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Live mortgage free but unhappy with house or buy dream home and have debt?

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  • KL0001
    KL0001 Posts: 92 Forumite
    Third Anniversary 10 Posts
    50k is a lot for renovations. We!!!8217;re about to buy a 1960s bungalow that has had no work on it in since it was built, for that were budgeting less than 40k and that includes new windows, getting a gas supply to the house, new gas central heating system, re-wiring, new kitchen and bathroom as well as general renovations (ie completely gut out and redo). Granted my husband is a heating engineer so, and generally very handy so we will be doing what we can DIY, but will still need professionals for the other big jobs. With a budget of 450k for the house will you really need to do that much work?
  • vw100
    vw100 Posts: 306 Forumite
    Sixth Anniversary 100 Posts
    edited 7 June 2018 at 4:47PM
    Long term unhappiness and stress sometimes, I would say mostly takes its toil on the old health front.


    Make the move I say, you are young enough and 200k is not a huge mortgage but also not a small one.
  • Ithaca
    Ithaca Posts: 269 Forumite
    Fourth Anniversary 100 Posts
    £200k over 25 years is £819 a month (@ 1.7% interest).

    Do you think your mental well-being is worth spending £800/month on for another quarter century? That buys a lot of weekend breaks and trips out!

    It depends what is bothering you about your current house - even £500k houses can have inconsiderate neighbours and a nice area can go downhill.
  • Jojomissy
    Jojomissy Posts: 91 Forumite
    Eighth Anniversary 10 Posts
    Yes £800 a month does pay for weekend breaks and time away which was exactly what we was doing spending a fortune every weekend to get away from the neighbours. Another way to think of it though is most of that £800 would then be paying down an asset and you don't feel the need to escape every weekend.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    amyk01 wrote: »
    the house has a poor layout

    Change it. Far cheaper than moving.....
  • Gwendo40
    Gwendo40 Posts: 349 Forumite
    edited 7 June 2018 at 6:31PM
    The issues you've highlighted with your current house don't really sound like they would lead someone to be ''got down daily'' with them, unless the area is so bad you risk getting stabbed every time you leave the house and the shared driveway results in regular screaming matches with your neighbour?

    Could it be there might be a certain level of dissatisfaction with other aspects of your life in general and you're focusing and dwelling on the issues with your house?

    You could find you upgrade to your ''dream home'' and take on a big mortgage to pay for it and STILL find you're not entirely happy with your lot.
  • ThePants999
    ThePants999 Posts: 1,748 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    We're mid-thirties, with children. We have a mortgage of well over £200K "hanging over our heads", and it will be for over 30 years, never mind 25. And you know what? It's absolutely fine. I don't spend my life fretting about this debt, I spend my life enjoying what it got me.
  • YoungBlueEyes
    YoungBlueEyes Posts: 4,905 Forumite
    Tenth Anniversary 1,000 Posts Homepage Hero Photogenic
    Or.... could you move to somewhere that has a house you can afford to buy with a layout that suits you and still be mortgage free?
    I'm unsure about my spine, I think it's holding me back.
  • Gwendo40
    Gwendo40 Posts: 349 Forumite
    We're mid-thirties, with children. We have a mortgage of well over £200K "hanging over our heads", and it will be for over 30 years, never mind 25. And you know what? It's absolutely fine. I don't spend my life fretting about this debt, I spend my life enjoying what it got me.

    Spoken like a true obedient, compliant little mortgage slave worker drone.
  • Doozergirl
    Doozergirl Posts: 34,076 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Gwendo40 wrote: »
    Spoken like a true obedient, compliant little mortgage slave worker drone.

    So your life is so unique and wonderful? Why then do you feel the need to insult people, for no reason at all, to try and feel better about yourself?

    Grow up. You don't make your candle burn any brighter by trying to blow other people's out.
    Everything that is supposed to be in heaven is already here on earth.
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