Help!!!

[CIng]

I’m currently pregnant and trying to decide where to live. Our dilemma is that we have (from before we found out) a house under offer that we like but now think we may outgrow sooner than expected (which might mean losing money on selling given current prices and stamp duty). However we can’t stay in our current rental so if we don’t proceed with the house we’d need to find an alternative rental and the quality of options doesn’t seem good. For those who have been in similar situations - is the certainty of having a home in pregnancy / during birth / to raise a child something that we should weigh more heavily than the risk of making a “bad” financial decision? I’m finding the idea of not knowing where we’ll be living very stressful. Any advice appreciated

What's the house under offer like?

It’s a London terrace so not spacious.

I'd personally buy the house so you have that security rather than renting. We only have a small 2-bed and have a toddler, we have plenty of space.

That’s my thinking. It’s just so expensive to move again due to stamp duty that we wondered whether to try for something further out but bigger.

I am in a situation where we're having to make similar choices. Personally id find somewhere else to rent and consider where youd like to live and find your long term house once baby is here and youre somewhat settled. Buying a house isnt an investment anymore - when inflation is considered house prices are actually decreasing, all over the country, so you could get stuck in your next house if you buy knowing you dont want to stay. Plus theres stamp duty, legal fees and moving costs that you simply wont get back.

I’m no expert(!) But when we secured our mortgage pre children there is an affordability assessment. Post children childcare costs may decrease what a bank is happy to lend. I’d buy before children personally

@HelpaSILoutthats a good point. Also taking out a mortgage while on mat leave is a bad idea as youll be assessed on your mat pay. We decided to wait because we can manage just on the 30 hour free childcare so our costs wont rise significantly once our 2nd is here

If possible I'd try and buy the home you want for your future rather than just what you need for now. We bought a 4 bed house before starting a family, it felt excessive as it was more than we needed but 5 years later we have a 3 year old, another baby on the way and both work from home so need an office space too. We totally grew into the house and are very glad we bought what we did as we see it as our forever home, we wouldn't have been able to afford it now as prices have increased so much and it would have been stressful moving house with young kids.