I’m 37, single, and have been living in London for over 12 years. I was hoping to buy a flat in the next year or so, but I’ve just spoken with a mortgage advisor, and the most I could afford would be a (very small) one-bed flat somewhere in a commuter town around 45 mins or more from Zone 1 (e.g. Chelmsford, Slough etc.).
Given that I’ll have to move somewhere by myself anyway, part of me is wondering should I just cut my losses and move to a city up north somewhere where I could get a bigger place for the same price. The flats that I could afford all seem tiny whereas I can see 2-3 bed houses for the same price in places like Liverpool or Leeds. I can’t see myself having the same social life as I have now if I’m living miles outside central London and having to plan every move according to train-times etc.
I can find similar work anywhere in UK and close family all live in another country anyway so that's not an issue.
The main con, that I’m really worried about, would be that literally would mean moving somewhere where I know no-one, and have to start from scratch building up a social network etc. As I’m in late thirties, I don’t know how sensible this is. Has anyone ever done this, especially outside London. Or am I being overly-dramatic? Would love to hear any thoughts.