and an AIBU!

[tesrocks]

I have just viewed our perfect house! It also has a two bedroom cottage for my mum who is retiring and keen to live next to us.

It is over budget but have promised DH to work out the numbers by introducing a v tight budget, whereby we cut back on luxuries such as magazines,clothes, make-up, wine most nights and other such stuff. So should we try and make it work by cutting back or stay put?

I love it!

Tempting, isn't it? These sort of thoughts are going through my mind too. But I'm trying to be honest with myself - just how fed up am I going to be in a lovely new house when the novelty has worn off and we can't afford to do anything? If your salaries are going to go up, then it sounds a good idea, but otherwise, I wouldn't advise you to overstretch yourselves too much. Things are going to be going up too - don't forget the VAT rise in January.

But do the maths and see what you come up with.

do the maths taking into account likely big rise in interest rates & possible inflation - because if you can only afford it by cutting back, you will have nothing left to cut back on if circumstances change.
good luck.

Depends how much having your mum live with you impacts on your life.

Personally I wouldn't stretch myself to buy a house if my present accomodation was adequate. We did it once and until our earnings caught up it was pretty miserable scrimping on everything even if our home was lovely.

We have since moved again and are very comfortable and every so often I suggest an "upgrade" and DH has to remind me how dull life was when we had no holiday's/treats and I panicked about whether we'd ever be able to afford a night out again.

Thanks for advice. We are all v keen to have mum next door - she's fab - we've been on hols together, speak every day and no worries on that side. Just back from collecting boys from school and mentioned it to friend she said to go for it and that we should view it as an investment.

Will be seducing hubby tonight and persuading him its a good move - will do maths first and a realistic budget to make sure its possible.

We have lived on v tight budget B4 in London when I was a student and Dh was looking for work and we were pretty good at making our own entertainment - fond memories of strip gin rummy (is that how you spell it?)

Is the cottage part of the property? If so, not unreasonable for you Mum to chip in if she's selling and wants to be near you.

i agree that your mum jshould contribute if she'll be living there

i would never push myself to the limit tho. friend did that and ended up really not being able to afford it and being bailed out by her parents, and then in negative equity

there are plenty of other houses out there

and the thing is when you were a student and he was looking for work it was only temporary.

how long will you ahve to live like this before you can have magazines and clothes?

what will you do if you have a big financial emergency? car needs fixing/roof needs mending/boiler goes?

Please don't!A v close family member did this at the end of last year.The house is amazing and she thought she could put up with any 'cutbacks' just to have it.Onve xmas was over and she had had a few people come and see her lovely house the financial ramifications really hit home and the last 6 months have turned love to hate and she just wants rid of it as her and her dh have NO life!