first mortgage when I was 19, and I don't think I paid enough detail to everything that was going on, I know we'll need to save for product fee, home report for selling this place, surveys for new place... Oh and solicitors because Scotland.

Going back to work after a week off and it's quite painful I love my work but the commute; ow.

Have also decided that if we are not in position to move house yet by Nov 2015 (after a year of saving >50% my wage) then we will go on holiday. It's kind of counter-intuitive, but as Fortune would say, lilies and loaves.

Hope Monday is kind to you!

Cal

Calfuray

Hey all,

Nothing to report but I thought I would post anyway cause all I'm doing is lurking right now!

Deposit fund at £4550.00 and is now pride of place in my signature.

Hope everyone is doing well

edinburgher

Are you looking in Falkirk?

Calfuray

edinburgher wrote: »

Are you looking in Falkirk?

I guess I wasn't being as anonymous as I hoped! Why do you ask?

edinburgher

Calfuray wrote: »

I guess I wasn't being as anonymous as I hoped! Why do you ask?

You said in the middle of Glasgow and Edinburgh, it's on the train line, your deposit target isn't mahoosive and we'd considered it for ourselves in the olden days when Mrs E had to split herself between the two cities for work. Don't worry, I just have a Scooby Doo like brilliance when it comes to detective work :rotfl:

Calfuray

edinburgher wrote: »

You said in the middle of Glasgow and Edinburgh, it's on the train line, your deposit target isn't mahoosive and we'd considered it for ourselves in the olden days when Mrs E had to split herself between the two cities for work. Don't worry, I just have a Scooby Doo like brilliance when it comes to detective work :rotfl:

And I would have have gotten away with it too, if it weren't for you meddling kids!

_________________________________

It's so cold!

Not much to report, have been huddled up watching TV, reading books, generally relaxing. Commuting is taking it out of me, I need energy to do things again.

Deposit is now £5,550. Feels like a long way to go!

Hope everyone is warm and inside

Cal

edinburgher

Today is rotten weather wise. Was meant to be going out jogging, but as I couldn't stand up straight in the wind, thought it best to pace the remaining 2,000 steps around the living room