2 years into our mortgage and im fed up! Does it end?

[Asia98]

I feel lucky that I have managed to purchase my dream house. However, 2 years in of paying, I am dreading another 13 years of this! I miss our previous luxuries. Does it end? does it get better??

@Kendodd I think she indicated Qatar.

I think you're getting unfair comments here OP. Shockingly different countries have different economies and so what seems like a great income/situation in one country may not be the same in another. If I was in your situation I think I'd have to look at coming back and using money from sale of your home now to buy somewhere here. Alternatively my grandparents and great grandparents lived in middle east. They always rented and kept a home in the UK for long visits in the summer holidays etc. Eventually retiring back here comfortably. They did have to put up with moving alot (although this was also the nature of their job)

It sounds as though money is tight at the moment, but you'll have more disposable income in 2 years, and will be (on my guestimate) be mortgage free on your dream home in your early 40s.
Just hang on to those 2 thoughts OP, it's far more than many can hope I achieve. You'll have done very well for yourself and given yourself lots of options.

It will get better and easier - and one day you will be so pleased you did it.

Op I think your getting a hard time here. Because if mn being uk based, norms of other countries aren't assumed

Someone once said to me. You have to get into debt to get out of it. Meaning a mortgage will eventually make you financially free if you plan it in the right way. Well done you. 13 years to go...

Are you all missing the point. She had insecure rental problems for several years. Seems to me, that buying a property, was their only choice. It's irrelevant which country the property is in. They have tried to secure their families future. Which is more than some hapless people do.

Yes but it's not just changing from renting to owning that's increased their housing costs from 1500 to 4200.

There must also have been a significant upgrade in the size or location of their home. Plus, once they've paid for 15 years, they own the property outright and will see significantly reduced costs.

It’s not unusual to have a shorter mortgage term than 25-30 years.

We based ours on the most we could afford each month so we could pay it off quicker.

Our house is worth £450,000.

Has a total mortgage of £200,000, which is split into two charges - one for 17 years and one for 15 years.

It makes sense to pay it off as quickly as you can afford to. We still live at the same time.

Just keep paying and start searching for higher paid jobs to fill some of the difference of the cost of luxuries but think in 10 or even 5 years time you'll have so much profit in it and it'll be worth it

What does your ideal home of £4K mortgage buy

How many bedrooms bathrooms living areas

Garden and pool

Can you ask downsize if really struggling

Tho R.E.M. 2yrs later childcare will drop so have more income

Will you have a great value asset at the end of the 15 years? Perhaps that will give you something positive to focus on? Also 15 years is a fairly short term to tighten the belt and Economise to afford it. Not like 25 or 30 years.

We paid off 2 mortgages on 2 properties we now own outright, one in 10 years one in 7 years. This was through making big sacrifices and also these properties are not as posh as our friends and we did not stretch ourselves to the utmost we could afford! depends on your priorities. if you want to be mortgage-free quickly then you might want to look at more modest properties.

I have 14 years left on a 15 yr mortgage. Not because I’m rich and could afford a large down payment.. because I’m older and the 15 years takes me to retirement age. You’re all so quick to judge the op... there are legitimate reasons for everything too...

I can understand why you're feeling the pinch do much with your outgoings increasing but remember you are paying for you dream home . Some have no dream home or luxuries so you're still winning .

Out of interest, what job do you do OP?

@ThePluckOfTheCoward

Hang on while I find my violin

I already found my mini one if you want to use it? 😂🤣

Have you perhaps overstretched yourselves? If you've bought your "dream house" and its costing so much that you have no money for other luxuries, then should you have perhaps bought a more affordable home? Surely you realised that trippling your out goings (from rent to mortgage) that you'd have to tighten the purse strings, and make quite a lot of sacrifices. Sorry if that sounds unsympathetic, it's not meant to - I just don't follow your logic.

@user1474549564

I have 14 years left on a 15 yr mortgage. Not because I’m rich and could afford a large down payment.. because I’m older and the 15 years takes me to retirement age. You’re all so quick to judge the op... there are legitimate reasons for everything too...

She is 29 ish

But the seems you can’t get long mortgages over there

15/20yrs max

So you have a choice of paying rent for the rest of your life or being rent/ mortgage free in 13 years. Rent at the moment seems to be more expensive than a mortgage, will go up whenever the landlord fancies plus you no security of tenure. A no brainer really!

I suppose you may have accidentally realised that the dream house isn’t as important to you as doing things you enjoy.

I would slightly downsize, and add the pergola! 😉

@HandlebarLadyTash

No, as soon as it ends you realise your pension is shit & any extra money you though you had goes into that

Yep I would agree with that.😫😬

Goady CF.

I’m not from UK originally and my birth country has very different buying/ mortgaging system so I know from experience that it’s absolutely useless to discuss your financial issues with someone who’s from different country. You will get a lot of misunderstanding at the best.
However it looked to me that your main mistake was buying at the upper limit of your budget and not planning for any falls in your income. So basically you were too optimistic. You would have the same problem in UK if your income reduced by 30%.

Stop moaning. Loads of people would give their eye teeth to be in your position.

As house prices rise you will be grateful you are no longer paying rent. My house is worth three times what we paid for it. I couldn't afford to rent a flat these days.