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Original poster

The property ladder - broken ?

165 replies

Pisssssedofff · 12/10/2016 10:21

Am having to start again at 41 with 4 kids.
Can save £200 per month by buying a property rather than renting, can scrape the deposit together etc. However it will be hell. 3 beds, one living room, kitchen diner.
We will not all have a bedroom am tempted to put all 4, aged 16,14,12 and 6 in together to sleep and literally make the bedrooms a place where you close your eyes and then have a home work study room.

My major worry is how do we move on though. House prices have barely moved since 2004 in this area.

Is the next step just beyond me and everyone else ? How did you do it if you did ?
TIA

OP posts:
Original poster
Pisssssedofff · 12/10/2016 16:22

Degustibusnonestdisputandem
I'm counting the days down until I can move back, there's a natural break when the 12 year old finishes her GCSE's 2020 and I will move back then.

OP posts:
Ineedacupofteadesperately · 12/10/2016 16:34

Yes, I've been a tenant of a couple of baby boom BTLers - it was not a happy experience. On the other hand, my parents are boomers who just bought one house for themselves to live in. No-one is saying ALL boomers are doing this, just some are.

What is mad is that in the area I live in, I know people who are paying more in rent than they would on a mortgage but can't get a mortgage due to their circumstances - so they are literally paying off the mortgage for the boomers they rent from and will end up with nothing for themselves in their old age. How this reflects a healthy society or is morally right is beyond me. I don't think it's surprising that some people are very bitter about the opportunities the boomers have had that are being denied to them. Being able to rent let alone buy a council house is one opportunity that is being / has been taken away. A free university education is another.

wasonthelist · 12/10/2016 16:54

No quarrel with people being upset, but there's a difference between that and heaping blame on the boomers as if it was a deliberate policy to steal from the next generation is nuts. Some of us have kids (I do) and want things to better for them, not worse.

I wonder how many people bemoaning the end of free University have been voting for parties that made that happen? As I said, while one group of society blames another, the politicians are laughing cos they don't have to wrooy about anyone asking them awkward questions.

RebelandaStunner · 12/10/2016 17:00

We have a tenant who is a baby boomer. And she isn't the first.
How does that work then?
And I know lots of intelligent boomers and not one of them went to University.
It's just a blame game.

wasonthelist · 12/10/2016 17:09

It's just a blame game.

Exactly - and it deflects blame form where it really lies.

Ineedacupofteadesperately · 12/10/2016 17:12

I didn't think anyone was blaming anyone. Just that someone said originally there are SOME baby boomers who've bought up the houses so that it's more difficult for younger generations to buy.

I know a lot of baby boomers who - instead of doing this - have helped their kids to buy.

Yes, it is the fault of successive governments that we are in our current situation. Somehow the one group that always does ok is the politicians - lots of them bought houses on expenses and have now built a BTL portfolio (which is why they're overly invested in helping BTL more than first time buyers). However, the policies leading to the current housing situation have been continued by parties of all colours - e.g. allowing people to buy their council homes and not building more - there really hasn't been much choice. JC is the first politician in a long time to mention rent caps and most of the other politicians act like he's mad. Sensible is the word I'd use.

Original poster
Pisssssedofff · 12/10/2016 17:13

Anyway back to me 😁
Just read the last few posts, honestly I am looking at the cheapest of the cheapest areas, some of you could probably put this house on your credit cards

OP posts:
witsender · 12/10/2016 17:14

I'm sure, but to my mind the generation that most refer to in this context is those slightly older...retirees now.

cestlavielife · 12/10/2016 17:44

if trampoline and bikes are a priority then look for a house or flat with garden. you might be better off sacrificing inside space for outside space. yes seriously - what is important for you and your kids?
inside space or outside?

compromise where it counts.

i moved out from ex to a 2 bed with garden with 3 kids it was meant to be temp but ended up long term..however it was fine. i slept in the lounge had sofa bed. the garden space made it fab.

the kids didnt make big deal about it.

get some help for yourself, some CBT, to find strategies to put a lid on the anxiety and catastrophising

five people in 3 bed house is fine you can work it; but look for something with outside space if that is key for your kids and you. look for one with space downstairs you can curtain off as sleeping space.

but really you and dc will cope. and if you cant then seek some emotional support and help....

minipie · 12/10/2016 17:57

If you're only going to be there 4 years or less, and if you're looking in an area with not much capital appreciation then I would say just carry on renting. it's not worth this much angst for a few years only!

