To move or not to move...

[Amiatotalmug]

We are second time buyers in a flat and looking to upsize to a modest house as we have 2 little ones- we want more space and a small garden for them.

Our property has gone up in value and we could end up with a 15-20k profit (our deposit) which is great. But it does make things tight as selling/buying fees will come off this deposit too.

We wouldn't need a much bigger mortgage but I just don't know whether to wait it out and stay here another 5-6 years (I'll be working FT again, no child care costs etc) so we can save more for a deposit. This seems the sensible option but the area we live in is getting more and more expensive, not London but anther big city which will continue to be popular. I'm worried by leaving it we will be out priced.

What do people do, are they sensible and save etc and put down as much as possible or do they scrape every last penny to move lol. My heart is set on moving, I would like a house to make a home but it would be tight in terms of all the deposit gone etc although We would be fine with actually mortgage repayments, bills etc...ah I just don't know!

I'm terrified of putting us on market and then being very limited by our choices, what would you do or have you done when buying for second time?

Another option is help to buy with a new build but husband less keen on new build as friends have gone down this route and had loads
Of problems with their news homes...

When we were first time buyers we had two small toddlers, my second was actually on the way at the time. We were in rented as well so could barely save a deposit as it was swallowed up on rent and child upkeep. We went for it with only a small 5pc deposit and glad we did it. I'm a just go for it person to be honest. There's nowt like having your own garden for your children to play even if they are small at the moment it's lovely. Think of all those years they can be outside playing! Why risk being outpriced if you will be able to manage. Remember if you buy now your new house will go up in value too to give you more equity for the future! If you want to do it, go for it!

New builds very often come at a premium compared to older houses, so even with Help to Buy they may not be the best value option.

If I were looking now, I'd be keen on anywhere a bit 'tired', with dated decor, etc., because this sort of thing puts so many other buyers off and you're more likely to have a cheeky offer accepted.

I would move but would move into something perhaps on the lower end of your budget so you aren't pushing yourself which has the potential to extend and improve once you have more money in the future. Then you end up with your perfect, forever home both ways.

A flat must be hard with two small dcs and I personally would not want to wait 7 years to move if I didn't absolutely have to.

Dh and I went round in circles about moving for years and years. I wanted to and he didn't. We had a tight budget and didn't want to stretch ourselves by moving but I hated where we were. But the prices in the area I wanted to be in were going up and up so I knew if we didn't do it then, this was coming up to three years ago, we would never be able to afford it. I managed to persuade dh to move but we found everything we saw within budget was too small or needed lots of work we couldn't afford to do. So we got a house just inside the area I wanted to move to which had scope to extend. We lived in it as it was for a bit and then when we had the money we extended. I am so glad we did. I have never regretted it and even dh admitted it was the right thing to do.