House-buying wisdom needed!

[MayaAngelCool]

We are currently renting and weighing up our options. We will need a 3 bed in the next 3 or so years as our kids are of both sexes. At present my self-employed business is a startup but growing slowly and I expect to earn a lot more in 2 years' time. DH's self-employed business is well-established and profitable.

So.

Would it be better to:

(a) stretch our finances a bit to buy a 3-bed house now in an area where we'll have to move about 1 mile away from our friends but get more for our money? (nb we currently live near some really good friends; and also have no family who can help with childcare so this is a bigger deal for us than it would be for some)

(b) stretch our finances a bit to buy a 2-bed house/ upstairs flat now in the area where we live, and convert the loft to a 3rd bedroom at a later date?

(c) very comfortably buy a 2 bed maisonette outside our area and hope to buy the upstairs/ downstairs space in a few years' time?

One thing about options a and b is that we'll stop paying extortionate nursery fees later this year, which will mean we'll only have to stretch our finances for a couple of months at most.

Hmm. Have I just answered my own question? Option c is not looking very wise. And just think: if we bought a 3 bed house now I could reasonably expect to do up the loft to make it a 4-bed and then have the top floor as a hideaway all to myself!!! Just imagine - a room that always stays tidy and clean!

WWYD?

[MedicPeso]

A.

[orangepudding]

I would go for a too. Definitely not c.

[noisytoys]

We did C. It worked, but in hindsight I would probably do A

[MrsJollyPostman]

None of those. Wait till you are earning more and then see if you can afford what you need in the area you want to live in.

[pinkdelight]

A.

1 mile is not far away from your friends. It costs a lot to buy/move so stretch yourselves a bit and invest for the longer term. Just make sure you've got the schools side of things sorted!