2 bed or 3

[Happilyneverafterrr]

Sorry posting here for traffic as tearing my hear out trying to make a decision.
DP and I are buying our first house on a shared ownership scheme. we simply cannot afford to get on the property ladder without doing it shared ownership.
We have savings.. our choices are
1- get a 2 bed, have plenty of spare money to buy furniture etc.. however will 100000% need to get a 3 bed in 5/6 years time.
2- get the 3 bed - this would use all of our savings however our families have kindly offered to help out a little bit. Monthly payments are £120 higher but we wouldn't ever have to move.

The 3 bed seems so much better because we would never have to worry about buying again however £120 extra a month would be nice and I begrudge paying for a room we won't use yet!?

I don't know what to do and am really struggling to make a decision. Neither of us are high earners atall but we are very sensible with our money and don't owe a penny.

Please fire away with your opinions :) Thankyou

Definitely buy the 3 bed

Really greendale?

If I was in your shoes I would definitely get the 3 bed it will save you a lot of hassle further down the line.

I would get the 3 bed you said you will need it eventually I was persuaded to buy a two bed flat when single I could have bought a three bed house (this was 20 yrs ago) worst mistake I made I ended up meeting dh and having two children the property market crashed and we were stick in a two bed flat with no storage etc honestly try and go for the three bed.

Definitely the three bed!

3 bed.
Moving and buying costs a fortune, buy for the long term.

3 bed. Who knows what will happen to the property market in 5-6 years. Disclaimer: I hate moving more than anything.

Really Greendale?

That answer means you already know what you want to buy

But the three bed and have a lodger for a while to help cover costs?

Also.. fire away your monthly bills costs to me!
I know it's only £120 but would it really be that difficult to do the whole process again?

Yes. We've moved recently and I can't bear to think how much it cost...

I'd go for the 3 bed. Moving is such a hassle and costs a fortune. We've just bought a 4 bed with 2 DD's who currently share (so only technically need 2 beds!) but I know we'll need the extra bedrooms further down the line and at the moment they're a guest room and office.

Can you explain what you mean by saying you will definitely need a three bed? Do you have any DC now?

5yrs payments of £120 per month is £7200... in 5 yrs time it'll cost you nearly that in fees to move to a 3 bed house that will need re decorating to your taste. ..plus all the hassle. Buy the 3 bed now.

I do agree with you all re the 3 bed.. however DP and literally everyone around us has said go for the 2 bed to ease yourselves in

Buy the 3 bed, that way you don't have to move again in a few years. It's stressful and ridiculously expensive, not to mention house prices are still rising.

Get the 3 bed - if you ever want to move again you will get a much better return on your investment and it will be easier to sell than the 2 bed

So 5 years of £120 a month is a saving of £7200. You will need to pay more than that in stamp duty, solicitors fees, removal costs to move to a 3 bed. Get the 3 bed - the 2 bed isn't really a saving at all.

I'm another who would go for the 3 bed.

Selling and buying are a pita. I would want to feel settled. Sounds like your heart is not in this 3 bedroom house though.

3 bed 3 bed 3 bed. It costs THOUSANDS to move home especially on a share ownership scheme where they are hard to sell on because not many people want to buy a shared ownership house second hand, but also everything has got an admin fee attached. They charge you generally around £250 To issue a form valuation, even though an estate agent and Zoopla etc does this for free. Go 3 bed you'll regret the hassle of moving etc later on. For context I'm a mortgage advisor so see lots of cases of people moving etc and I am currently moving from a flat to a house and it is costing us a small fortune.

Do you have children now?

shared formal

Shared ownership places can be a nightmare to sell for various reasons.

Sorry, x post with your last post. You want it, others are trying to persuade you otherwise.

Sounds like you and dp are sensible. Sit down with the costs of moving v the costs of this house. Show him.

If the 3 bed is affordable, go for it now. moving is a hassle and the 3 bed isn't costing you that much extra.