Original poster
Pisssssedofff · 12/10/2016 18:09

I think you're right minie pie

OP posts:
cestlavielife · 12/10/2016 18:22

Also that 200 a month will be eaten in repairsrepairs and maintenance when you own a house

Original poster
Pisssssedofff · 12/10/2016 18:29

Yeah that's true too, plus of course I'll want to decorate.

OP posts:
Ineedacupofteadesperately · 12/10/2016 18:38

Yes, if it's definitely only for 4 years you're better of renting. That wasn't clear at the start. You don't know how long a house would take to sell in 4 years - renting is definitely more flexible from that point of view.

Original poster
Pisssssedofff · 12/10/2016 18:39

I wasn't thinking just 4 years from the start but the more I think about it, it kind of makes sense

OP posts:
Original poster
Pisssssedofff · 12/10/2016 18:40

However, if I'm renting I don't want to step off the property ladder by selling up the family home in two years time, which throws that back in the mix again. Am thinking we should be comfortable for the 4 years

OP posts:
Mumoftwoyoungkids · 12/10/2016 19:58

From experience of living in small houses - if given a choice between a lounge/diner or a kitchen diner - always go for a kitchen diner. Then you have two usable rooms rather than 1.

Also - avoid open plan. Looks lovely and spacious but actually nowhere to go.

Do you have to sell the ex-family home in 2 years? Could you not wait until 4 if that fits in with your plans? (Or just price very very optimistically. Grin )

What will your older ones do if you move to Australia in 4 years? Will you be ok leaving them?

Original poster
Pisssssedofff · 12/10/2016 20:27

I've just been having that conversation with potential co mortgage person new blokey. The Australia thing is a whole nother can of worms.

Eldest is fine she has citizenship, middle child currently adamant she isn't going - ex wants her to, youngest don't care either way.
Lots, probably too much to think about.

OP posts:
ATruthUniversallyAcknowledged · 12/10/2016 20:44

Whereabouts are you op?

Original poster
Pisssssedofff · 12/10/2016 21:07

Midlands

OP posts:
ATruthUniversallyAcknowledged · 12/10/2016 21:11

And where's the location 300 miles away? Are you tied to those or could you look for s cheaper area?

Original poster
Pisssssedofff · 12/10/2016 21:18

Not tied to either location, can get a job anywhere, was horrendously lied to when I relocated here which is a whole story in itself.
I guess it's two things, the kids have been ducked about a lot, they are in school in a super expensive area that we were lucky to get places in, we could never afford to live in catchment. And I know I'll be ducking them around again in 2 years min, 4 years max.

The second though is that the family house up north is perfect for us, that's why I bought it. When we first returned to the country dickhead wasn't paying child support so I couldn't afford to live there but he is now so I can. If anyone should be getting the benefit of that house it should be me and then if I do go back to Australia and let's face it anything can happen, I never thought I'd be back here, I can either sell it or rent it out again. The kids I think are more likely to get stability in the house we own even though we'd move.

OP posts:
Muddledupme · 12/10/2016 21:24

We lived in a two bedroom house with four children though luckily it had a very large front bedroom which we splint into two and a separate lounge and diner. It wasn't easy but it was all we could afford so we made the best of it. We had a massive declutter as well as getting rid of lovely things that just didn't justify the space they took up such as fancy dinner service and canteen of cutlery occasional tables etc.
We had fitted furniture made so that we got the most storage possible and everything we had needed to earn its place.we were also very disciplined in putting stuff away eg coats ,shoes ,school bags as they would fill our tiny hall if they were left on the floor.
Surprisingly the children who are now grown up have very fond memories of their shared rooms and are very close as a result. We also rented a garage cheaply from the council for bikes Christmas trees etc.

FourToTheFloor · 12/10/2016 21:39

In the nicest possible way pissss l would see Australia as a pipe dream and make solid plans for here. Are the fathers going to let you take dc? Would you go without them? I'm Australian (also from Melbourne Smile)and while l do plan to go home, we've bought and settled here because l think life gets in the way.

I missed why the family home has to be sold in 2 years? If your youngest is 6 surely you have longer? I'd probably move up north for the stability.

Original poster
Pisssssedofff · 12/10/2016 21:48

You see I look at being back here as the stop gap, I had good reasons to return to the U.K. at the time but I also have good reasons to return, I've spent more of my adult life over there than here when I sat down to look at it. If it wasn't for the window on which I can take child 2 back and get her residency I'd settle in the uk for longer but she has to be fully dependant on me. Dickhead wants them in Australia, he won't be a problem

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