Talk

Advanced search

Buy or rent please help

(10 Posts)
Mamabooksbabynumber2 Sat 17-Feb-18 19:01:59

Hi there. Posting here for traffic smile
Me and dp are in quite the predicament so I of course thought I would ask mumsnet!
Dp and I have been given notice on rented property after 4 months (landlord using 6 month break clause) and so we of course now have to move sad
We move alot!
We at win our early 30s with one child and ttc for our 2nd.
We are trying to decide if it is worth renting a cheaper property with less space, no garden and 2 rooms (a flat) and save ourselves £200 a month and use this money to save for our deposit for a shared ownership. However where we live to buy we would only be able to afford a 2 bed property initially as we don't want to move our of area because of school.

Or do we carry on renting for many many many years to come in.

Any thoughts?

Bluelady Sat 17-Feb-18 19:05:01

Always buy if you can. Who wants to pay someone else's mortgage?

ScarfAndGlassesgirl Sat 17-Feb-18 19:06:16

My advice is to buy. If it's realistic that you can save for a deposit then that's what you should do. You never know how much rent or house costs may continue to rise in future years.
Short term it will be tough but 2 beds and a family of 4 is doable!

NotSuchASmugMarriedNow1 Sat 17-Feb-18 19:07:23

Buy. Times running out. Buy before you have another baby too

ilovesooty Sat 17-Feb-18 19:07:49

Buy if at all possible surely?
Wouldn't it be better to get that stability before extending your family?

Mamabooksbabynumber2 Sat 17-Feb-18 19:36:05

I'm sure plenty of people live in 2 bed flat with 2 children. Our dc is 8 so we don't want a bigger age gap.

Sunshinegirl82 Sat 17-Feb-18 19:51:49

Baby could stay in with you for a good while so I reckon that gives you 2 or 3 years before the two beds starts to be an issue.

I'd buy if you possibly can. Is the help to buy any use? We used it and it's been great for us.

Allthewaves Sat 17-Feb-18 19:54:34

I'd move into cheap flat and save like mad

Mamabooksbabynumber2 Sun 18-Feb-18 14:49:33

Thank you everyone. We have found a flat that saves us £225 a month and the council tax is cheaper. However I feel pretty sad about it as it has no outdoor space/ no communal garden. It's above a shop in a very nice village. Would u sacrifice outdoor space for dc who is 8 to save money? It will be a good 3 years before we will have enough to buy I should think

Sunshinegirl82 Sun 18-Feb-18 15:11:48

I think I would yes, short term it's not ideal but long term it would be worth it. If it's a nice village then I'm guessing there are parks/outdoor space you can take the kids too? And in the Winter I guess you don't use the garden loads anyway?

Join the discussion

Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Register now »

Already registered? Log in with: