Am I making a terrible financial mistake?

[Farticus101]

In the last few years I have had a really rough time. I fled an abusive relationship and moved in with family. Unfortunately, this has now not worked out and I have been asked to leave as parents couldn't cope with my DC in the house and the atmosphere was becoming toxic.

I don't want to uproot DC from their school and friends yet again (it will be their third move in 4 years) so have decided to rent nearby. However, the only rental properties in the area are absolutely horrendously priced for a 2 bed. I will go deep into my savings to pay for this.

Ultimately, my plan is to run through my savings (but will keep 1 or 2 thousand pounds as a buffer), then, when I don't have to do childcare, I can work full time which will at least cover the rent and bills (only just). Obviously rent may go up in this time though which means we would have to leave the home either way. There is no way I can buy a property unless I move hundreds of miles away.

Am I being unreasonable to rely almost solely on savings for the next three years?

Good luck OP.

OP will you actually pass the credit checks for a private rental if money is that tight?

Move your kids now before you have to move them again for secondary school. Move away and buy somewhere you can afford and that will give you the stability you need. With your current plan you will lose all your savings and with that the chance to provide permanent stability. Imagine having to move again and again when your kids reach secondary school and you have the added stress of no money.

moving is hard but the children are young and surely the benefit of a steady base/ home you call your own would outweigh that?

Children make friends easily at that age - within a year they will be fine - plenty of kids have to cope with a few moves.

Also - once you move and buy you won't have to uproot again - but if you rent you have that hanging over you.