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chelseablue
Posts: 3,303 Forumite
Im sure there's no definite answer to this but just wondering what others advise
Currently live in a 2 bedroom flat with my partner and son, we would like to move from flat to a house.
Going by current prices round here we would need to save up another £30,000 roughly to do so.
But what if by the time we've saved that amount prices have gone up even more?
Is there a point where you just stop saving and go for it, maybe having a bit more of a mortgage than originally planned?
Currently live in a 2 bedroom flat with my partner and son, we would like to move from flat to a house.
Going by current prices round here we would need to save up another £30,000 roughly to do so.
But what if by the time we've saved that amount prices have gone up even more?
Is there a point where you just stop saving and go for it, maybe having a bit more of a mortgage than originally planned?
0
Comments
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If a bigger mortgage won't put you in financial difficulty go for it now.:j Trytryagain FLYLADY - SAYE £700 each month Premium Bonds £713 Mortgage Was £100,000@20/6/08 now zilch 21/4/15:beer: WTL - 52 (I'll do it 4 MUM)0
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I just did this.
Nigh on doubled my mortgage to do it though.
Dont regret it one bit. I realised early in life that the mortgage payments would probably be with me until retirement so have made peace with that.
House price increases round my way far outpace any savings I could manage so it made sense.
Our house has probably gone up £50k since we bought it about 7-8 months ago from looking what is available at the moment - I wouldnt get close to getting it bought if I had waited until now.0 -
Currently my mortgage is £475 a month.
We originally said we didn't want mortgage payments on a house to be more than £700, might have to stretch to £800 a month now :-(0
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