We can't afford to live together and have children

LannieDuck

Only read the first couple of pages and the last few, so apols if i'm repeating what's already been said.

As you overpay it, your mortgage will decrease. Your monthly payments will decrease. Hopefully your incomes will increase as you get promotions. If you can afford the payments now (and aren't an imminent risk of redundancy), go for it.

Why pay to rent somewhere when you can be paying off a mortgage? I have friends desperate to get out of the rental-trap who are paying more per month than I am on my mortgage.

With both families close by, would they be prepared to do a day's childcare each week for you? If you (and/or your OH) went part-time, you could both continue to have an income, and if your families help, potentially not need to pay childcare at all.

Childcare costs are high until the child's aged 3 (or 2 for lower-income families), but after that the costs drop off substantially. Childcare vouchers help a lot too.

mrsammyp

I've had to skip the last couple of pages because I can't bring myself to read anymore dribble!

Stop worrying about what will happen in the future, you're 35 and should have moved out of home years ago!

Yes, interest rates will probably increase in the future but what else can you do. You can't live with your parents for the rest of your life! If you can't afford to have children after you have bought your property then you simply can't have children yet. !!!!!! get a grip!

pegginout

Where in the uk do you live?Surely you can ask about to see how much utility bills will be?
We live on less per annum, have a child and mortgage.
Get a grip, get the house and stop being a fanny.

philippa35

If you pay rent, rather pay a mortgage. Get the house first, if you have a child they make it harder to get a mortgage...
Think about parents helping with childcare to reduce costs. You can take a mortgage break for a few years when care more expensive and then when child at school go back to mortgage. Save a little aside to supplement during expensive childcare times.

Mojisola

JPB156 wrote: »

I am 35

we are living with our parents

we have a 40000 deposit

philippa35 wrote: »

Think about parents helping with childcare to reduce costs.

So both sets of parents have supported their adult children into their 30s and now they are going to be expected to give up their lives to become free childminders!

LannieDuck

Mojisola wrote: »

So both sets of parents have supported their adult children into their 30s and now they are going to be expected to give up their lives to become free childminders!

It's only a suggestion, and some grandparents actively enjoy it.

thorsoak

philippa35 wrote: »

If you pay rent, rather pay a mortgage. Get the house first, if you have a child they make it harder to get a mortgage...
Think about parents helping with childcare to reduce costs. You can take a mortgage break for a few years when care more expensive and then when child at school go back to mortgage. Save a little aside to supplement during expensive childcare times.

Parents are already supporting their so-called adult children by giving them a home ....and now you are seriously suggesting that they donate childcare as well? What happens if the parents are still working? Are they supposed to give up their jobs to look after their childrens' children? Or what if they are elderly and becoming less mobile or suffer from ill-health?

Not the best idea in my opinion!

KxMx

I believe OP has already mentioned all 4 parents currently work full time.

Braintree

Guest101 wrote: »

People seem so scared to rent, it's crazy.


Going straight from a managed home to home ownership with no experience of living alone.

They have no idea they can actually live together. Renting at least gives them the flexibility (it isn't all repossession and evictions). I think using the some of their savings to rent for a 6 months-a year wouldn't be so bad.

Caroline_a

I despair of this talk of saving for childcare when the OP and his girlfriend aren't even expecting yet! And as far as we are aware they aren't even trying yet!

I'm thinking troll now...