Downsized and feel relieved , highly recommend

alanco15

Hi all, thought i would share how i reduced my debt considerably without major life changes , and never looked back.

We lived in a four bedroom house , 2 adults 3 kids, so all have there own room.
Mortgage of £740 p/m, i hated having that hanging over me for the next 20 years.
So started looking at 3 bedroom houses, same town , just under 1 mile away so no major life style changes
I specifically looked for 3 bed with attached garage, ripe for garage conversion
we found a lovely house in need of general updating nothing major, with ideal garage
So have now moved , converted the garage , mostly by myself, using the odd electrician etc, total cost to convert around £3500

End result this house is Approx £95,000 cheaper than my old house :eek: Mortgage now £280 p/m
We love the house , and feel much more content, and when the eldest moves out still have the option to reinstate the garage if required.

I would highly recommend any one in similar position to explore this option, not sure if it would still work going from 3 bed to 2 bed, dont see why not,
But has been highly effective in reducing debt very rapidly

good luck all you debt free wanna be's, now looking at next idea to lose the final bit of mortgage, i'll keep searching the forum :beer:

brizzledfw

Well done, sounds like you've made a great decision