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julicorn's journey 2 - Moving Up

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  • South_coast
    South_coast Posts: 5,866 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    I guess the other thing to think about with any "project" house is how you would feel about not making any OP's while you spend on the house? You've made such amazing progress with this mortgage, I don't know if you might feel a bit sad to not see the new one going down? Or would you be OK with that, as the current mortgage was always a stepping stone to buying the forever house 🤔?
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • julicorn
    julicorn Posts: 2,587 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    I guess the other thing to think about with any "project" house is how you would feel about not making any OP's while you spend on the house? You've made such amazing progress with this mortgage, I don't know if you might feel a bit sad to not see the new one going down? Or would you be OK with that, as the current mortgage was always a stepping stone to buying the forever house 🤔?
    Definitely more the latter. We'll reduce OPs a fair bit either way and probably invest more moving forward, it was mostly a way for us to build equity / get to a bigger deposit. Although having said that, it's definitely been slightly addictive, so I reckon I'd still keep overpaying a fair amount haha! With a proper project, we'd want to take out a big enough mortgage to fund most of the renovation as well I'd say. 
  • Karmacat
    Karmacat Posts: 39,460 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Loving the scores, that's such a good start to the weekend, coming back from Center Parcs and getting to it straight away.  So good!
    2023: the year I get to buy a car
  • ElmoR
    ElmoR Posts: 414 Forumite
    Ninth Anniversary 100 Posts Name Dropper
    We used to live in Hanover! <3
    Pluses - nice area, good pubs, great takeaway, easy distance to beach/park, nice neighbours. Negatives - walking up the steep hill, dog eat dog parking, cats pooping in the garden despite every mitigation measure we could think of!

  • Hettyhound
    Hettyhound Posts: 1,046 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Hi Julicorn, glad I’ve found your new diary!  I did think about you the other day when we finally got our allotment after 4 years!  My favourite house is the doer upper, so much potential and something you can do over the years just so long as the basics are in place (electrics, plumbing, roof, heating, damp oh dear quite a long list already 😂)
    SPC #023 SPC 12: £125.86[/COLOUR]:SPC 13: £214.98: SPC 14: £297.41 SPC 15: £237.27 SPC 16 £335.39; SPC 17 £662.09 SPC 18 £20MFW #21 Mortgage start Dec 2015 £79,950; June 2025 £19,394.00 2025 OP £1589/COLOR]/£2,000 MFiT T6 #3 £19070/£25,500 (72.82%%) MFiT T7 #3 £2050/£21,930 (9.34%)
  • Karmacat
    Karmacat Posts: 39,460 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ElmoR said:
    We used to live in Hanover! <3
    Pluses - nice area, good pubs, great takeaway, easy distance to beach/park, nice neighbours. Negatives - walking up the steep hill, dog eat dog parking, cats pooping in the garden despite every mitigation measure we could think of!

    No nice neighbours when I lived there  :D on one side I had a drug dealer whose clients called between midnight and 3am, on the other a married couple who screamed at each other constantly, and over the road a pub that I could see into from my bedroom.  And in my street alone there were half a dozen squats.  Of course, that's an unimaginable amount of time ago  :D and I guessed the wrong way about how the area was going to fare, grrr!  Even though I moved to a nice area, I lost out on the uplift that Hanover has had.
    2023: the year I get to buy a car
  • julicorn
    julicorn Posts: 2,587 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    ElmoR said:
    We used to live in Hanover! <3
    Pluses - nice area, good pubs, great takeaway, easy distance to beach/park, nice neighbours. Negatives - walking up the steep hill, dog eat dog parking, cats pooping in the garden despite every mitigation measure we could think of!

    That sounds pretty glorious, and yeah we're trying to not get a car if we can get by without one haha :D 
  • julicorn
    julicorn Posts: 2,587 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Hi Julicorn, glad I’ve found your new diary!  I did think about you the other day when we finally got our allotment after 4 years!  My favourite house is the doer upper, so much potential and something you can do over the years just so long as the basics are in place (electrics, plumbing, roof, heating, damp oh dear quite a long list already 😂)
    How exciting, congratulations on getting your allotment finally! <3 The doer upper is very much still in the running, although we have a new front runner now - will update in a minute.
  • julicorn
    julicorn Posts: 2,587 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Karmacat said:
    ElmoR said:
    We used to live in Hanover! <3
    Pluses - nice area, good pubs, great takeaway, easy distance to beach/park, nice neighbours. Negatives - walking up the steep hill, dog eat dog parking, cats pooping in the garden despite every mitigation measure we could think of!

    No nice neighbours when I lived there  :D on one side I had a drug dealer whose clients called between midnight and 3am, on the other a married couple who screamed at each other constantly, and over the road a pub that I could see into from my bedroom.  And in my street alone there were half a dozen squats.  Of course, that's an unimaginable amount of time ago  :D and I guessed the wrong way about how the area was going to fare, grrr!  Even though I moved to a nice area, I lost out on the uplift that Hanover has had.
    Dare I ask how long ago this was? :D The Hanover house still has a pub virtually opposite, but that's hard to avoid in the area. 
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