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Original poster

WWD? Move twice or move once?

26 replies

HoneyDragon · 19/04/2015 19:58

Move to a slighter bigger house, with a mortgage similar to what you already have with a view to moving again in 5 or so years to a forever room.

Or

Having seen a property that ticks all the forever home boxes already and is affordable, go for the larger mortgage (and higher rates) and have things a little tight for the next 1-2 years?

really interested in what others have done or would do. (Mortgage and insurances would be about 28% of our basic income after taxes)

My heart and head are clashing Confused

OP posts:
Original poster
HoneyDragon · 19/04/2015 19:58

Forever home. Not room.

OP posts:
Koalafications · 19/04/2015 20:00

As long as I could honestly afford it, and the house definitely ticked all the boxes, I would go with the forever home.

cheminotte · 19/04/2015 20:00

If you move twice you have stamp duty and moving costs to pay twice. Have you considered this? Can you definitely afford it now?

SanctimoniousItches · 19/04/2015 20:02

go for the house that ticks all the boxes.

moving is exhausting and stressful and expensive.

Original poster
HoneyDragon · 19/04/2015 20:05

Yes. Just obviously the cost of moving etc and stamp duty means being careful afterward.

We're meeting mortgage bod this week to check affordability and LTV ratio properly this week but it's been positive so far (however having seen many mortgage threads on here nothing's ever certain)

Thankfully the house won't need anything "doing" so no other anticipated costs.

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SmileItsSunny · 19/04/2015 20:06

forever home. Definitely. You get used to scrimping!

Original poster
HoneyDragon · 19/04/2015 20:08

Lots of previous scrimping experience to draw on so it won't be a shock in that sense Grin

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Gunpowder · 19/04/2015 20:11

Forever home.

Original poster
HoneyDragon · 19/04/2015 20:12

My head says it makes sense financially as we're not buying an investment we're buying a home.

My heart says we could really regret not trying.

My bum keeps clenching at the thought of just going for it.

(House buying is still one of those things that grown up me thinks is for grown ups, despite already owning one)

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Gusthetheatrecat · 19/04/2015 20:13

Forever home! We made a similar decision about 5 years ago and are now just able to do some of the work that our house needed. SO worth it for the living space though. So worth it.

bigkidsdidit · 19/04/2015 20:14

28% is normal for mortgage and insurance isn't it? We have 25% mortgage and 35% childcare < weeps > which is normal in our crowd anyway. Go for the forever home!

Original poster
HoneyDragon · 19/04/2015 20:18

No regrets then Gus?

They say 30% tops I think. Our council tax will effectively double though, and water rates etc. I've costed that to the best of my ability.

It may look a bit sparse on furniture for a while though.

But what we have is enough for people to sit on.

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thewomaninwhitefluffybunnyears · 19/04/2015 20:18

I would go for the forever home too if viable. Moving costs are huge so you have to factor this in also. We have done this and starting to get easier.

Original poster
HoneyDragon · 19/04/2015 20:19

Oh childcare sucks.

I've nagged my friends to get their mortgage sorted ASAP before she looks obviously pregnant Grin

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bigkidsdidit · 19/04/2015 20:24

Tis ok my eldest goes to school this year and next year my youngest gets his free hours :) :)

Original poster
HoneyDragon · 19/04/2015 20:29

It's lovely when you can see the end of paying two lots full time.

Avoid any low flying sperms and you'll soon be living the dream Grin

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TheEmpressofBlandings · 20/04/2015 10:11

How old are you? Quite honestly, I'm in my 40s with 3 children and think I'm still way too young to be in a forever home. Would it really be forever, or say 10-15 years as opposed to the 5 years for the other one?
It sounds reasonably affordable so I don't think you'd be stretching too far for the forever one.

specialsubject · 20/04/2015 14:48

there's no such thing as a forever home - and not always for bad reasons. But if you can afford the bigger one, and protect yourself against interest rate rises, then why pay to move twice?

Original poster
HoneyDragon · 20/04/2015 15:32

Well yes, you're absolutely right, but 'intended to be long term until the kids have left home, unless we have to relocate home' is a bit long winded Grin

I think what's made me Confused is a couple of EAs seem to think it's a massive move in comparison to our current home.

I'm 36 Empress, and I don't like moving house.

Hence the appeal of going for the the space and area now. Wink

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DownWithThisTypeOfThing · 20/04/2015 15:44

I've been in my forever home since I was 25! I didn't know it was definitely my forever home - I didn't realise I'd be so lazy and comfortable - but I did ask myself "can I see myself here as an old lady?".

CarcerDun · 20/04/2015 18:48

Forever home option would be my choice.

TheUnwillingNarcheska · 20/04/2015 20:29

We did this 5 years ago. Bought our forever house.

I blew the entire ear marked renovation budget on just buying the house. So house prices were Y and we had X to gut a house. We ended up going for the bigger house and put Y and X together to buy it. It was the house and the location.

Absolutely no regrets. Dh has a room to work from, the children have their own "lounge" with all their toys in. We did a kitchen extension 2 years ago and it changed our daily lives.

We are slowly working our way round the house re-decorating and replacing stuff.

A forever house to us just meant that we had enough space for two small boys who were 7 and 4 and who are now 12 and 9. The boys have their own space which isn't their bedroom. We won't have to move again for a school as Ds1 is in year 7.

So the only time we will move again is when we downsize when the boys have left home.

If the numbers work out for you, then forever house.

TheUnwillingNarcheska · 20/04/2015 20:31

Honey we got a few more rooms with the move, it's a bugger to clean but I still skip, literally skip, round the house because I love it so much.

Original poster
HoneyDragon · 20/04/2015 20:52

Right. That's it decided, we better get an agreement to the mortgage this week or I'll be gutted.

It's good to hear that people who've gone for it thing it's worth it Smile

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Undecided90 · 20/04/2015 21:34

We have just had an offer accepted on a house thats a similar price ratio to yours. Its scary but go for it!