confused about house move

at84

Hello All, Hope you are doing well! 

We are in 5 bed, fairly new extended semi-detached house. All well with the house, apart from that location is not ideal with garden exposed to side alleyway, but no big issue (apart from litter etc plus little pyschological effect ) since we have been for around a decade. This house is saving us good money as it is well insulated, commutable to train station and above all low mortgage due to high LTV. Due to it's location, we have always thought to move to a better location in detached house. Now, we have seen a detached house, which is 4 bed, in ok condition but eventually needs work. This house is 100K plus value of our house and is around half an hour walk from train station, so buying this means, increased commute to work, higher mortgage, and eventually requires refurbishment (and may be adding a room) so 200K more (just a guess), to make the internal area equivalent to our current house. But, by the time, we will start the work, kids would have gone to university, so not sure if we should just get it refurbished. We are so confused as we dont know if we should move now, take higher mortgage and then live in that house (quality inferior compared to current house, but location superior plus it is detached) and go through the pain of refurbishmen/extention. Second option is to wait until kids have left for university, but risk with that is house price increase and we may not get similar house in desirable location. Third option is not to move and compromise with current house location given that there are so many pros as explained above. We will really appreciate your input on this. Thanks.

RHemmings

You say that the current house is in a location that is not ideal. But, apart from that, the current house appears to be good for you. What are the actual negatives of the current location? Assuming that your kids are currently in school but approaching university, could a move disrupt their schooling? Or do you think you would get them into better schools in the other location. How long until the kids are likely to leave? 

Is there anything to stop you putting up a fence to isolate your garden from the alleyway, or would that be prevented by covenants or generally make things worse if the alleyway becomes more ... closed off?

It sounds like you're close to being in a position where a downsize could make you mortgage-free. And, a downsize may be possible after kids have left. 

I'm just some random person on the internet, but I'm not convinced by your post above that the move is really that positive overall. What are the benefits of moving? Better area, but what are the specific benefits of that for you and your family?

Jami74

Going to university does not equate to leaving home! My children are at the age (one at university and one university age) but we are no-where near ready to downsize. The one at university is currently doing a placement year working from home and they are both a long way off having their own more permanent homes (ie not student accommodations or shared flats for first jobs). The university student is already looking forward to coming home next Christmas for 3 weeks and she's not even gone back yet!

Albermarle

Jami74 said:

Going to university does not equate to leaving home! My children are at the age (one at university and one university age) but we are no-where near ready to downsize. The one at university is currently doing a placement year working from home and they are both a long way off having their own more permanent homes (ie not student accommodations or shared flats for first jobs). The university student is already looking forward to coming home next Christmas for 3 weeks and she's not even gone back yet!

Also it seems to be quite common for them to graduate, find a job in a new/strange town with high rent and then get fed up with it, and find another job near the family home,  and come back to live there for a couple of years or so. 

OP - Moving house can be very  stressful and it seems you are not gaining a lot for quite an outlay of time and money/ Maybe best to hang on where your are for another few years, before moving to somewhere nicer/smaller.

at84

RHemmings said:

You say that the current house is in a location that is not ideal. But, apart from that, the current house appears to be good for you. What are the actual negatives of the current location? Assuming that your kids are currently in school but approaching university, could a move disrupt their schooling? Or do you think you would get them into better schools in the other location. How long until the kids are likely to leave? 

Is there anything to stop you putting up a fence to isolate your garden from the alleyway, or would that be prevented by covenants or generally make things worse if the alleyway becomes more ... closed off?

It sounds like you're close to being in a position where a downsize could make you mortgage-free. And, a downsize may be possible after kids have left. 

I'm just some random person on the internet, but I'm not convinced by your post above that the move is really that positive overall. What are the benefits of moving? Better area, but what are the specific benefits of that for you and your family?

Thanks for your reply. We will be moving in same so no change to school. Youngest child will be in university in 3 years. About house, we already have put a fence.

at84

Jami74Albermarle for your responses. 

at84

at84 said:

Thanks Jami74 and  Albermarle for your responses. 

just formatting previous message to make it readable, as I can not edit it.