What should we do? Can't decide

lookstraightahead

What sort of state is the house in? Will it need work doing to it 

bouicca21

What are the children’s needs that mean you can’t get a job?  Are we talking very young or some sort of disability that makes it very difficult to find the right sort of care?

is there a possibility of flexible working so your OH can avoid the rush hour traffic?  20 miles each way doesn’t seem a lot to me but psychologically it may seem a big jump from 4 miles.

veggielove

lookstraightahead said:

What sort of state is the house in? Will it need work doing to it 

No it's move in condition

repeat

if it was me, this sounds like an amazing chance to get on the housing market. Paying less than rent with the opportunity to build equity have no mortgage or rent in retirement. Can you afford not to risk it? It all goes wrong - you end up back in rented. nothing ventured nothing gained. Would you look back in 10 years and kick yourself for not taking the opportunity?

veggielove

bouicca21 said:

What are the children’s needs that mean you can’t get a job?  Are we talking very young or some sort of disability that makes it very difficult to find the right sort of care?

is there a possibility of flexible working so your OH can avoid the rush hour traffic?  20 miles each way doesn’t seem a lot to me but psychologically it may seem a big jump from 4 miles.

I have a baby and a young child who I home educate because she has sensory processing and doesn't cope at school when we tried it in primary 2. 

[Deleted User]

It would be a yes from me. Otherwise trying to save for years for a deposit, the housing market may move further away from you. It would be different perhaps if you were likely to be working again soon-ish but that doesn't sound like it's an option right now.

Ultimately once you are on the ladder with this house, if it's feeling like too large a commute for you then you can always sell and purchase something near to your OH's workplace but at least you have options then and would already be on the ladder.

Snookie12cat

veggielove said:

bouicca21 said:

What are the children’s needs that mean you can’t get a job?  Are we talking very young or some sort of disability that makes it very difficult to find the right sort of care?

is there a possibility of flexible working so your OH can avoid the rush hour traffic?  20 miles each way doesn’t seem a lot to me but psychologically it may seem a big jump from 4 miles.

I have a baby and a young child who I home educate because she has sensory processing and doesn't cope at school when we tried it in primary 2. 

I feel you, the school system is a nightmare for special needs. The right schools are like gold dust that when you get them you are too scared to ever move from the area! 

tooldle

This sounds a massive gamble based on you saying there is currently no spare cash or savings. Yes you would make a small saving on rent against the projected mortgage payment, but some or all of that saving would be eaten up by the extra commute, extra council tax and additional bills (building insurance, boiler service etc)  leaving very little wriggle room. I wouldn't risk it on such a tiny margin. A minor blip i.e. mortgage rate increase, excess to pay on an insurance claim, a minor maintenance issue in the house etc would stress you financially and may force a default.

veggielove

tooldle said:

This sounds a massive gamble based on you saying there is currently no spare cash or savings. Yes you would make a small saving on rent against the projected mortgage payment, but some or all of that saving would be eaten up by the extra commute, extra council tax and additional bills (building insurance, boiler service etc)  leaving very little wriggle room. I wouldn't risk it on such a tiny margin. A minor blip i.e. mortgage rate increase, excess to pay on an insurance claim, a minor maintenance issue in the house etc would stress you financially and may force a default.

I guess we'd make every effort to save more. We plan to anyway.

bouicca21

If I hadn’t taken the gamble many years ago I’d never have been mortgage free and secure now.  It was tough but we got through it.  At times it meant dropping our living standards. OP only you can decide whether that is going to be doable for you.  

My sympathies on having to deal with sensory processing issues.  My neighbour’s child seems to be coping at secondary school but I think a lot of primary schools just don’t have the right expertise to deal with children whose brains work differently to the mainstream.