Would you move?

AlexMac

I too would go for it. We’ve always done well by buying the best house we could afford.

Although house price inflation has slowed, and despite living through the HP crashes of 1987 and the ‘noughties, when property dropped by up to 20% in some areas, in the long run, property has been far and away our best appreciating asset (not that we ever saw it as an investment, just somewhere to live). 

We’ve also been lucky with interest rates, generally going for  trackers a little over BoE base rate. That may have seemed task when we took one at Base plus 0.75% in the late 20th century, so about 7%+, but as base rates tumbled to below 1%, we were laughing (thank you Nationwide). So if I was starting a loan now, I’d still take that risk and go for one. 

Finally, I’d not do an extension or conversion; it might go well but three out of four neighbours who’ve done these have experienced nightmares; delay, costs, fractures gas lines and the need to move out. 

If all else fails toss a coin   The lurch in the tum as it falls means your gut knows best!

RelievedSheff

If you can comfortably afford the move then I would go for it. 

It sounds like what you have found would be a long term family home.

diystarter7

diystarter7 said:

Hi OP

A couple of points

One can't beat a nice det property in a nice location and you have less to worry about upsetting next door re perceived noise.

The downside on moving - you don't know what types you are moving next door to. But you next door could change

On balance - if you can do it, do it and move.

Hello again
Reading through the new comments, I recalled the last time we moved a few years ago.

You are young ie in your 40's but remember this and it happens. You could get stuck or want to stay there for a bit longer then circumstances change ie you can't afford to move again or health/work etc. We were going to buy a massive house and one of our children said to us, 'who is going to clean it, gardens front and back, repairs, heating etc. We, therefore, decided not to go to the much bigger house and find it relatively easy to manage the current one but thinking about the big house, we are glad we did not as we are a lot older than you. You have age in your favour but worth thinking about what I've posted
Good luck.

nicknameless

MrCarrot said:

It's a shame that savings rates have only just started to increase!  I have spent the last 10+ years earning pittance on my savings, but I never wanted to lock them away because I was waiting for "the right time" to buy.  I also have a massive bank of savings (bigger than your £80k) which is another reason for my decison, because they are effectively erroding by 10% per year at the moment.

Your savings were losing less buying power at ultra low saving and inflation rates over the last 10 years than they are now with higher saving rates and a larger differential to inflation, dependent on your personal rate of inflation of course.  Strange logic tbh.

nicknameless

OP do you have pension provision and a long term retirement / income plan that doesn't involve the equity in your property?  The answer to that would influence my decision.

Okydoky25

I’m in a large 4 bed detached with 2 kids. I would swap for a large semi and be mortgage free tomorrow if I could find something I liked. 

It’s not just the mortgage to consider. It’s the additional costs of bills, repairs etc. Cleaning it takes longer! Gardening takes longer. 

ProDave

Go for it.  Ance you have lived in a detached house with almost complete freedom from neighbour noise (either being afraid of causing it, or suffering it) you would never by choice go back to a semi.