To Spend The Forever House Fund On Memories

[MyWonderwall]

Just looking for advice from all you wise folk!

Me and DH have been saving for a while, we finally have enough money to put down on our forever home (with mortgage) - 4 bed detached in our dream area with lovely schools and activities for the DC. We have three DC ages 5,3 and 9 months.

HOWEVER, I would just love, love to spend this money on taking a year out and go travelling to spend some quality time with our children!

I think it would put us back 1-2 years of saving on our return but we could probably get the dream family home again eventually or maybe not but I think it may be worth the risk.

I really don’t want any death bed regrets and they’re growing up so quickly! We have this opportunity now.

Any advice would be greatly appreciated! Especially from people who’s children have already grown up and now have the precious hindsight!

What would be the more important/best thing for our children and family please!

For those of you saying go for the house and take the year out later…how do you go about pulling kids out of school for a year when they are 10 / 12, is that acceptable to take them out if school and around the world?

I was going to post do the travel, but then I saw your DC's ages. Do the travel when your youngest is 5 or 6 years. We did it and nearly bankrupted ourselves, but the adult kids (now in their 30s remember the travel and say its shaped how they approach life now}.

That's an insane idea - who would enjoy travelling with children that age? You can have quality time in your nice new home. Don't squander your money/this iooortubity.

I'm the opposite of frugal and love throwing caution to the wind on crazy ideas but this is just plain stupid OP. Get the house.

Prioritise the good schools for your children.

Opportunity*

@Puppylucky

Ok I'm a lone voice here but I say go traveling first! Haven't read the full thread but buying a house isn't a single transaction - it's commiting to a long term responsibility. You have to maintain it, rent it out etc. We did it the other way round - so bought the big family house and then travelled and it was tough. The house was always looming in the background as a worry and a responsibility that had to be dealt with regardless of where we were in the world.

No - I agree. Go travelling! Once you've saddled yourself with a huge amount of debt in a mortgage, you might never be brave enough to go, particularly with older children.

house first travel later. Look into home schooling during your travel time.

Buy the house, as everyone says the kids are too young to remember any of the travels. Do that later.

@MyWonderwall

I forgot to say we already have a house but much smaller, near rubbish schools and not in dream location! We would be returning to this house for 1-2 years afterwards.

So 2 out of the 3 DC would have to go to the rubbish schools while you saved again. Not worth it. Buy the house then save up. There's nothing stopping you taking a sabbatical when the kids are older: a) they will appreciate it more; b) the oldest is already school age so you have presumably planned to home educate for a year in any case.

PS I am betting that the house you choose now WILL NOT be your forever house.

Your children will benefit more from the better schools you would be in catchment for. As others have said take the trip when they are older and can really cherish it. Plus traveling post covid still isn’t as enjoyable.

We have three DC ages 5,3 and 9 months.

the precious hindsight!

God bless you, but this is insane. There will be no precious hindsight. For small children, an icecream at the beach is 'precious hindsight'. Children don't want magical memories. I think you're projecting.

Kids generally don't want to be travelling for months at a time, they love stability and routine. Also they won't remember much if anything of it at those ages. My teenage son has been all over on shorter hols - his 'best' memories are a sweet shop, ice cream for breakfast, cake for breakfast, buffet breakfast and a delicious dinner where he had seconds. Literally all his best memories are food related and could have been done pretty much anywhere.

Spend the money on the house but plan a fabulous two week holiday for you all. Save the longer term travelling for when they are older.

It sounds a lovely idea, but nobody knows what is going to happen with house prices.

My children went to wonderful places due to the creative stopover routings we did to visit in laws in the other side of the world. We enjoyed them, the children seemed to have fun at the time but they really don’t have much in the way of their own memories of it.

The memories aged 10+ are a different matter .

@Avacadoandtoast

For those of you saying go for the house and take the year out later…how do you go about pulling kids out of school for a year when they are 10 / 12, is that acceptable to take them out if school and around the world?

Yes, if you home school them for a year. The schools won't hold a place open for them, you would have to reapply for new schools (or the same ones, if they still had space) on return. With the advantage of having a UK address already so that's one major hurdle solved. Whether you can home school for a year depends on the competencies of the parents and what effort and money they're willing to put into it (money because you could fund online tutors for subjects you couldn't teach yourself).

House, travelling with DC that age sounds like some sort of horror

When my then 4 year old dgd was taken on a “dream” holiday to Disneyland I asked her what she had seen. First on the list was white dog poo!!

Buy the house- the idea of travelling with children wouldn’t be as great as you think it will be. Constantly on the move, home schooling, no space, no washing machine.

This is MN - of course they’re going to say house.

We have three DC ages 5,3 and 9 months

Buy the house.
Your DC are too young to remember your one year ‘trip of a lifetime’.
They will remember the many years spent in their family home though.

I know of a couple who sold their house to fund a huge blow out Disney trip for their KS1 children. When they returned they were forced to buy a house in a worse area. Everyone but them could see what a huge mistake they’d made, affecting their children’s futures for the sake of a dream holiday.
Your idea reminds me of that, but I guess in reverse.

Oh I so understand what you want here but I’m sorry - the kids are too young to remember, it’s a pointless exercise for them. Get the house, then plan for a sabbatical before the eldest starts their gcse course….

@MyWonderwall without question buy that house! Firstly your children are too young to remember some big holiday, they will only create false memories by looking at photos in later years of the trip! Secondly, house prices will have gone up a lot more in 2 years time the way inflation is increasing at the moment and it's expected to sky rocket within the next few years to the point where you may not be able to afford to buy a bigger house anymore! With 3 children and possibly having more children you definitely will need a 4 bedroom house for your sanity and just for them and you to have your own space...