NEW HOUSE

FreeBear

Bendy_House said: the added (or future) additional commute for your kids to get to school will become stressful

Lets not forget the cost of fuel - In some areas, it is already hitting £2 per litre, and whilst the price may drop, it will eventually climb higher. That will certainly eat in to any "disposable" income and squeeze finances even further.

One advantage of a large 1950s garden is you have space to grow your own fruit & veg. May not sound attractive at the moment, but it could come to the point where it becomes a necessity.

comeandgo

Buying a new house usually costs more than you think.  You need to buy wall mirrors,wall toilet roll holders, towel rails, curtains or blinds, carpets or tiles, things that are already part of the fittings in an older house. 

Any other house you buy will increase your mortgage payments and interest rates will only go up now.  We went from a mortgage of £75,000 to £180,000  and it was to a new house too.  We had less equity to carry forward too but it was worth it.  

Woolsery

FreeBear said:

Bendy_House said: the added (or future) additional commute for your kids to get to school will become stressful

Lets not forget the cost of fuel - In some areas, it is already hitting £2 per litre, and whilst the price may drop, it will eventually climb higher.

Easy oil has largely gone and new alliances mean the availability of what's left may be restricted. BRICS countries may tell us to go whistle in the future. I wouldn't expect sustained falls, especially as the agenda wants us to be on public transport or bikes within local hubs, not swanning about independently.

Twixty3

I once moved house from a 2 up 2 down to a bungalow which was sold as a 2 bed but I changed the dining room to a 3rd bedroom (2 kids) and it only cost me £6k more.  

The house I am in now was bought for £2k below what I got for my last one  which was mortgage free so I have remained mortgage free as I didn’t want to borrow anything at all yet I could have done.  Value is £170k. I earn below the average wage and I am very glad to be mortgage free at this expensive time.  So, to take such a leap to me is very scary indeed but each to their own. 

Zerforax

Google Harron Homes and check out their reputation.

A new showroom looks amazing (because they decorate with extras, keep very clean/shiny surfaces and also declutter from every day items). But the reality can be different. Also new house builds are often not built on time or can have snagging issues. Now these are not reasons to disregard new built houses but has your wife factored in the inconvenience of moving if your current place is as good/better than the new build?

Thumbs_Up

No one has touch on this so I will -what are your current neighbours like? I would rather live in a dump of a house if either side of me the neighbours are quality human beings rather living in a new 4 bed posh house where the neighbours turn out to be right - !!!!!

Remember you can’t pick your neighbours!

Send her to mumsnet  plenty of people do not like new builds!

MalMonroe

You said "my wife wants to move into a brand new house".

You need to have a sensible conversation. You don't want to move - and for valid reasons. It's going to be expensive and cause great upheaval and you don't want to.

A similar thing happened to me and my now ex husband. I forced the issue of us moving into a brand new detached house (we lived in a Victorian terraced property at the time but it wasn't good enough for me, oh no. Had to be new, and detached). Such a fool. 

Long story short, he found someone else who didn't mind where she lived - as long as it was with him, and he went off with her and divorced me, leaving me to struggle financially and raise our daughter on my own. I really should be telling this to your wife but maybe you could pass the message on. I thought my husband would stick with me, no matter what but because I was never satisfied, he cut and ran. I'm not saying you will too but I just think if you move and you really don't want to, stormy seas definitely lie ahead.

Learn a lesson from me, I was never satisfied and after my ex left I had no choices any more. 

Marvel1

I take live for the moment as doing something not have a new roof over my head for more money and slightly says it all if she is not willing to work more hours to cover the cost - wants her cake and eat it.

The way things are going with living costs, it's no brainer to stay as the mortgage is low.

TripleH

New house does not mean perfect with no work to do.

The house needs to settle, cracks can appear, the finish may not be durable and it assumes you will need to redecorate in a couple of years once it all settles.

That's assuming the house was finished properly and the company behind the snagging are competent.

If she wants new, go for a 5 year old house, the niggles should be sorted and you won't be paying a premium.

I love our new build but it is not without hassles.

GDB2222

Stevensuperbike said:

I just think she is rushing into it , I work full time and she part time so I feel the pressure of being the bread winner and have to maintain this job/ income for some time to afford this house. 

Has anyone else been in this situation?, wife says live for the moment and take risks but I like to be cautious & realistic with things especially around pushy sales reps for new homes. 

Do you think this is the right decision to move in the current market???? Please help!!!! Thanks 

I think your concerns are reasonable, so the question is how best to put this to your wife? You know her, and we don't. 

The simple approach of "I like it here" probably won't wash with her, but I think it's worth saying that very clearly. Emphasising how much really hard work you have put into the place, and that you simply can't bear to walk away from it.

However, I think your strongest points are the financial ones, put in very emotional terms:

1. The new mortgage will not be paid off for say 30 years, and you're not able to commit to working beyond retirement age. It's unfair to place that burden on you.
2. This is idea of taking risks and living for the moment will place an unfair burden on you, as she is not in a position to work longer hours.
3. Interest rates are rising, and you might struggle to meet the payments. It might be a choice between heating and paying the mortgage.
4. There's a risk of being repossessed, with the kids being thrown onto the streets.