Selling house - are we mad?

EliteHeat

Can someone tell me how you end up with £45,000 of credit card debt?

sassybooboos

ive just sold a house because just about affording the mortgage and couldn't do anything else, have now bought a smaller house with much smaller mortgage (only costs as much as it would for a rented) and the relief that now we know we can afford the mortgage easily and possibly take my child on day trips,maybe get to go on holiday.

i haven't slept as well in years as i do now, after all what use is a house if your miserable in it.

go for it!!!!!!!!!! once all your debts are gone you will have peace of mind too.

ross007

sassybooboos wrote: »

ive just sold a house because just about affording the mortgage and couldn't do anything else, have now bought a smaller house with much smaller mortgage (only costs as much as it would for a rented) and the relief that now we know we can afford the mortgage easily and possibly take my child on day trips,maybe get to go on holiday.

We are thinking about doing the same thing at the moment. It is funny really as we are in the type of house now that we have always wanted since we bought our first house (99), but just want more financial freedom.

MissKJ

I am not sure owning your own home WHEN YOU HAVE OTHER OPTIONS is all it's cracked up to be. Too many of us (me included) have looked to property to make us money, as an investment. Well fact is, there are plenty of other ways to invest money. But it all comes down to budget and plan.

How I wish I would listen to my own advice sometimes?

Markyt

EliteHeat wrote: »

Can someone tell me how you end up with £45,000 of credit card debt?

Spend more than you pay off.

mpsavuk

EliteHeat wrote: »

Can someone tell me how you end up with £45,000 of credit card debt?

Easy, you start off with £10,000 of credit card debt!

Magic_Dragon

Mrs D

We are in the process of selling our house and miving into quarters now we are married. We dont have debts like yours though. Our fixed rate has just come to an end. That coupled with childcare fees means we would be struggling to afford our home.

Married Quarter fees will be about £300 per month for us at the very most. Mortgage would be about £900 if we remortgaged. Add on council tax and water fees and we are saving at least £700 per month

The quarters around here are alright. Otherwise I wouldnt have even considered moving onto camp.

DP has 5 years left. With the Equity from our current home, his pension lump sum and the saving we will make by living in a quarter for the next few years, we hope to have 100k + deposit when we buy our next home :-)

So I would say go for it. Sort yourself with a budget to repay all those debts and save for the future