We have a house which is worth £15000 less than what we paid for it. We put down a £18,000 deposit on it. We have about £5000 equity in the house.
We love our house but not our neighbours - they are the neighbours from hell. They have vandalised our car and they are just horrible.
We have the chance to move through work. We would get a relocation package of £23,000. This would have to cover all moving costs, hipp pack, estate agents fee's and solicitor costs. We would also need £15,000 to put down a deposit on our next property.
The town we can move is not great as a whole but is going through massive regeneration. We would be able to buy a better house in a better area with a cheaper mortgage.
Moving would also mean I wouldn't lose my part time job which fits around my husbands hours nicely. We work for the same firm. If we dont move he will keep his job but I will lose mine.
I would move if I were you. The loss is a bummer but I am guessing the next house you buy will be cheaper too so that is good for you and will hopefully offset it. But sorry to be a party pooper, will you be able to actually sell your house?
Move - taking a hit on the price you paid is really crap, but your comfort and sanity are more important. Move away from your horrid neighbours and just forget about the money - in 5 years time it will mean nothing anyway as hopefully your new house will go up in value?
If you have a 5k equity then I'm a little confused about the 15k issue. You won't need to 'find' 15k because fortunately your house is still worth a little more than your mortgage on it, yes? So what you actually paid is irrelevant. Psychologically it's not nice to feel you're getting less than you bought it for, but tbh that's just 'virtual money', not real money.
Move - definitely. It sounds like a good and relatively stressfree solution to a horrible situation. I know any move is stressful so I'm not saying that glibly - but honestly, a relocation package and a chance to get away from awful neighbours is a great chance.
Move. Over time your awful neighours'll wear you both down. I have friends who put up with neighbours from hell for 3 years and eventually split. Lack of sleep had a huge impact on them. You will also in theory be spending the same percentage less on your next property and you'll get for selling your current property (if that makes sense) - assuming you aren't downsizing - so you aren't losing out overall. Plus you get to keep what sounds like one of those holy grail type jobs. (Wish I had one.) Plus if it's an up and coming area and you aren't planning on making a profit in the short term you may stand to gain more anyway.