Prosperous soul, mortgage neutrality & creativity Year 2

savingholmes

Just sent £400 to savings aka my freedom fund. I've been working towards this move with my counsellor for years - it just takes me longer than some to finally pull up my roots.

savingholmes

£450 went into AVCs (extra pension) this month so happy with that too. 

Swayingseaweed

I'd be interested to know when you were viewing the property, did you envision yourself there, looking and thinking such and such would look good there. Could you see this been your forever house or is it the house that meets your needs right now? When we moved here we knew it wasn't our forever home but it did tick all the boxes for YDs needs.
Seaweed x 

KajiKita

That’s a LOT of really important-for-you positives. I’m interested by the fact that you are happy to compromise a bit on the size of the property (I.e. it’s a bit smaller than you have now) and you are seeing it as an advantage (less to clean). To me that suggests that the fact that there is little to no work to do in it and that there is no feeling of being overlooked at the back is what really matters to you. I may be wrong of course 😊

Well done on the additions savings and AVCs - excellent numbers to do in the same month 😊👏🤩

KK

Merlin's_Beard

You sound a lot more positive about this house than you have about a lot of the others - and it sounds like it ticks a lot of your "want" and "practicality" boxes with regards to distance from support/work as well as the house itself.

savingholmes

Swayingseaweed said:

I'd be interested to know when you were viewing the property, did you envision yourself there, looking and thinking such and such would look good there. Could you see this been your forever house or is it the house that meets your needs right now? When we moved here we knew it wasn't our forever home but it did tick all the boxes for YDs needs.
Seaweed x 

Hi Seaweed - it meets my needs while I'm working. I think it could carry on meeting my needs but only time will tell on that. I got them to measure a few spaces while I was in there to see how some of my furniture would fit. Since then I've done a furniture inventory - so have a better idea of what will fit where. I'd need to buy extra seating - to cover both the lounge and the conservatory - but may find something suitable on FB. My current sofa is about 15 years old.

KajiKita said:

That’s a LOT of really important-for-you positives. I’m interested by the fact that you are happy to compromise a bit on the size of the property (I.e. it’s a bit smaller than you have now) and you are seeing it as an advantage (less to clean). To me that suggests that the fact that there is little to no work to do in it and that there is no feeling of being overlooked at the back is what really matters to you. I may be wrong of course 😊

Well done on the additions savings and AVCs - excellent numbers to do in the same month 😊👏🤩

KK

KK - I went into the move planning to reduce my house size. In my 4 bed house there are 3 bedrooms not really used currently. The garage and shed are dumping grounds. My sis says my young adult children are unlikely to stay over. I'm not mad keen on other wider family members staying over as they can be a bit overwhelming. I looked at the square meterage last night - and I'd have 71% of the space I have now - a lot better than some of the properties I've looked at. Because the lounge diner is open plan and the conservatory has panoramic views over countryside I don't think it will feel small as my main living spaces feel expansive and have lots of light.

This property - if I can get it for a reasonable price which isn't a given - is a much lower risk for me than the Welsh properties I was looking at it as it's only 5 extra miles to commute to work - although that will double my journey time because it's a busier route and I currently use back routes. The views are worth it though. 

The owners planned to stay (family circumstances are making them move) and have used the best of everything in what they've done. There are no obvious compromises. It also comes with a camera on the front and a burglar alarm so I'd have better security than I do now. Over time I'd get someone to do something about the decking - as I worry about it being slippy & maintenance requirements and I'd change the steps at the bottom of the garden but none of those are screaming urgent. The big question is how open to offers are they.

savingholmes

savingholmes said:

I feel like I have an impossible set of criteria

• Great views
• Not overlooked 
• Decent quality and energy efficiency - or easy to overcome issues
• Preferably existing ensuite and downstairs toilet
• Preferably multiple reception rooms - if elements are open plan - ideally not including the kitchen - Kitchen devices are very noisy - and can waft smells around the space that can linger.
• I would prefer kitchen diner as don't want to waste a room on a dining table
• Need at least 2 double bedrooms (one big enough for a superking) and a separate work from home / art space (or ideally both)
• Decent garden 
• Planned storage spaces
• Ideally a cul de sac. I'm noise sensitive. I'm woken by trains here and by a neighbour 2 doors up who is often on call overnight and goes out. I'd struggle more if I was on a busy road. Many modern estates are far too big and connected - increasing the likelihood of cars and even pedestrians going past noisily in the night.
• Nearby corner shop
• Be aware of air quality - so try not to be too close to major roads. 
• Ideally not too far from hospital, shops etc

I think the only thing not met on this list would be the corner shop - but there's a pub in walking distance - no idea what it's like though, a leisure centre within a mile and a supermarket within a mile to mile and a half. There are good medical facilities nearby. There may be other little shops I just haven't found yet.

I love my garden - but the handyman hasn't been for at least 6 weeks and it's showing a lack of care and attention. Must try and mow the lawn at least today.

savingholmes

KajiKita said:

“ KK - still thinking about your comments too. I really, really, really love the idea of a home with a view - but do I really, really, really want to add the extra journey time and upheaval in relationships by moving completely out of area? That is still a massive debate. I'm seeing my counsellor on Thursday - so will discuss it with her I'm sure.”

That tells me that you haven’t found the right place to move to yet. You need both elements in lesser or greater degree, I think. Hoping the counsellor brings you some clarity on it. 

If I can get the English house at a price I'm comfortable with - then it resolves the issue as there is extra journey time on a few of my journeys like work, counsellor and hairdresser but still commutable - but my journeys to see family would be a different route but roughly the same time. It's not 'completely out of area'. I therefore feel more at peace about it than I did the Welsh one.

If at worse case I paid full asking price - to clear that within 5 years at 5.6% would cost me £386 a month. I'm due back pay and an increment by December - at which point my pay is due to go up £3.5K a year which should then help me pay the difference if I can't get out of it. I'd need to ensure my mortgage provider was comfortable with that as a solution. Because of arrangement fees - it would cost me more to add it to the mortgage. I reckon over time I'd shift the debt to a 0% CC and reduce the borrowing cost further.

savingholmes

Merlin's_Beard said:

You sound a lot more positive about this house than you have about a lot of the others - and it sounds like it ticks a lot of your "want" and "practicality" boxes with regards to distance from support/work as well as the house itself.

Thanks Merlin - Yes - this distance feels more practical than some of the back of beyond type houses I've gone and looked at.

beanielou

So just to clarify you are happy to increase your borrowing, if need be, to secure this house?