Rent or buy?

Spendless

ALL of my friends who privately rent, have had to move on when the LL decided they were putting the house up for sale, or over a dispute about repairs. Nowadays it seems a completely different kettle of fish from the privately rented house that was my first home as a child and my Grandparents lived in for 18 years, only moving out due to medical need.

I wouldn't sell my house and rent. I *might* rent my house out in order to rent a bigger one. Taking into account the rental market where I lived and weighing up the pros and cons.

I'd also look into doing something with the house I already had. I know you've ruled out the extension you once considered, but what about other options? There's a woman on my street same size house as me (3 bed semi) who has recently had her 5th child, 2 boys and 3 girls. I bumped into her recently and queried how she made it work. She said she had put all toys into an added on downstairs room and the bedrooms were purely for sleeping in. At 10 your eldest is at the top end for having 'loads of toys'. We recently cleared out my 10yo's bedroom and half her stuff went. We'd have cleared more but she's a hoarder, so want to do it gradually so she doesn't notice as much.;) Her favourite 'plaything' is her ipod touch, which takes me very little space. Her 13yo brother's fav thing to play on is the computer! We have a summer house in our garden, that serves as an office for husband to work from home, but both kids can and do use as their own space.

Ophelia_10

Following on from 'Spendless' comments regarding a summer house - that is a really good idea and something I've been pondering over. If you have garden space, there are some amazing log cabin/summer houses that can be used as extra space for toys or office or even a lounge area to relax in - it's worth looking into, they are very popular at the moment and versatile.

I agree that it would be a big mistake to step off that property ladder and would look into renting out yours rather than selling, and then rent one yourself.

aliasojo

mummyroysof3 wrote: »

I totally agree with those saying we would be crazy when you think about financials and security but we do need something bigger sooner rather than later so may have to make that compromise

Now I'm happy for you to tell me to shut up (honest ) but I honestly think you're just not thinking as clearly as you maybe should, just because right now, you're struggling with the thought of lack of space and the issues involved with that when you have kids.

Space seems to be your uppermost need right now, but what happens when you get that space and you end up on notice to quit and you have to move again? Will the space still be worth it then or might you think security is more important at that point?

I know there are quite a lot of people who do live in the same rented accommodation for years but these days that doesn't seem to be the norm.

Our economy has changed, people generally don't have the same job security as they did years ago. Someone who moved for work and was never coming back...may end up having to come back simply because of finances. You can't claim housing benefit for a rented property if you own a house elsewhere so your potential LL may have no choice but to serve you notice so he can live there again himself.

Obviously this is only one scenario but I know of 3 people this has happened to in the last 12 months.

Just try to keep an eye on the bigger picture. Space means nothing if you only get it for a short time.

I agree with Spendless, thorsoak, et al and really do think you should think of every possible alternative to making things easier in your own place first.

Wish you luck with whatever you decide. :beer:

mummyroysof3

Thank you for all your comments and I'm taking them all on board just still confused about what to do for the best ATM. At the begging of may we lost out on buying a house that would have been fab except for the small garden then we lost out on another house that wasn't as fab as needed more work and then lost our buy so its put us off selling and buying. I've looked into the options for loft and 2 story extension and loft due to layout of house would cost more than it seems worth to pay for a box room and all the hassle to do it. Extension costs more than they might let us add to mortgage and would lose parking round back and mean daughters box room might not end up any bigger but a funny shape. Plus the 3-4 months of living in mess to add to our stress. I just wish there was an easy option but there isn't.

notanewuser

What is it you actually need space for? Could a garden room take things from the house to make the space you need?

mummyroysof3

We need to separate the 2 boys at night as youngest with a disability disturbs the eldest.

notanewuser

Your listing has no floor plan. Do you have one?

CH27

Think long term.
The boys are getting older & will need less stuff & what they have will be smaller.
They will move out to uni before you know it & you will be left with no security & all your lump sum spent on rent.

I think you need to work out the best use for the space you do have & compromise that way.

Mongrel

I may have overlooked posts similar to my own, but is it not possible to look into using a downstairs room as a part-time bedroom for the adults of the house, that way you can give the two boys their own space? It would be an adjustment, but it's what my parents did while they were waiting to find the right house (and we rented, it was a case of finding a 3 bed house we could actually afford). It's not a fashionable thing to do, but it gives children space without moving into the private rented sector which can be unpredictable.

Yes some people rent the same house for decades, but most people I know have moved on within 1-2 years due to landlord pressures or finding themselves frustrated with contracts stipulating what they could (not) do in the house they were paying to live in.

thorsoak

mummyroysof3 wrote: »

We need to separate the 2 boys at night as youngest with a disability disturbs the eldest.

What is the age difference between DD and oldest son? Could they not share a bedroom? Let youngest boy have smallest room - or does he need medical equipment that would preclude him using tht room?