Advice Needed

Davesnave

olgadapolga wrote: »

The biggest mistake I made was to sell my house and go into a rental property. I never felt that it was "home".
It took a long, long, long time to find a house I felt was right for me.
My biggest regret is that I didn't buy a house at the same time as selling.

It isn't wise to be too fussy, but nor should someone be panicked into a purchase if there is a poor choice at the time of their sale, or if the new area they're buying in is unfamiliar.


When we eventually sold in the last recession, there was an understandable dearth of property, but by the same token, prices were static, or reducing, so we weren't punished for stepping off the ladder, just inconvenienced.

It took us 6 months to find the right property and another 3 to buy it. It might easily have taken double that time.

We never expected the rental to feel like 'home,' but we enjoyed the experience as being very different from anything we might have chosen for ourselves. It also showed us starkly that spending another £100k more wouldn't necessarily benefit us at all.

need_an_answer

You are wanting to be nearer to your son...but whats the relationship between whoever your son lives with and you?


Amicable,then yes I might suggest that buying could be a good idea but I cant help but wonder that you may not have thought about what happens to something that you buy if the adult decides to move further away with your son.


I think for the first instance you need to be looking at renting until you know that both you and your son(who quite frankly isn't able to give a weighted opinion on where either of you live) are settled.

A purchase of a property is a long term investment and not something that you should be doing if in 3 or 4 years time your son isn't living in the same location

mick1234_2

The relationship with his mother is really good and always has been, she will never move away from her parents they are far to close if that happened then obviously it would change things but with him starting school I defiantly do not see this happening for the next 10 years if ever.

need_an_answer wrote: »

You are wanting to be nearer to your son...but whats the relationship between whoever your son lives with and you?


Amicable,then yes I might suggest that buying could be a good idea but I cant help but wonder that you may not have thought about what happens to something that you buy if the adult decides to move further away with your son.


I think for the first instance you need to be looking at renting until you know that both you and your son(who quite frankly isn't able to give a weighted opinion on where either of you live) are settled.

A purchase of a property is a long term investment and not something that you should be doing if in 3 or 4 years time your son isn't living in the same location

need_an_answer

mick1234 wrote: »

The relationship with his mother is really good and always has been, she will never move away from her parents they are far to close if that happened then obviously it would change things but with him starting school I defiantly do not see this happening for the next 10 years if ever.

Maybe I'm old school but if the relationship is so good cant help but wonder why you don't bring up your son in a 2 parent environment...something obviously changed within the 4 years of his life...

but we are not here to judge so if you feel that there is the stability there to be able to commit to buying your own home and that's the area of the country that you want to settle in,I would always encourage anyone who can to get on the housing ladder.

Its not a poll on a internet forum you need to help you decide,its the determination to do it....that comes from within,not from us!

List your pros and cons for renting v buying and see what conclusions you draw...if youre still undecided then rent.

You'll know when the time is right to buy.

Smellyonion

I would suggest buying (if you see yourself staying there for 5+ years) because renting is just a waste of money. One year renting is 1 year more equity and 1 year until mortgage free not to mention the potential rent cost saving.


Interest rates are at a record low and they can only move in one direction. All it would take is for the brexit uncertainty to disappear, economy grows by 5%, interest rates rise to 4%,

mick1234_2

Yes obviously something changed, we have a good relationship as his parents and as many other separated parents do, and yes you do sound very judgy, I have looked and taken a lot of things into account and I was looking at some other views that is why I created this post.

need_an_answer wrote: »

Maybe I'm old school but if the relationship is so good cant help but wonder why you don't bring up your son in a 2 parent environment...something obviously changed within the 4 years of his life...

but we are not here to judge so if you feel that there is the stability there to be able to commit to buying your own home and that's the area of the country that you want to settle in,I would always encourage anyone who can to get on the housing ladder.

Its not a poll on a internet forum you need to help you decide,its the determination to do it....that comes from within,not from us!

List your pros and cons for renting v buying and see what conclusions you draw...if youre still undecided then rent.

You'll know when the time is right to buy.

need_an_answer

My post really wasn't meant to sound judgemental..I'm sorry you took it that way.

All the best with whatever you decide going forward

mick1234_2

No problem, it just came across a little bit thank you

need_an_answer wrote: »

My post really wasn't meant to sound judgemental..I'm sorry you took it that way.

All the best with whatever you decide going forward

mick1234_2

thank you that makes sense, mortgage free is the goal

Smellyonion wrote: »

I would suggest buying (if you see yourself staying there for 5+ years) because renting is just a waste of money. One year renting is 1 year more equity and 1 year until mortgage free not to mention the potential rent cost saving.


Interest rates are at a record low and they can only move in one direction. All it would take is for the brexit uncertainty to disappear, economy grows by 5%, interest rates rise to 4%,

Smodlet

Hazyjo's advice (#3) sounds sound to me; I cannot remember a time when she gave bad advice, even if I don't always agree with what she says. I wish to some extent I had followed it before buying this house but might still be looking, had I done so! We delayed almost 2 years as it was.

If you are certain you want to move nearer to your son, have you considered other, adjacent areas which might seem to you to be better value for money, even if the commute is a little longer? Is this area you are considering better or worse than your current one? If it is a move down, I would suggest you consider all options carefully before making a committment. If a move up, even if you get less for your money, it is more likely to be a move in the right direction, no? You can always move again, sideways, upwards, downwards...

Good house hunting; I know it's horrible.