Hi,
I need to buy another house for myself and my daughter once my divorce is finalised. My son (almost 19) is living with his dad, mostly, but does stay over so I’m looking at a 3 bed property. Son is also in the process of joining the military so won’t be around much anyway so I would probably have the 3rd bedroom as an office with a decent sofa bed in case he stays over.
We have a 4 bed detached house to sell (valued at £260k about 8 months ago). I’m set to get 55% of this. I am 50 with a disposable income (although due another pay rise in 2 years) of £1500 once bills are paid. I am paying £232 a month for a car with 3 years left to go on the term.
House my daughter and myself are currently in is too big. I was going to go for a 3 bed in the range of £175-£200k but (a) not in a decent area and (b) too far from her school. Currently pay £100 a month for a school bus pass so wanted to move
closer to the school to avoid the this.
My salary is obviously more now than what it was when the children are small and houses I like are close to school but range from £245-£280k. One is a in a road I’ve admired for years! I’m just wondering if I can do this! I don’t what to leave myself short as we do like days out etc. and I like the occasional trip to London and an annual holiday abroad.
I see it as a good investment for the children (when I’m dead ha ha).
I have an NHS pension going back to 1996.
Family home fully paid off.
I am 50. Retirement age 67.
Is there any way I could get one of the houses that is a bit out of my price range? I didn’t want to pay more than £300-£500 a month. Is is possible to but some on interest free and pay a lump sum when I retire?
I don’t want to worry about money!
I could buy a 2 bed (with an attic conversion) outright but not in the right area.
How have other divorcees managed?
Just wondered. Of course, I could meet a nice man 😂