To move or not to Move???............ Out of London

getmore4less

In addition to your primary requirements

I would check out areas that have jobs for you.

£10ph is not a wage you can have an expensive commute with

hazyjo

FYI also on the relationship forum https://forums.moneysavingexpert.com/discussion/4915325

Jx

Ivana_Tinkle

We moved out of London 18 months ago, and it's a bit sobering to realise that already the house prices have moved so quickly that we would have no chance of ever buying our old house back. Luckily I have no wish to return, but I'd say that if there's any chance you might want to move back you should perhaps look into renting out your house in London, or some similar plan that keeps your options open.

jayss

You're not crazy but you're kids are at difficult ages to move schools, you can't easily move schools between year 12 and 13, but you also won't want to move your middle child after they start year 10.

Also outside of London how consistent is the demand for your type of work?

pcgtron

I would recommend Milton Keynes or Bedford.
Both commutable, but not on your wage. Some people will dis MK but generally those who have never lived there.

Jenniefour

OP, please don't forget that you can browse Rightmove almost anywhere 50 miles or more away from London and be amazed by the property prices. Generally, the further away you get the greater the price discrepancy. Try not to get too carried away and caught up by that. The price difference is only going to get wider. You could even go somewhere north and become an instant property baron with the money you would have - but usually not nice places to live.

I browse Rightmove regularly - not only local market but outside London in places that I like and know. It's very nice to sit here dreaming about living in a big flat/house on the south coast. It's nice entertainment. But I know I don't want to leave London at the moment.

Yes, London prices are rocketing and I think that will go on for some time - that, by itself, is no good reason to move out of London. For some, it's a reason to stay or stay longer.

Give some careful though as to whether you want to leave London or is moving out one way of lessening the financial pressure. If it's the latter that's driving your thinking at the moment I would be inclined to first exhaust every possibility of increasing your income to see if you can make staying in London work for you. Nothing, short of winning the lottery, is going to earn as much wealth as your London house. It's probably increasing in value more than you earn. As others have pointed out, the wage you earn now puts you out of the running for commuting - you would have nothing left to live on.

I'm not saying don't do it, I'm saying test out your ideas first before making any irreversible decisions. You need to make sure, as a far as possible, that whatever you decide it's right for you and your family, and you're not going to regret it later on.

Some friends of mine sold their London house, a lovely big family home, years ago to go and work abroad for a few years - when they got back they could only afford a two bed flat and had to take out a mortgage to do it - and they were relatively high earners. In this crazy market it takes a lot less than a few years to be priced out - possibly only months at the moment.

Jabberwk

Rents in London are also pretty high. Would it be possible to rent your current house out for year or two to fund renting a place in your pastures new. That way you would have time to find out if the new place was right for you, without having made quite such a huge commitment.

Jenniefour

Jabberwk wrote: »

Rents in London are also pretty high. Would it be possible to rent your current house out for year or two to fund renting a place in your pastures new. That way you would have time to find out if the new place was right for you, without having made quite such a huge commitment.

Good idea - one way of testing out living elsewhere without burning bridges.

On LBC news this lunchtime - rents forecast to go up by 20% in next two years in London

Anon113

I had a look at renting and it wouldnt be much use renting out my house and staying in this part of London, but moving somewhere cheaper could work. Plus I like the idea of "try before I buy" and work out whether we want to stay put or move.
Thanks everyone.......:)

Fraise

As others have rightly said......if you move out of London you'll probably never afford to buy back in, and that's all of Greater London and the suburbs too, as this London bubble has rippled out wards. So basically anywhere within the M25 is like sitting on a gold mine.....the prices are just going up and up.