We currently live in a 4 bedroom extended house (Was originally 3 bedroom ) . We have alot of equity in the house as we put a good deposit down and then used cash to build the extension.
Looking at the prices of houses in our area we have realised that if we sell ours and buy a 2 bed house in the same scheme. Then extend that. We'd have a similar sized house with a better layout/storage than we have now. factoring in the move costs and build costs we'd be left with about £20,000 left over plus a slightly cheaper and shorter mortgage. Our children are 10 and 7 so thinking ahead to university etc. it would take us about 8 years to save that sort of money.
It would probably take about a year for the plans/build etc.
Last time we moved we couldn't find a house we liked after selling ours and ended up living with the in-laws for a number of months. Which is my fear, we sell this and don't find a 2 bed in time ! Plus I remember the mess and stress of the extension.
Are we fools to be thinking about doing this ?
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Should we do this move ?
11 replies
a1z0 · 17/07/2015 15:34
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