dp says he’s leaving in 3 months no financial help during pandemic

[flopseyR72]

I feel like I can’t make a decision.
dp says he is going to move out of our rented flat in three months it’s 2k a month so I can’t really afford it own
I pay all my dc nursery fees myself already
I was going to buy a house before lockdown in Essex Greater London but now I’m really nervous about a house price crash and recession.
My dd needs to start school in September and has a place locally.
I thought would have moved by now but didn’t do anything during the lockdown
My job is secure nhs
I earn good salary
My dp and me need to split up I don’t like him and I’m not upset about it
I just don’t know what to do about buying moving or renting. I want to give my dp stability I have moved four times since dd 4 was born.
My dp says he can’t afford to give me anything as he’s going to rent himself
I feel really unsure.
What would you do. Buy now although economic recession is looming and local house prices are grossly inflated here or rent somewhere smaller

I am very frugal already.....that’s why I don’t want to spend 2k a month on rent.

Just because someone earns a decent salary doesn’t mean that it solves all their problems. No but it's so much easier! It takes away what is a massive stress factor for many lone parents. Not wanting to spend your 100k salary on renting somewhere you chose to live is very different to scraping pennies together to feed your child.

OP you sound out of touch. If you can't manage financially you need to seek advice.

I think it’s worth looking around now as house deals take ages and you can offer less if things change before the deal goes through. I expect that anyone selling now is a bit desperate so you might get a bargain compared to 6 months ago. It might not be a bargain compared to a year’s time. But it might take you that long to find a place and do the paperwork

Rent somewhere cheaper locally when he moves out. Buy once the housing market stabilises. Claim child maintenance ASAP

I never said I was on the bread line/ can’t manage money. As I said already I am frugal. I should have said that I don’t want to spend 2k on rent.

If you're on 100k and frugal, I'd imagine you have plenty in savings. You certainly have enough to privately rent. Are you anxious over money? Genuine question. I know people on similar salaries with thousands in savings who constantly plead poverty and say they're skint. There's no need to be frugal to the point you live in a miserable relationship. You're in a strong position. Recognize that.

Yes formerbabe, I think you are right. I think I am a bit anxious/ ocd over money. Also a bit anxious insecure about work. It’s a complicated story. Have sacrificed and been frugal to put myself in position to buy a property and hate the idea of wasting some of it on paying a huge monthly rental myself.

Rent now, and give yourself a year to let the dust settle. By then the housing situation might be more clear. Then you might want to consider moving jobs to an area where property for sale is more affordable.

OP im going to go against most posters. yes your job pays a wad, genuinely congrats, that takes good skill.
Move back to scotland. Rent there, use savings and get a new job then buy

you are your childrens stability. be happy. London is overpriced

OP im going to go against most posters. yes your job pays a wad, genuinely congrats, that takes good skill.
Move back to scotland. Rent there, use savings and get a new job then buy

you are your childrens stability. be happy. London is overpriced

OP im going to go against most posters. yes your job pays a wad, genuinely congrats, that takes good skill.
Move back to scotland. Rent there, use savings and get a new job then buy

you are your childrens stability. be happy. London is overpriced

I could stay with my mum in Scotland. However, I need to send my dd to school in September. Also I’m not sure about giving up my job without another lined up.

Can you rent somewhere cheaper?

Well done op for working hard and getting a great job that you can support your young family with. If I were you I would stay put for now and see what happens in the next few months. Surely you can't move too far if you're going to be a single parent with 2 young kids and have to travel for work and do childcare pick ups?

The fact that you've looked to move home to Scotland means you're not set on where you are. Is you ex dp likely to want regular contact with dc? Is he likely to get it if he's been abusive? Have you reported him pushing your dc?

You may decide Scotland is a better option long term.

I haven’t formally reported him. Spoke to women’s aid. Called gp but they never called back as was the start of covid.

@flopseyR72

I could stay with my mum in Scotland. However, I need to send my dd to school in September. Also I’m not sure about giving up my job without another lined up.

do not give up your job until you have something else, or you will really regret it

I think you need to work out what you might save by waiting a month for house prices to fall versus what you would pay out in that time (2 grand). If your savings would be much more than that then its a sensible thing to do?

2k a month for a 2 bed house ??

op i'd and consider it as an investment in your future. Take that time to decide if you want to move, if you can find work elsewhere or if you're staying, exactly which house you want. It IS a lot of money, but think of it as time and sdpace rather than wasted cash lining someone elses pocket

That house looks lovely (shame they don't seem to be gardeners though )

Different perspectives on this thread and it's all what you are most comfortable with. There is no guarantee which way property prices will move.

Personally, I'd rent another year if I were in your shoes.

Where I live, property prices fell sharply after the financial crash in 2008 and took 10 years to get back to where they had been. It was around a 40% difference (on right move you can see land registry data and it's quite a shocker to see the same property being sold a few years later for not more than half the price).

Even a 20% drop is going to save you £100000 on a £500000 property or more expensive properties become affordable to you.

Obviously there is no guarantee where the price is going, but I'd personally take the risk of waiting but I'd probably keep looking in case something came up that was just what I was looking for.

If you do buy now, I'm sure you'll be in a strong position to knock a chunk off the asking price. And you'll no doubt feel more settled and secure, and that might be more important than waiting to see if prices drop....

Whatever you decide will be the right decision for you.

I’ve already commented saying you should start looking to buy as it takes a while. BUT you should also contact the landlord to ask for a rent reduction for the interim. Airbnb market has collapsed and there are many rental bargains. Plus tenants not paying. My tenant is about 2 months behind on rent but keeping her there is cheaper and morally better than turfing her out.

I don't know Brentwood, but would something like www.rightmove.co.uk/property-for-sale/property-76953520.html this which 100k less then your maximum. Would this make feel less insecure about money if you could still have some savings.

You only have one dc? I'd rent a one bed place. Let dd have bedroom and do a sofa bed for sitting room. Let everything calm down then make some decisions in 6 months

The Loughton house posted sold in 2 days. Not overpriced after all then!

Op if you are seriously looking to buy a house, you need to stop worrying about what people paid for it previously. A house is worth what you are willing to pay, not what the current owners have paid.