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AIBU?

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Original poster

Cost of moving - how much😳

33 replies

LivingBetter · 29/04/2025 17:43

We have the opportunity to relocate with work to a part of the country we’ve always wanted to live in. Looking over last few days at Rightmove has shown that we would need to increase our mortgage by at least £150000 to get a similar size house to ours, in what is definitely a more desirable location plus we would have to find about £30000 stamp duty plus other moving costs.

How does anyone manage this kind of move in their fifties and without an inheritance or lottery win? So so disappointing but unless we are willing to squeeze into fewer bedrooms and other location compromises there’s just no way.

OP posts:
toomuchfaff · 29/04/2025 18:20

part of the country we’ve always wanted to live in.

YABU. you expect to move to a better area, but have the same house you have in the lesser area?

If its somewhere you've "always wanted to live in" - downsize, sell stuff. You don't have to add 150k to the mortgage- that's your own choice. That'll also bring down the stamp duty.

Jeez - who'd have thought a more affluent area would be dearer...

OnlyFoolsnMothers · 29/04/2025 18:06

Yep it’s shit! People always moan about getting on the property ladder, yes that’s hard, but so’s moving up, you just can’t earn a further 40k and simultaneously save £30k for stamp duty, especially with a family to raise.

DongDingBell · 29/04/2025 18:01

Increase your mortgage by 200k, and use the equity from the house to pay for the "cash" purchases. Quite frankly, if you are looking at a 800k or 900k house, I wouldn't have thought finding either the cash or the extra mortgage a massive struggle.

KilkennyCats · 29/04/2025 17:53

Lookingtomakechanges · 29/04/2025 17:45

They manage by not expecting to move to a more expensive area and buy a similar house. They downsize to get the benefit of the area.

Well, quite.
How did you expect it would go, op? Confused

TeddyBeans · 29/04/2025 17:52

We thought the hard part was getting onto the housing ladder but it turns out that moving from our starter flat to family house is the nearly impossible. By the time we get the money together, the kids will be too old to benefit from the garden anymore. The housing market officially sucks arse at the moment!

heroinechic · 29/04/2025 17:49

We’re in the process of moving and have had to budget over £20,000 for stamp duty, EA fees and solicitor fees! That’s for a house worth £500k.

Allywill · 29/04/2025 17:47

Would work consider a relocation package?

Lookingtomakechanges · 29/04/2025 17:45

They manage by not expecting to move to a more expensive area and buy a similar house. They downsize to get the benefit of the area.