Can't Buy / Can't Rent

Pete9501

The bond might mature just as his children reach double figures and he needs extra cash to move again. You might just tempt him and the Karma he gives will come around to benefit him in the future.

Bantex_2

pollyanna24 wrote: »

Watford. Where I am living at the moment.

Loads sub £200k in Luton. Not far away.

pollyanna24

Cisco001 wrote: »

I suggest you go for 1 bed flat option.
By the time they get older, may be teenager, you don't have to rely on your mum for child care, and you will be able to get full time job and move to less expensive area.

Yeah, this is what I was thinking. Get a big one bed (or at a push, maybe a two bed).

Then when they are starting secondary school, move somewhere cheaper.

Although, do I move when the older one starts senior school or the younger one?!

pollyanna24

Bantex wrote: »

Loads sub £200k in Luton. Not far away.

Bought my first house in Luton. And is the place I'm thinking of going back to as it is still relatively cheap.

However, need my mum for childcare and she doesn't drive.

Travel costs were extortionate to London when I bought there in 2003 (£300 a month), so dread to think what they would be now.

And I don't think it's feasible me moving jobs. I have a good boss (planning on asking for a raise in December) and have flexi hours and the option of overtime when I need it.

stator

Would you qualify for another shared ownership deal, perhaps a new build? So you would mortgage 50% of the property, the developer/housing association owns the other 50% and rents it to you. After a few years you can buy extra shares in the property.

eg
http://www.rightmove.co.uk/property-for-sale/property-32020686.html

Jagraf

At the moment it appears you want to keep your equity, have free childcare, and work part time as the kids are young. Maybe you will have to forego one of them.

Sounds like you are in quite a good situation really. If I were I your position I would probably work full time, your mum could help with part time child care, and they could go to part time nursery (or maybe they are both at school now?) . This gives them time with a family member and also time with others to get the, ready for school. Then you could take on a decent mortgage and put your equity into the house.

Or move your mum with you as well

Okydoky25

Quick search on rightmove showed up 16 2 bed flats in Watford so they are there.

Francesanne

pollyanna24 wrote: »

Thanks. Not that easy to just get a better paid job though is it? My job pays okay, but I'm only part time at the moment, kids are only small for a short time, right?

Have also thought about moving in with the parents, something to think about. Bit far from girls' school, but hey ho.

And yea, quite like the idea of a 1 bed flat, but people have tried putting me off it, as in when girls get older, won't be practical, or will be hard to sell when I need to etc.

Many years ago we knew a couple with 2 boys. They lived in one bedroom council flat. Not ideal but they lived there quite happily.Boys shared bedroom and parents had sofa bed in living room. Might be your best option for time being. Good luck & hope it works out for you.

Jagraf

Francesanne wrote: »

Many years ago we knew a couple with 2 boys. They lived in one bedroom council flat. Not ideal but they lived there quite happily.Boys shared bedroom and parents had sofa bed in living room. Might be your best option for time being. Good luck & hope it works out for you.

Not sure they would be top of the list!

We lived as a family in a two bed lat or two years (private rental). Was lovely, part of a big mansion house.

Cautious_Optimist

Francesanne wrote: »

Many years ago we knew a couple with 2 boys. They lived in one bedroom council flat. Not ideal but they lived there quite happily.Boys shared bedroom and parents had sofa bed in living room.
.

Is that legal?
Is it not over crowding?
Didn't the council offer them a larger place?