Save the 30k or use it??

[GreggsS]

Two houses… one means I can save 30k and the other means I’m left with 5k. There’s not a massive difference in the actual house, one is certainly a bit bigger but not massively.

I want to go part time and while I could manage with less money do you think I would regret not having a buffer?

30k. I would personally want the buffer

@Twixie2022 i keep thinking one moment it’s not that much and then thinking shit it would take me a long time to save it again

I'd want the 30k, especially with how tight things are getting.

Are you prepared too link to the houses?

How quickly could you rebuild the savings? Say if you put off reducing your hours for a year, would 5k turn into 6k, or 16k?

We are about to spend all our cash on a house, and be mortgage free. Things will be VERY tight for a bit, but we think, even given price rises, we can save 500/month. So will be fine after a year or 2, IF nothing massive goes wrong.

@KarrotKake i could be in a position where I am only saving 300 a month. So it would take a long time to get anything too significant.

the cheapest one is a new build … I don’t know if that’s relevant but I’m a bit attracted to the warranties etc too

Will the new build come with flooring? Curtain rails? Lampshades?? Turf in the garden? Proper fences between the gardens? Depending on the finish, you can spend quite a bit n "extras" to get it to a basic standard.

@KarrotKake i will save 3k on stamp duty too but yes would need to furnish the whole floors, so carpets and kitchen … it’s a four bed so could be up to 10k maybe?

Just carpeting four bedrooms, corridors and stairs cost me £10K. So If you’ve got to furnish it and do a kitchen too, you’re looking at a lot more.

We bought a very well made 1910 house two years ago. Since then:

$45k replacing the sewers
$65k replacing all the electrical wiring
$42k repaving the yard (this was optional to be fair but it drained really badly)

And about to have to spend $23k on a new bathroom as the plumbing is leaking into the downstairs and there is no access hatch to fix it.

Yes, we had a survey done.

I would keep a buffer.

Oh god I really don’t know what to do now! Suppose I could just carpet stairs and bedroom and lounge for now

You can do flooring for much less than £10k.

does the house some with bathroom, en-suite and kitchen all fitted? Are there built in appliances - or will you need fridge, oven, washing machine?

@Mellowyellow222 comes with everything except flooring and curtains