Would you downsize?

[Karmelita]

My exDH and I are divorcing. I'm with one child aged 7 and don't earn the greatest of incomes. I was thinking to downsize from 3-bedroom to 2-bedroom apartment in the same area so that not to disrupt the child's studies, plus I never quite liked the apartment we've been living in - it's cold and it's noisy. However the perspective of buying, selling, moving out, repairs scares the hell out of me. So, I'm thinking of downsizing for financial and psycological reasons. Yet I feel I don't see it quite as clearly as I should. Would you downsize in the similar situation?

I would - I think being financially secure is really important if you are going to be a single parent.

However, check all the legal fees/stamp duty/estate agent stuff doesn't just mean you live somewhere smaller for the same mortgage. Its quite expensive moving.

grasspigeons, thank you. I'm currently adding the costs up. The mortgage will be smaller, but not a great deal smaller. I'm afraid I'm feeling panicky and want to move just because I'd like to live in a place that wouldn't remind me of my exDH.

maybe a good redecoration and some new pictures and move the furniture around might help. Even swapping bedrooms around

its hard to move back up the housing ladder

You really want to be making a good saving for it to be worth the hassle.